***PRICE REDUCED***
Mexican Quick Serve Family Restaurant has stood the test of time with 38 Years of business under original owner.
Located in a well established town in the North Eastern area of the San Fernando Valley with upscale homes and good income numbers.
SO Don't miss this opportunity to get this business at a steal of a price.
2020 Has been a challenging year for most business and particularly the restaurant business. Despite this the restaurant has held its own with Daily Sales averaging in the $1,725 range. The owner being elderly when the shutdowns began he closed up shop for 3 months. With this he still was able to show an adjusted net income of $67,000 (with an estimated net of approximately $90,000 if he were open the full 12 months). This was also done with Shortened Hours of operation, Take Out Only and other restrictions.
2019 the adjusted verifiable net income has been approximately $105,000.
Current Hours of operation are from 11:00AM to 9:00PM and closed on Sundays and Mondays. The restaurant was open for breakfast prior to Covid when Dining Room was open and had a good breakfast business.
The Restaurant has been well maintained and the Kitchen is one of the Cleanest I have seen, and I'm a chef!
They serve Authentic Style Mexican Food and have received 4 Star Yelp and 4.5 Star Google Reviews.
The Lease goes through March 31st, 2024 with a 5 year option available. Total Rent including NNN is ONLY $3,380 a month ($2810 rent + $570 NNN charges). This comes in at only 7% of Gross Sales.
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-broiler. 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.
The Owner and his wife both work at the restaurant and have a couple workers that seem they would stay upon sale of the business.
BUYER OPPORTUNITIES TO SEE SALES and PROFITABILITY RISE
1) Bring Back Breakfast
2) Establish a Website with Online Ordering and Customer rewards program
3) Develop a Social Media Connection with Guests
4) Open on Sunday and Mondays.
5) Increase Third Part Delivery Options.
Buyer must have relevant restaurant experience and solid financials to be approved by the landlord for lease transfer.
DON'T LET THIS ONE GET AWAY... Just Sign the NDA to get name and address. Go by AS A CUSTOMER (PLEASE Do NOT Talk to Employees) and check out this MONEY MAKER!
| 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 |
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