Tempe Restaurants For Sale
West Mesa Family Style Restaurant with Real Estate
In Escrow
This is a great restaurant which has been in operation for more than 6 years. If you're looking for a stable and profitable business that includes the real estate, then you must look at this deal.
This is not a seasonal restaurant catering to snow birds; rather it caters to the neighborhood and local businesses in the area by serving great comfort food at wonderful prices. The local crowd loves this place! Sales don't fluxuate more than 10% any given months according to the owner. The owner's tell the broker monthly sales are in the $50,000 range, but the buyer should certainly check these figures as the seller won't produce income statements.
And speaking of the owners, one of them is ready to retire at 74 years young and cashing in his chips. He's build a career in the family restaurant business and he wants to show you how to own and operate a successful family restaurant too. The other owner is moving on from this partnership.
The restaurant sits on 0.47 acres of a corner lot containing a stand alone building with a huge parking lot for 32 cars a street monument sign with AAA street visibility on this major throughfare. There are 4,264 Sq. Ft. of restaurant space with a banquet room and two kitchen areas.
Financing this transaction is a challenge due to lack of financials from the seller and will take a current restaurant owner with solid business financials to purchase it.
SBA loan is not available unless you're adding a location to your restaurant holdings. Seller will not finance either.
You want to visit this restaurant? Then just select the "get name and address" button below and you'll be on your way.
DOING THE MATH:
This space should lease for $60,000 a year triple net income. Using a Cap rate of 8.0% places a value of $750,000 on the real estate alone. The business owner says sales are about $600,000 a year placing a business value of about $200,000 for a total value of $950,000 and you can now get it for $850,000!
Broker Mel Jones DRE License #CA00893362 and AZ BR634507000
Lease
Financials
Operations
Tuesday - Friday 5am - 8pm
Sunday 6:30am - 2pm
Facilities
Highlights
- Located on one of Mesa
- Not a Seasonal Business - Good Steady Business.
- Plenty of parking and seating for 160.
- Serves Breakfast and Lunch 7 days and Dinner 4 Nights a week.
- Well Run Restaurant.
- Real Estate included in the sale.
- Owner will train at no cost.
- Property is worth more than $700,000, making the business worth $250,000.
- Operating for 7 years.
- Local Favorite for Business as well as the community.
Financing
Demographics
| Population | 1-mi. | 3-mi. | 5-mi |
|---|---|---|---|
| 2014 Total Population | 51,810 | 89,817 | 251,885 |
| Households | 1-mi. | 3-mi. | 5-mi |
| 2010 Number Of Households | 17,915 | 30,087 | 92,859 |
| 2010 Persons Per Household | 2.55 | 2.70 | 2.46 |
| Median House Value | $119,900 | $138,065 | $148,796 |
| Income Per Household | $34,589 | $39,443 | $38,501 |
| Businesses | 1-mi. | 3-mi. | 5-mi |
| 2009 Number Of Businesses | 902 | 1,578 | 6,382 |
| 2012 Number Of Employees | 26,626 | 38,148 | 242,936 |
| 2012 Total Annual Payroll | $488,588,000 | $664,783,000 | $4,294,967,295 |
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Disclaimer
Notice: The User (that's you reading this) of this Website understands that Paramount Restaurant Brokers, Inc. ("Broker") or its agent(s) do not audit or verify any above information given to or gathered by Broker or its agent(s) from Seller, our Client, or make any warranties or representations as to its accuracy or completeness of the information provided, nor in any way guarantee future business performance. The User should perform a complete and detailed due diligence on the business and or real estate before buying it. In some cases, forward looking statements may have been made but these statements are absolutely no guarantees of future performance of the business as each User has differing skills sets to either grow the business or kill the business. Owning a business is a risky venture, but can also be a rewarding one. The User of this website is solely responsible to examine and investigate the Business and or real estate, its assets, liabilities, financial statements, tax returns, and any other facts which might influence the User's purchase decision or the price the User is willing to pay. Any decision by User to purchase the Business shall be based solely on User's own investigation and that of User's legal, tax, and other advisors and not that of Broker or its agent(s). Any listing information may change at any time without any notice to User.