THE Business for Sale Marketplace

Excellent current CAP rate of 10.5% for this cash on cash business. 2 for the price of 1. Convenience store and Italian Pizzeria for sale - mini strip mall on a giant 1.89 oceanview parcel across from the beach. Pizzeria makes documented gross of 525-550k per year. If overall bev and food cost is averaged to 33%, then gross a profit is approx. 346k. Most Italian pizzeria's can keep food costs down to a low of 25% to provide a gross of 400k, but lets conservatively say 33%. Payroll is 2 cooks plus a pizza cook plus 3 waitresses; total payroll of approx. 100k. Utlilities are less than 24k per year. This Yields an NOI 346k - 100k - 24k =222k for just the pizzeria. Now add the convenience store which pays a lease of 40k per year. This lease expiring May 2008!!! Total actualized NOI =$262k and CAP rate of 10.5%. If the convenience store is run by the new owner and not leased out then NOI can be closer to $300k. There is tons of parking and space to add even more storefronts and an oceanview deck/beer garden. Both short and long term potential is excellent. Very rare B4 zoned 1.89-acre parcel in city of ponce inlet with panoramic ocean views - the beach is across the street.

Location Description:
Superb location across from Beach and Beach Access Parking