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THE RESTAURANT: This causal full service Italian and American restaurant, operating for nearly 40 years, is a local favorite because of service, quality and price. The restaurant features an outside patio as well as a beer and wine license. Serving breakfast, lunch and dinner with both traditional Italian as well as 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. That's a great sign the business is gaining momentum and the best time to buy is when sales are going up.
THE NUMBERS: This business has verifiable tax returns. 2018 Revenues were $554,870 with an adjusted owner working cash flow of $149,000, 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.
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 $108,000.
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 across the road, and average household income of nearly $105,000.
REASON FOR SELLING: Seller is moving to San Diego to be closer to his son.This is a a Paramount Restaurant Brokers, Inc. listing.
|2014 Total Population||45,315||80,308|
|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|
|2009 Number Of Businesses||1,167||2,091|
|2012 Number Of Employees||0||29,790|
|2012 Total Annual Payroll||$0||$896,297,000|
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.