Westfield Avenue

Description

Don't miss this unique opportunity to acquire an acclaimed and successful Deli/Catering business that has been operational for over 50 years. Well known with rave reviews, this unique and popular Delicatessen has been busier than ever - even now - since it has always been a pick-up/take-out establishment. Note that Deli sales volume for the 3rd quarter of 2020 Exceeded that for the 2019 3rd quarter by 2.9%, and that is without normal catering sales. When catering returns to more normal levels, revenues could increase even more. Included with the sale are the long-held recipes of homemade Italian cuisine and the well-respected name in the business. With 2 store fronts on the corner of the adjoining Parking lot for 50+ cars, there are value-added opportunities to increase the revenue dramatically as outlined in the available full Executive Summary. For instance, there is a Class-C liquor license available for sale in Pennsauken, currently listed for sale at $110,000. This could provide options for the new owner to potentially convert the catering hall store front to a liquor store, a bar/restaurant, or a brew pub for example, while still operating the Deli store front and offering off-premise catering. Notwithstanding the liquor license, the catering hall could be transitioned into a BYOB Bistro, or leased out for additional income to any type of business. The parking lot is Township owned, maintained and plowed; a significant savings to the business. Each unit has separate utilities. The catering hall was renovated within the past 10 years. Seller Financing is available with a strong offer. 30-day Training/Transition period is available. Current cap rate is 22%. A complete Executive Summary with current Proformas, Projections and a 5-year Projected Revenue chart is available through the Listing Agent with an NDA. The Executive Summary includes a list of Equipment, Fixtures and Furniture, valued at approximately $125,000, which are also included. The current owners are ready to retire and offer this unique opportunity to a savvy entrepreneur.