* Included in Asking Price
4,000 Sq Ft Breakfast, Lunch, Dinner House & Bakery Located In Busy Central Valley University City
Asking Price: $795,000
Location: Merced County, Merced County, California
Yearly Revenue: $2,755,800
Yearly Cash Flow: $317,004
Monthly Rent: $7,500 Base/5% Rent + $1,600 NNN
SBA Loan pre-approved for this successful & profitable 4,000 sq ft Breakfast, Lunch & Dinner House & Bakery which has been in the same ownership since 1995 with consistent annual profits above $300,000. The owner is Quasi Absentee as the day-to-day business operation is run by long term management. The owner oversee's the menu, back office, marketing and financials. Over 600+ customers daily enjoy full meals and homemade bakery products producing almost $2.8 million in annual revenue. The location near I- 99 enjoys the added benefit of being a University city with a population of 83,000. The neighboring cities of Turlock, Atwater and Modesto increase the local population in excess of 400,000. 23 years under the same ownership, this restaurant has an enviable local reputation with annual sales enjoying a strong growth spurt from the $2.4 million in 2015 to $2.8 million in 2017. Consistent month on month revenue of around $230,000 with the busy local support make this restaurant a relatively simple operation which should remain on it's current growth path to hit $3 million by 2020. Priced at $795,000 with a pre=approved SBA loan, a buyer would only need 25% cash down (approx $200,000) to purchase this successful and profitable restaurant. Buyer needs to possess restaurant management experience, a good track record and credit history and a 10 year SBA loan would be available. Please complete the ‘Non Disclosure Agreement’ on our site and we will send you the name and address with the full financial information, lease & the list of equipment included with the purchase. We’ll also send you the Broker's contact information so you can discuss this opportunity in more detail.
Organization: Corporation | Year Established: 1980 | Current Owner: 1995 | Employees: 30 FT & 30PT | Seating: 190 | Square Footage: 4000 | Parking: 50+ | Licenses Required: Health Permit, Business and ABC Type 41 Licenses. | Days Open/Hours: 6am - 11am Daily | Reason For Sale: Other Interests |
Yearly Revenues: $2,755,800 | Yearly Cash Flow: $317,004 |
Monthly Rent: $7,500 Base/5% Rent + $1,600 NNN | Lease Expiration: 2022 | Yearly Adjustment: 4% Annually | Lease Option: 5 Year Option to Extend | Security Deposit: 7,500 |
Seller Reference #2973
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