* Included in Asking Price
Building with Established Bar For Sale in Chico. $250k in Recent Upgrades! Seller Financing Option
Location: 2010 Park Avenue, Chico
This is a rare opportunity to purchase an upgraded property with a popular bar/restaurant concept within. The owner invested heavily in the business in 2020-2021 by adding a freshly designed and constructed front patio and building facade, adding massive curb appeal. The patio alone can hold 70 guests. The visibility along this high traffic corridor was vastly improved, and draws business. Other investments to the interior and equipment have also been made. More than $250,000 was invested in these upgrades.
The new patio also has gas heaters and swamp coolers for those hot Summer months. There are also two large HD TVs outside and a patio speaker system that is separate from the bar area which is great for sporting events or private event use. The front and back patios are a gas-lined, in-ground, for fire pits and permanent gas heating system.
The profitable bar has a great food program and holds a great reputation amongst locals. Guests visit for the food and drinks, but also come for sporting events and special occasions. The bar has an Antique back bar that was converted from an 1890's pharmaceutical cabinet. There is also a 14 beer tap system.
The functional and compact kitchen has a Type-1 Hood and has upgraded and new equipment within. The new or less than two years old equipment includes a 9'x10' Walk-In Fridge, Freezer Unit, Sandwich Prep Cooler, Flat Top Griddle with Refrigerated Drawers, Under Counter Fridge, Commercial Dishwasher and even a Tankless Water Heater. There are two upgraded bathrooms. There is Room for 70 on the patio and space for 45 inside at the bar and surrounding tables. The property has a separate back building that is used for extra storage and work space, which also includes a large amount of equipment and refrigeration.
A new hands-on owner can really grow profits within this business. There is the ability to expand hours and days of operation. The annual sales have climbed from 2018 year over year, and also rebounded from closures in 2020 due to the Pandemic, construction and more limited hours of operation. 2022 sales are on track to reach nearly $1,000,000 even while being closed one day a week.
The seller is open to a reasonable amount of Seller Financing, and this business and building would likely be able to be refinanced with an SBA loan after roughly 18-24months of strong operations.
Suggested Terms: 10 year note (amortized payments based on 30 year term) balloon payment in 10 years, Fully amortized payments over 20 years, 7-8% interest, Cash purchase of business and liquor license, finance the building with 25-30% down payment.
Local comparable prices for an upgraded property, building and business are below market. Opportunities to purchase a building, strong bar concept and liquor license, with potential Seller Financing are rare. Don't miss out on this opportunity that is priced to sell.
For more information please visit: https://www.restaurantrealty.com/listings/4405/
Monthly Revenue: Contact For Info
Monthly Cash Flow: Contact For Info
Annual Revenue: Contact For Info
Annual Cash Flow: Contact For Info
Payroll: Contact for Info
Current Owner: 2010
Reason For Sale: Other Interests
Monthly Rent: $4,500 (suggested)
Square Feet: 4,792sf Property 1,776 Building
Seating: 45 inside, 70 patio
Parking: Easy Street Parking
Licenses: Type 47 Liquor License, Health & Business
Days/Hours of Operation: 11-11pm Wed-Fri, 11-9 Mon-Tues, 9am-11pm Sat, 9am-9pm Sun
|Facilities:||Square Feet: 4,792sf Property 1,776 Building
Seating: 45 inside, 70 patio
Parking: Easy Street Parking|
|Sale Reason:||Other Interests|
Seller Reference #4405
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