Phoenix Restaurants For Sale
Minutes from Biltmore Area - Retail Commercial Real Estate + Business
THE PROPERTY: This is a retail commercial property with 7,500 Sq. Ft. and just minutes from the Biltmore area. The Sq. Ft. is divided into two separate businesses. 1,000 Sq. Ft. is leased to a popular pizza restaurant operator with a monthly rent of $1,650 while the other 6,500 Sq. Ft. is a business owned and operated by the person who owns the real estate. The business contains several businesses including a restaurant, a specialty market, and a large catering business.
There are three contiguos commercial lots measuring 50' x 130' making up a total lot Sq. Ft. of 19,500. There are 29 parking spaces with additional parking next door. The owner of the property claims the next door neighbor allows his customers to park, but a buyer should secure an agreement with the neighbor before purchasing this property if the buyer's business will be dependent on additional parking.
THE BUSINESS: This business has been established since 1967 serving a very specialize niche and high demand product in the Phoenix area. There is a restaurant, specialty market, deli and catering business included in the purchase. Much of the catering business comes from hotels and catering private events all over the state.
THE LOCATION: This property minutes from the highly desirable Biltmore area, providing a great opportunity for anyone who has good sales skills to sell more catering business to the resorts, hotels and country clubs.
THE NUMBERS: Gross Revenue for the businesses in 2010 was $931,000 with a Net Income before rent expense of approximately $101,000. Food costs are running about 43% while labor costs are running about 30% fully loaded. So there is room for improvement.
FINANCING: It is possible the current lienholder, who holds about $590,000 of debt on the real estate, would consider financing the purchase to a very qualified buyer. Call for details.
REASON FOR SELLING: Owner's son was running this business for a couple years and recently moved back to New York leaving his father with a business that the father has no experience running. As the owner says "when you shoot a duck, you take it to the butcher" meaning let the professionals run a business. The owner is an engineer and import/export expert, not a restaurant person.
WANT NAME AND ADDRESS: Select the orange button titled "want name and address" and you're on your way to getting the names and address of all our listing instantly without going through a broker!
a Paramount Restaurant Brokers, inc. Listing.
Broker of Record Rob Tade DRE License #01339409
Lease
Financials
Operations
Friday 8am - 3pm
Facilities
Highlights
- Minutes from Biltmore and the resorts and country clubs
- Heart of Phoenix area
- 7,500 Sq. Ft. building
- Specialty Market, Restaurant, Catering
- Leased space of 1,000 sq. ft. paying $1,650/Month for rent
- Number 10 Liquor License
- 150X130 lot - 3 lots combined into one for lower tax rates
- Four Walk-in coolers/freezers
- Double sided Hood for Cooking and baking
- Lots of storage space
- Large Street Frontage Signage on one of Phoenix
- Plenty of commercial, office, residential and retail businesses in the area
Financing
Demographics
| Population | 1-mi. | 3-mi. | 5-mi |
|---|---|---|---|
| 2014 Total Population | 34,598 | 137,323 | 375,046 |
| Households | 1-mi. | 3-mi. | 5-mi |
| 2010 Number Of Households | 14,905 | 53,462 | 138,058 |
| 2010 Persons Per Household | 2.05 | 2.26 | 2.45 |
| Median House Value | $214,768 | $177,602 | $183,671 |
| Income Per Household | $43,445 | $41,114 | $39,196 |
| Businesses | 1-mi. | 3-mi. | 5-mi |
| 2009 Number Of Businesses | 1,918 | 5,450 | 12,336 |
| 2012 Number Of Employees | 71,994 | 206,568 | 487,562 |
| 2012 Total Annual Payroll | $2,015,046,000 | $4,294,967,295 | $4,294,967,295 |
click for more demographic info
Disclaimer
Notice: The User (that's you reading this) of this Website understands that STONE PATH BROKERAGE SERVICES CORPORATION ("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. DRE License # 01339409.