Restaurant

Restaurant

Available

$182,000.00

Listing Number :

 3760

Status :

Expired

Price :

$182000

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Area

1200

Description

This is a very popular Mediterranean restaurant. It is a family start-up, grew extremely fast and now has approached almost 5 locations. The owner is now ready to retire and hand off his legacy to a new operator who can continue to grow his concept. This is one of the three that they are selling. The restaurant is located is 1,200 sq. ft. in an excellent location with Major anchors Businesses and other Restaurants and Cafe such as El pollo Loco, Lowe and CVS. Current rent is $5,700/month, lease expires in 2021 with 1 x 5 years option. Hours of operation are: 7 days a week (11:30 am to 8:30 pm). Seller claims gross yearly revenue is $550,000 and yearly net is $96,000. The restaurant is equipped with a full kitchen and recently remodeled with a type 4 hood. This a great opportunity for someone looking for a turn-key business that makes immediate cash flow. Owner is semi-absentee with a full staff wanting to stay on board. New owner does not need to change anything, but to continue to grow the business as it has been extremely successful.

3760

Business Information Financial Information
Ownership Type:  Corporation
Year Established:
Year Purchased:
Business Type: Restaurant ( Mediterranean)
License(s) Required: Business, Heath
Hours of Operation: 11.00am-8.30pm/7 x days a week
Business Relocatable: No
Business Is A Franchise: No
Home Based: No
Broker To Broker CoOp:  No
Office Listing Number: 3760
Date Available: 8/12/2019
Reason For Sale: Retiring
Annual Total Revenue: 550,000
Annual Net Income: 96,000
Inventory: 200,000
Monthly Payroll:
Lease Information
Base Rent: 5,700/m
Lease Expires: 2021
Lease Option: 1 x 5 years Option
NNN:
 
Financing Information
Down Payment: 182,000
Owner Will Carry:
Other Finance Terms:

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