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Diner In Passaic County For Sale

Passaic County, New Jersey, US
Asking Price:
$550,000 (USD)
Sales Revenue:
Not applicable
Cash Flow:
Not applicable

Diner In Passaic County, NJ-33167

Exceptional business opportunity as a Diner & Catering business or easy conversion to a bar and grille. When this beautiful diner operated 24 hours, it grossed $2 million. The owner is nearing retirement, so the hours were reduced, and current gross is less. The premises were renovated at a cost of $1 million. The renovation was designed by a famous hospitality design firm, and the appearance is unique and modern. Great location on a major highway can certainly support a 24 hour operation. The history of the business includes some weeks with as much as $50,000 to $60,000 gross sales. These numbers are without a liquor license. The town has liquor licenses available, if desired. Corporate catering (on and off premises) and event business (bridal showers, christenings, birthdays, etc.) are already established, and these segments of the business have excellent growth possibilities. Great growth demographics of the area. Below market rent. Lease is assignable. Twenty five years remain on the current lease, plus two 5 year options. Free standing building with ample parking. Semi finished tile basement with bakery. Seats 150. We are looking for a serious buyer with a minimum of $475,000 cash available. Partial seller financing available to a qualified buyer. Owner will meet by appointment only. Make your inquiry now.

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Business Operation

Reasons for selling:

Health & retirement

Years established:
1970

Other Information

Support & training:

Seller will train

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

475,000.00 Down & 7% over 4 years

Furniture / Fixtures value:
$450,000 (USD)

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