#5580
San Fernando Valley

MAJOR PRICE REDUCTION - KILLER DEAL - $109k Profit

$195,000
Available
MAJOR PRICE REDUCTION - KILLER DEAL - $109k Profit



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OWNER WANTS OUT BY CHRISTMAS.

BRING ALL OFFERS.

RARELY does a restaurant with this level of pride of ownership and history come to market and especially at this price and less than 2 multiple. After 38 years, the ORIGINAL - working owner has decided to retire. This is a TURNKEY restaurant allowing you to take over and be operating profitably from day 1. There are solid - tax returns to verify the $109,000 per year in owner's cash flow. This is an INCREDIBLE opportunity for a working family to eliminate labor and make even more money. Would also be great for an E2 Visa.

The restaurant and kitchen are impeccable and the quality of food excellent. 4 star rating on Yelp and 4.5 stars on Google Reviews. Serving quick serve AUTHENTIC Mexican food 6 days a week. Stay closed Sunday and enjoy a day off or open and increase sales and profitability. 

KITCHEN: Large kitchen with walk-in refrigerator and freezer offers ample room for increased production and catering. 12' Class 1 hood system with Stock Pot Burner, Double Basket Fryer, Wolf Cheese Melter, Double Burner and Char-brolier. Additional kitchen equipment includes Slicer, Hobart grinding and shredding machine, Waring Commercial Heavy Duty Blender, Double drawer chip warmer, 4 Full Hotel Pan Steam Table, Microwave, Large - 3 Compartment Heavy Duty Stainless Steel Sink, Stainless Steel work-top Tables, Ice Machine, 

In addition there are LOTS of Metro Racks with QUALITY Pots, Pans, Baking Sheet Trays, and additional small-wares.

OPPORTUNITY TO GROW: There is currently no website or social media marketing so there is tremendous opportunity to increase sales by implementing a web presence and going after delivery programs such as Uber-Eats, Grub Hub and other delivery systems. 

LEASE: Lease expires March 2024 plus one 5 year option.

20% down - $40,000, a credit score of 700+ and at least 5 years of industry experience required to qualify for SBA loan.

Must have relevant restaurant experience and solid financials to be approved by landlord.

 

This is a Paramount Restaurant Brokers, Inc. listing.
Restaurant Broker Chaz Gaddie DRE License #02057673

Lease

Region:
San Fernando Valley
Lease Term:
Expires March 31, 2024 + 1 Five Year Option
Total Monthly Rent:
$3,400
Security Deposit:
$3,400

Financials

Last Year's Annual Gross:
$578,376
Last Year's Owner's Cash Flow:
$109,000
Last Year's Food Cost %:
23.9
Last Year's Payroll Cost %:
22.7
Last Year's Rent %:
6.7

Operations

Liquor License:
None
# of Full-Time Employees:
2
# of Part-Time Employees:
5
# of Working Owners:
2
Hours Open:
Monday - Saturday 11 to 9
Year Established:
1984
Hood System Type 1:
Yes

Facilities

Indoor Seating:
34
# of Parking Spots:
Shared - Shopping Center
Inside Sq. Ft.:
1680

Highlights

  • PROFITABLE with $109k per Year CASH Flow
  • First Time on Market in 38 Years
  • Assumable Below Market Lease
  • IMPECCABLE Pride of Ownership
  • Solid Tax Returns
  • SBA loan with 20% down, good credit and 5 years industry experience
  • Lots of upside Potential
  • Turnkey
  • EXCELLENT Opportunity for Working Family
  • Excellent Parking
  • Authentic Recipes
  • Major Thouroughfare

Financing

Will SBA Finance:
Yes
Will Seller Lend To Buyer:
No

Demographics

Population 3-mi. 5-mi
2014 Total Population 27,857 87,810
Households 3-mi. 5-mi
2010 Number Of Households 9,987 31,396
2010 Persons Per Household 2.74 2.74
Median House Value $404,600 $478,894
Income Per Household $57,500 $71,808
Businesses 3-mi. 5-mi
2009 Number Of Businesses 328 1,629
2012 Number Of Employees 4,174 22,428
2012 Total Annual Payroll $59,430,000 $343,129,000

click for more demographic info

Disclaimer

DISCLAIMER: The User (that's you reading this) of this Website understands that Paramount Restaurant Brokers, Inc. ("Broker") or its agent(s) do not audit or verify any above information given to or gathered by Broker or its agent(s) from Seller, our Client, or make any warranties or representations as to its accuracy or completeness of the information provided, nor in any way guarantee future business performance. The User should perform a complete and detailed due diligence on the business and or real estate before buying it in addition to seeking professional advice from an attorney as well as a CPA.  In some cases, forward looking statements may have been made but these statements are absolutely no guarantees of future performance of the business as each User has differing skills sets to either grow the business or kill the business.  Owning a business is a risky venture, but can also be a rewarding one.  The User of this website is solely responsible to examine and investigate the Business and or real estate (if included in the sale), its assets, liabilities, financial statements, tax returns, and any other facts which might influence the User's purchase decision or the price the User is willing to pay. In most cases, the Broker represents the Seller who is our principal, but the Broker owes the User a duty of fair and honest dealings.  Any decision by User to purchase the Business shall be based solely on User's own investigation and the User's legal, tax, and other advisors and not that of Broker or its agent(s). Any listing information may change at any time without any notice to User and User should often review the listing on the website to keep up to date.


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