Randazzo Pizzeria & Family Restaurant

401a East 34th st Ocean City, NJ 08226

FOR SALE
Property Type:
Restaurant
Amount:
$7,750,000
Last Verified:
Oct 14, 2021

Highlights

  • Fully equipped turn-key pizzeria and restaurant
  • Excellent location
  • Indoor seating for 130 and outdoor seating for 58

Description

Opportunity to own and operate one of the most well known and recognized year-round businesses and properties in Ocean City, NJ. Fully equipped turn-key pizzeria and Italian restaurant located at one of the two main arteries coming on to the island, and one of the few restaurants on this section of the island. The business has been operating for over 50 years at this location, 30 years of which has been with the current owners, who are wishing to retire. This property consists of two buildings totalling 9000 sq ft, one of which is a commercial condo that houses a full kitchen and dining room with indoor seating capacity of 130 along with outdoor seating capacity of 58. The second building is a mixed use property consisting of another full kitchen and houses the pick up and deliver portion of the business on the first floor with outdoor seating capacity of an additional 24. The second floor consists of two residential units: a 4 bed 3 bath unit and a 2 bed 1 bath unit, allowing for the ability to create additional cash flow by renting out both units. The mixed use building also has designated parking for 7 cars, but utilization of the alley allows for up to 10 cars. While this business is already established and profitable, there are several ways in which a new operator could increase revenues from day one, including adding online ordering, expanding business hours, as well as operating solely as takeout and delivery in the mixed use building, while operating or leasing out a sister restaurant (or other type of business) in the commercial condo that houses the dining room. Sale includes all furniture, fixtures, equipment, trade name, goodwill, domain/website, vendor contacts, as well as an introduction to the restaurant purchasing group, which allows for tens of thousands of dollars worth of rebates each year. Serious inquiries by qualified individuals/entities only. Sellers may entertain property(s) being sold separately from the business.

Ocean City, New Jersey is like a breath of fresh sea air, providing a welcome change of pace from those congested vacation resorts. This makes Ocean City the family beach resort of choice for people looking to escape the hustle and bustle of everyday life. And with nearly eight miles of pristine beachfront available, there’s plenty of room for exploring, wandering, or simply finding a peaceful spot to watch the tide roll in. It’s been that way since Ocean City’s incorporation in the late 19th century.


Year Built: 2007
Building Size: 3332sq ft
Lot Size: 0.3 acres

Map of 401a East 34th st, Ocean City, NJ, 08226

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Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

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