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Profitable diner/luncheonette in an urban area of Hudson County, northern New Jersey and minutes from the New York Lincoln Tunnel. Owner is now retiring after thirty years in the food service industry. This active breakfast and lunch business, with limited hours has a gross yearly income of approximately $500,000 and a solid yearly net income to the owner operator. The sale includes a long-term lease agreement at fair market value with additional extensions. The facility has a seating capacity for 80 customers with a clean attractive image. The business also offers delivery service which represents approximately fifteen percent of the gross income. This business has four employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll is approximately $4,217. The business has a new 10-year lease, expiring 2028 plus additional options with a monthly rent of $3,500 for the first 3 years, and $4,500 for the duration of the lease. Rent security of approximately $7,000. This luncheonette diner is operational seven days per week with hours from 6:30 am to 3:00 pm daily. Based on the asking price, required down payment and yearly net income, this business expect to supply a consistent net return on investment to the owner operator. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo may not represent this particular business.
The facility is sixteen hundred square feet with a clean attractive image. The facility has a stage kitchen and a full-length diner counter for fast food service and various tables for private seating. The general area consists of a highly populated urban city with a large volume of commercial businesses. The business is located on a commercial avenue with lots of walk in customers and substantial municipal parking.
Although the diner has a consistent and dependable income, with an improved marketing system for additional delivery and catering is available to further improve the gross sales to the owner operator.
The business is located in a highly commercial area; however, no new competitors are expected in this area and the owner will supply an appropriate non-compete agreement to the purchaser.
The owner is retiring after many successful years in this industry.
The owner will remain after closing and supply an appropriate transitional period.
Seller financing is available to qualified buyers.
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