1109 1st Avenue

Description

Exceptional opportunity to acquire a fully equipped pizzeria in a high-traffic Manhattan location, offering outstanding visibility and strong foot traffic.This versatile business features approximately 2,000 square feet plus a full basement, providing ample space for operations, storage, and future growth. The sale includes all owned equipment, a fully equipped pizzeria inventory valued at approximately $60,000, and 3–4 TVs, making it a true turnkey opportunity for an owner-operator or investor. The current lease has 8½ years remaining, plus a 5–6 year extension option, with a monthly rent of $8,240 that increases by just 3% annually. Operating expenses are favorable, with no water bill, gas and electric averaging approximately $1,750 per month, no separate heat bill, insurance of approximately $350 every three quarters, and taxes of approximately $35 per month with a 3% annual increase. The business currently generates approximately $50,000 in monthly gross sales, spends about $2,000 per week on inventory, and has a payroll of approximately $2,500–$3,000. The space is equipped with central A/C and heat and offers exceptional flexibility, as it can be converted into virtually any business concept, making this an outstanding opportunity to establish or expand your business in one of Manhattan's busiest commercial corridors.