* Included in Asking Price
Popular & Successful Mexican Restaurant Located In A Free Standing Building On Major Chico City Hwy
Asking Price: $175,000
Location: Chico, Butte County, California
Yearly Revenue: $600,000
Yearly Cash Flow: $60,000
Monthly Rent: 5,500 Negotiable
Only $175,000 for this Popular & Successful Mexican Restaurant in Chico which has been in the present ownership for 12 years and in business since 1974. The owner maybe willing to negotiate terms of a new lease and may even carry a portion of the sale to well qualified experienced buyers with good credit. 3,000 square feet of ''Free Standing'' building with ample parking for 60 and restaurant seating for 80 with an ABC type 41 beer and wine license. Chico is a University city and this Mexican restaurant is extremely popular with the locals and students. Many recent upgrades include new HVAC system, kitchen Grease Trap, Booth seating, Table & Chairs and Kitchen upgrades. Total recent renovations exceed $100,000. The kitchen is fully equipped and well able to cope with the demands of this busy establishment, while the dining room with its combination of tables, chairs and booths creates an authentic Mexican atmosphere. The owner is 78 and now wishes to retire from the day-to-day business operations but remain as the Landlord. The restaurant is in a ''Turn Key'' condition together with many long serving employees making this the pride of the city. There will be a new lease available to interested parties with the initial monthly rent of $5,500 fixed for 2 years with 3% annual increases thereafter. Owner operators are preferred but the owner/landlord will review all buyers to purchase and run this business opportunity. 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: 1974 | Current Owner: 2006 | Employees: 15 | Seating: 80 | Square Footage: 3068 | Parking: 60 | Licenses Required: Business, Health Permit & ABC Type 41 License | Days Open/Hours: 11.00am - 9.00pm Daily | Reason For Sale: Other Interests |
Yearly Revenues: $600,000 | Yearly Cash Flow: $60,000 | Payroll: $17000 |
Monthly Rent: 5,500 Negotiable | Lease Expiration: New Lease Negotiable | Yearly Adjustment: 3% | Lease Option: New Lease Negotiable | Security Deposit: 5,500 |
Seller Reference #3044
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