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Great Neighborhood Profitable Restaurant - Sba Approved For Sale

California
Asking Price:
$349,000 (USD)
Sales Revenue:
$554,870 (USD)
Cash Flow:
$149,000 (USD)

The restaurant: This causal full service Italian and American restaurant, operating for nearly 40 years, is a local favorite because of service, quality and price. The restaurant features an outside patio as well as a beer and wine license. Serving breakfast, lunch and dinner with both traditional Italian as well as American dishes, this restaurant has revived itself of the past few years with sales increasing each year from $323,000 in 2016 to $555,000 in 2018. That's a great sign the business is gaining momentum and the best time to buy is when sales are going up.

The numbers: This business has verifiable tax returns. 2018 Revenues were $554,870 with an adjusted owner working cash flow of $149,000, making this a great buy at the $349,000 price giving this an incredible 2.3 multiple. Buyer should perform their own financial verification due diligence.

Sba loan: Since this business has good tax returns, we're able to obtain an SBA loan with 20% down or just $75,000. Your payment would be about $3,410 a month for 10 years, leaving an annual after debt service cash flow of about $108,000.

Lease: Lease expires in 2025 plus a 10 year option, so you'll feel secure with having plenty of time left on the lease. The Total Rent is only about $5,500 for 1,680 Sq. Ft. plus about 200 Sq. Ft. of patio.

Location: Located in a shopping center with plenty of parking, this end-cap unit may only be 1,680 Sq. Ft. but it seats 38 patron inside and another 24 outside, making it an efficient use of leased space. The demographics are strong as well with a 3 mile population of 45,000, Amgen across the road, and average household income of nearly $105,000.

Reason for selling: Seller is moving to San Diego to be closer to his son.

Property information

Real Estate:

Lease

Leasehold Rent:

$65,688 (USD) per annum

Business Operation

Trading hours:

8AM - 8:30PM Tuesday - Sunday
Closed Monday

Employees:
11
Years established:
1981-Present

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