NY Pizza Restaurant with Real Estate on Magazine St in New Orleans

Description

Pizzeria and bar for sale in Uptown New Orleans at Magazine Street and Napoleon Avenue.

The family-owned business has operated for more than 45 years. The seller describes it as the oldest pizza parlor in Orleans Parish.

The restaurant serves New York-style pizza and Italian food and has built a long-term local customer base.

The property sits on a prominent corner along the Uptown Mardi Gras parade route. According to the seller, seasonal Mardi Gras business typically helps cover annual insurance and property tax costs.

The kitchen operates without freezers or fryers, with food prepared from fresh ingredients.

The building contains approximately 4,275 sq. ft. in total. About 3,533 sq. ft. is used for the restaurant and bar, with an additional approximately 742 sq. ft. upstairs apartment.

The real estate is offered separately at $1.4 million.

The operating business, including furniture, fixtures, equipment and inventory, is also for sale, with the seller considering reasonable offers.

The restaurant is currently run by a father and his twin sons. The primary owner plans to retire. The business is fully staffed, including one employee who has worked there for more than 20 years and is expected to remain after a sale.

A buyer could continue the existing concept or review additional marketing, delivery and more active ownership as possible ways to increase sales. Any future franchising or multi-location expansion would need to be developed separately.

The listing states that bank financing may be available and that some qualified buyers may be able to purchase with approximately 10% down. Financing terms remain subject to lender approval, valuation and borrower qualifications.

A 26-page confidential information memorandum and Matterport 3D scan are available to fully disclosed buyers.

Buyers should verify historical financials, Mardi Gras revenue, liquor license status, real estate condition and value, apartment use, equipment ownership, inventory, employee retention, insurance costs, property taxes and all financing assumptions before closing.