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#5250
Ventura Restaurants For Sale

Profitable Restaurant - Thousand Oaks- SBA Approved Great Neighborhood

$349,000
In Escrow
Profitable Restaurant - Thousand Oaks- SBA Approved Great Neighborhood



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THE RESTAURANT: This causal full service American restaurant serving breakfast, lunch and dinner. Operating under same name and core menu for nearly 40 years.It is a local favorite because of service, quality and price that brings guests back often. The restaurant features an outside patio as well as a beer and wine license. Owner has added some traditional Italian favorites as well as the American dishes, this restaurant has revived itself of the past few years with sales increasing each year from $323,000 in 2016 to $555,000 in 2018 AND 2019 $577,447 with beginning of 2020 still higher (until Covid 19 shutdown) Currently sales are returning since opening dining room. That's a great sign the business is gaining momentum and the best time to buy is when sales are going up and to continue the trend. 

THE NUMBERS: This business has verifiable tax returns and just passed a SBOE audit with flying colors (getting a refund).  2018 Revenues were $554,870 with an adjusted owner working cash flow of $122,000+, making this a great buy at the $349,000 price giving this an incredible 2.3 multiple. Buyer should perform their own financial verification due diligence. With 2019 numbers in and sales of $577,447 and an adjusted net profit of $134.500+.

SBA LOAN: Since this business has good tax returns, we're able to obtain an SBA loan with 20% down or just $75,000.  Your payment would be about $3,410 a month for 10 years, leaving an annual after debt service cash flow of about $93,580. 

LEASE: Lease expires in 2025 plus a 10 year option, so you'll feel secure with having plenty of time left on the lease. The Total Rent is only about $5,500 for 1,680 Sq. Ft. plus about 200 Sq. Ft. of patio. 

LOCATION: Located in a shopping center with plenty of parking, this end-cap unit may only be 1,680 Sq. Ft. but it seats 38 patron inside and another 24 outside, making it an efficient use of leased space. The demographics are strong as well with a 3 mile population of 45,000, Amgen and many other companies are just across the road, and average household income of nearly $105,000.

REASON FOR SELLING: Seller is considering a move to San Diego to be closer to his son and family. 

This is a a Paramount Restaurant Brokers, Inc. listing.
Restaurant Broker Stuart Schlosser DRE License #01809021

Lease

Region:
Ventura Restaurants For Sale
Lease Term:
March 31, 2025 + 10 year option
Total Monthly Rent:
$5,815
Security Deposit:
$6,514

Financials

Last Year's Annual Gross:
$577,447
Last Year's Owner's Cash Flow:
$134,500
Last Year's Food Cost %:
31.3
Last Year's Payroll Cost %:
19.9
Last Year's Rent %:
11.5

Operations

Liquor License:
41
# of Full-Time Employees:
2
# of Part-Time Employees:
6
# of Family Employees:
1
# of Working Owners:
2
Hours Open:
8AM - 8:30PM Tuesday - Sunday
Closed Monday
Year Established:
1981
Hood System Type 1:
Yes
Hood System Type 2:
Yes

Facilities

Indoor Seating:
38
Outdoor Seating:
24
# of Parking Spots:
Shopping Center
Inside Sq. Ft.:
1,680
Outside Sq. Ft.:
200

Highlights

  • Biotech Area of Thousand Oaks
  • Nearly 40 Years Operating
  • Yelp, Trip Advisor and Yahoo 4.5 Stars
  • PATIO with Beer & Wine
  • Shopping Center Parking
  • Trained Kitchen Staff
  • Sales Growing year over year
  • SBA APPROVED for qualifying Buyer

Financing

Down Payment:
$70,000
Will SBA Finance:
Yes
Est. Monthly SBA Loan Payment:
$3,410
Est. Annual Interest Rate:
8%
Will Seller Lend To Buyer:
No

Demographics

Population 3-mi. 5-mi
2014 Total Population 45,315 80,308
Households 3-mi. 5-mi
2010 Number Of Households 15,076 28,066
2010 Persons Per Household 2.93 2.77
Median House Value $576,600 $532,168
Income Per Household $104,665 $99,899
Businesses 3-mi. 5-mi
2009 Number Of Businesses 1,167 2,091
2012 Number Of Employees 0 29,790
2012 Total Annual Payroll $0 $896,297,000

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, foreward 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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