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#5008
Plumas County

Make $100k + Own the building + Free Living Space + Rental Unit

$459,000
Available
Make $100k + Own the building + Free Living Space + Rental Unit
This Listing is Expired

Go Visit this Beautiful City and Restaurant by Selecting the Button To The Left "Want Name/Address."

An incredible opportunity to make $100k+ per year, own the building, have free living quarters as well as rental income. 

This restaurant with real estate is situated in the beautiful Western Sierra Nevada's of N. CA and is located just 70 miles from Lake Tahoe and Reno, Nevada. The restaurant is a locals favorite and has been operating since 1949 with three main families at the helm.  It is the oldest eatery in this historic town and the interior has a funky, rustic and cozy ambience featuring two main dining rooms and a large outdoor patio that blooms 7 months of the year. The restaurant features a beer and wine license and an eclectic menu with pizza, pastas, entrees and grilled items.

There is a HUGE bonus too. There is an apartment (with a separate entrance) upstairs and a studio apartment behind the main building. Live upstairs and have a mother in-laws quarters out back or rent them out and potentially add another $18,000 of annual income. There is also a small garden area for fresh herbs and veggies.There is ample street parking and an adjacent parking lot across the street from the restaurant. 

This small towns main industries are tourism, outdoor recreation and timber.  The weather is mild much of the year and there are four distinct seasons with brilliant colors in the Fall, wildflowers in the spring, snow sports in the winter and hundreds of streams as well as major lakes for water sports in the summer.  

Sales have grown steadily each year: 2014 = $397,000. 2015 = $427,000. 2016 = $434,000. 2017 = $445,000.

SBA LOAN is available for this business, making this an affordable investment. 

2017 Working Owner Cash Flow before financing costs was about $100,000 + per year. Potential to make even more if you have "industry" experience as current owners had no prior restaurant experience.

Put 20% down of about $100,000 and the monthly principle and interest will be about $3,400 depending on the mix of real estate value versus business value. For purposes of this ad, business value is estimated at $159,000 and the real estate value is $300,000. 

To qualify for an SBA loan one must have at least 5 years restaurant management experience, good credit, good tax returns as well as proof of the down payment in the bank for past 3 months. 

This is a Paramount Restaurant Brokers, Inc. listing.
Restaurant Broker Chaz Gaddie DRE License #02057673

Lease

Region:
Plumas County
Lease Term:
Real Estate For Sale

Financials

Last Year's Annual Gross:
$444,000
Last Year's Owner's Cash Flow:
$114,000

Operations

Liquor License:
beer & Wine
# of Part-Time Employees:
20
Hours Open:
7 Days a Week Summer 5 - 9"ish"
5 Days a Week Winter 5 - 8:30"ish"
Year Established:
1935
Hood System Type 1:
Yes
Hood System Type 2:
Yes

Facilities

Indoor Seating:
67
Outdoor Seating:
42
# of Parking Spots:
Public Parking Area
Inside Sq. Ft.:
2120
Outside Sq. Ft.:
700
Lot Dimension:
96x100
Lot Sq. Ft.:
9600
Total Building Sq. Ft.:
Residential/Office Sq. Ft.:
1250

Highlights

  • $100k+ per year income + Own the Real Estate
  • Includes Living Quarters and Rental Unit
  • Quality of Life in Idyllic Mountain Town
  • Classic Stone Facade with Old Wood Flooring and WallsFeels like a Hunting Lodge
  • Quaint and Cozy
  • Long Time Employees
  • Great Staffing
  • Beer & Wine License
  • Garden in Back of Restaurant
  • Short Hours - Dinner Only
  • Immediate accès to Hunting, Fishing and Outdoor Activities
  • NOT ADA COMPLIANT

Financing

Down Payment:
$91,800
Will SBA Finance:
No
Will Seller Lend To Buyer:
No
This Listing is Expired

Demographics

Population 5-mi
2014 Total Population 3,823
Households 5-mi
2010 Number Of Households 2,800
2010 Persons Per Household 2.19
Median House Value $238,987
Income Per Household $50,809
Businesses 5-mi
2009 Number Of Businesses 202
2012 Number Of Employees 3,548
2012 Total Annual Payroll $69,071,000

click for more demographic info

Disclaimer

DISCLAIMER: 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 addition to seeking professional advice from an attorney as well as a CPA.  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 (if included in the sale), 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. In most cases, the Broker represents the Seller who is our principal, but the Broker owes the User a duty of fair and honest dealings.  Any decision by User to purchase the Business shall be based solely on User's own investigation and the 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 and User should often review the listing on the website to keep up to date.


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