89-91 E Central Ave - Storefront Retail/Residential FOR SALE


Pearl River, NY 10965
$125,000 USD
89-91 E Central Ave, Pearl River, NY for Sale
$125,000 USD
Storefront Retail/Residential - FOR SALE
1/18
null | Request Cap Rate

89-91 E Central Ave
Pearl River, NY 10965


OVERVIEW

TURN-KEY FAST-CASUAL RESTAURANT - BUSINESS-ONLY SALE Formerly Taco Taxi | 89 E Central Ave, Pearl River, NY 10965 ASKING PRICE $150,000 includes all FF&E and assignment of the existing lease PREMISES & LEASE 1,084 SF vented kitchen plus 22 interior seats Approximately 3 years remain on the current 5-year term; two 5-year renewal options in place Below-market base rent (details under NDA) Tenant pays utilities only; landlord covers roof, structure, and taxes (occupancy about 7 percent of sales) FINANCIAL HIGHLIGHTS* Three-year average gross sales: mid-$400Ks Normalized Seller’s Discretionary Earnings (SDE): $80–90K Pricing multiple: about 1.7–1.9x SDE (Rockland QSRs trade 2.0–2.5x) Less than 24-month cash-on-cash payback on current cash flow *2022-2024 corporate tax returns on file (Carrasco Food Corp) NDA required INCLUDED FF&E (2021-22 vintage; replacement value about $280K) 8' CaptiveAire hood with Ansul system 6-burner range, 36" flattop, double-basket fryer 2-door prep fridge, 3-door reach-in, walk-in cooler and freezer POS and CCTV package, 4-ton rooftop HVAC, ADA restroom, stainless sinks GROWTH OPPORTUNITIES Add breakfast or weekend brunch service Obtain beer and wine license (margarita program) Launch native online ordering and office catering trays Reactivate take-out window for NJ Transit commuters (half block away) Ghost-kitchen sub-brand for northern Bergen County DUE DILIGENCE PACKAGE (available with NDA) 2022-2024 tax returns Full equipment list and serial numbers Executed lease and options rider DOH inspection history, 2022-2025 (no critical violations) SHOWINGS & CONTACT Confidential tours by appointment only. Proof of funds of at least $100,000 required before release of financials.

FOR SALE DETAILS

PRICE

$125,000 USD

PRICE/SF

$16 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

SPRINKLERS

-

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,018 SF

ZONING

CS

APN/PARCEL ID

392489-068-016-0006-047-000-0000

ASK ABOUT THIS PROPERTY

Paul Adler, Esq., SIORRand CommercialMore Info

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Paul Adler, Esq., SIORRand CommercialMore Info

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.