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#3114
Tempe

West Mesa Family Style Restaurant with Proven History and Profit

$195,000
Sold
West Mesa Family Style Restaurant with Proven History and Profit
This Listing is Sold

If you've been looking for a stable restaurant with a history of loyal customers over several years and you want to be in the west end of the Mesa, then stop and look at this business. The owner will carry a portion of the purchase price for the right buyer.

This place has a Denny's style menu where an expensive chef is not needed. There is one family member working the restaurant, so this is perfect for a whole family to work and dramatically increase the profit.

Of course, the employees will stay if that's what you want.

This restaurant is located in a standalone building on a major street in a neighborhood community. This isn't a seasonal restaurant where the snow-birds come and go driving business owners crazy during the hot summer. This restaurant is smack in the middle of a community of homes, apartments and businesses and one one of Mesa's busiest streets.

It has a great reputation for serving wonderful comfort food at a reasonable price; hence why it has done well during the recession.

The reported revenue is over $517,000 for 2009 with an adjusted net for 2009 of more than $125,000.

The restaurant is in fair shape and all I would do is the floors. The owner of the business owns the real estate, so perhaps you can negotiate a deal for the flooring.

The rent is $5,000 all-in including the taxes and insurance. The tenant will maintain the building.

You can buy the real estate if you like. In that case the cash flow available to purchase the real estate is closer to $190,000 annually.

A Paramount Restaurant Brokers, Inc. Listing

This is a Paramount Restaurant Brokers, Inc. DBA SellingRestaurants.com listing.
Broker Mel Jones DRE License #CA00893362 and AZ BR634507000

Lease

Region:
Tempe
Lease Term:
New Lease
Total Monthly Rent:
$5,000

Financials

Last Year's Annual Gross:
$517,000
Last Year's Owner's Cash Flow:
$128,000

Operations

# of Full-Time Employees:
9
# of Part-Time Employees:
2
# of Family Employees:
1
Hours Open:
Saturday and Monday 5am-3pm
Tuesday - Friday 5am - 8pm
Sunday 6:30am - 2pm
Year Established:
2004
Hood System Type 1:
Yes

Facilities

Indoor Seating:
160
# of Parking Spots:
32
Inside Sq. Ft.:
4264

Highlights

  • Busy Family Restaurant on Corner Lot
  • Stand Alone Building w/4264 Sq. Ft.
  • Plenthy of Parking w/32 Spots plus Street Parking
  • Banquet Room For Private Parties
  • Owen of Business is Owner of Real estate
  • Owner Will Carry w/$150,000 Down.
  • Rent is Low Per Sq. Ft. at Just Above $14 Sq. Ft
  • Business is Fully Staffed

Financing

Will SBA Finance:
No
Will Seller Lend To Buyer:
No
This Listing is Sold

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

click for more demographic info

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.

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