Real Estate Included - Less Than 10% Down! Owner Carry- Central Valley Restaurant, Bar & Banqueting.

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Real Estate Included - Less Than 10% Down! Owner Carry- Central Valley Restaurant, Bar & Banqueting.

RRC#: 3883
Price Reduced: Offered At $1,400,000
Location: Merced County
Annual Revenue: $1,550,000
Annual Cash Flow: $140,000
Monthly Rent: Real Estate Included

Listing Description:
Less than 10% down! Central Valley Restaurant & Bar with Real Estate. The owner is prepared to be the Bank and offer a 15 year carry back loan to well qualified Buyers with restaurant experience and good credit. The loan scenario would be the Buyer places a deposit of $100,000 and the Seller loans the remaining $1.3million at 5% interest amortized over 15 years. The Seller expects no less than $7,500 or 6% of the sales revenue monthly whichever is the greater. All monthly payments go toward the purchase of the business and real estate. The success & history of this Bar & Restaurant dates back to 1952 and has been in the present ownership since 1988. After 32 years the owners now wishes to retire and pass on their highly successful business. 1 acre of Land and Buildings is included together with this 10,000 sq ft bar & restaurant & 2 patio’s with it’s massive parking lot . The ambiance of stepping back in history & grandeur runs throughout. All the furniture, fixtures and fittings are in excellent condition with the beautiful redwood ceiling in the bar which seats 80. The high beamed ceiling in the dining room creates a wonderful atmosphere seating 120. There is also a private dining room seating 20 and a further large banqueting room seating 175. No expense has been spared on many recent upgrades, which include both brand new ADA compliant restrooms and a beautifully restored banqueting room. There is a full ABC Type 47 hard liquor license included with the 2019 annual sales of $1.550 million with $140,000 owners discretionary cash-flow. The whole establishment is full of historical character and has been modernized and upgraded by the present owners. There are two kitchens, one for preparation, bar and banquets, the second kitchen is for the dining room. Both are modern and fully equipped to take on whatever current & future demands are required. Two walk-in cold rooms and a walk-in freezer with both kitchens well appointed using high-grade commercial broilers, stoves, ovens and fryers. To receive more information and discuss this opportunity with the broker please complete the ‘Non-Disclosure Agreement’ on our website and we’ll send you the name and address of this business opportunity along with full financial information & a full list of equipment included with the sale. We’ll also send you the Broker’s direct contact information so you can discuss this opportunity in more detail.

General Information:
Established: 1952
Current Owner: 1988
Employees: 24
Reason For Sale: Retirement

Financial Information:
Monthly Revenue: $130,000
Monthly Cash Flow: $11,670
Annual Revenue: $1,550,000
Annual Cash Flow: $140,000
Monthly Payroll: $40,000

Square Feet: 10,000
Seating: 200 + 2 Patio's & 175 Banquesting
Hours: 4pm - 10pm Daily
Parking: 100+

Sale Reason:

Retirement