Free-standing Asian on busy Oxnard corner with Bar and Type 47 Hard Liquor

The owners of this Chinese restaurant business in Oxnard also own the real estate, but the real estate is not for sale. Therefore your landlord intimately understands the restaurant business. The building itself is in good condition and looks nice as a Chinese restaurant, but can also be converted to another look without too much work.
The 4,196 square-foot space has an additional 400 sq. ft. of storage space with its own bathroom (it would make a nice office too). The total lot size is 16,030 sq. ft. with 25 parking spaces in front of the building and an additional 5 in back. Currently there are no outdoor seating areas, but new owners are welcome to inistall them. Inside, the dining room seats 115 without utilizing a private dining area (equipped with 2 teppan grilling tables and a full bar) that is now essentially a storage room. The selling price is $250K. The rent on a 5-year plus 5-year option is $7,000 per month plus $700/mo. NNN. That works out to a mere $1.67 per square foot for rent. The current owner will consider adding another 5-year option to the lease.
This property, which has been a restaurant in some form for the last 32 years, has a type 47 liquor license. The kitchen, while fully equipped, is laid out to maximize efficiency of movement. The booths, tables, benches, chairs and decorations will all come with the restaurant. Inside a private room hides a lovely bar and two teppan grilling tables with hood exhausts. These items should definitely be taken advantage of. Considering the furniture and kitchen equipment on hand, it would be quite easy to create a full-service pan-Asian restaurant in this space with a sushi bar, teppan grills, Asian-inflected cocktails, and American desserts. Entrees could range from Chinese to Indian to Japanese to Korean. Or convert it to your new concepts. There is really no limitations.
Right now the casual Chinese restaurant employs 3 people in the kitchen full-time and 3 people up front full-time. Four to five more employees are brought in part-time as needed.
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Demographics

Population	1-mi.	3-mi.	5-mi
2014 Total Population	58,753	105,098	190,507
Households	1-mi.	3-mi.	5-mi
2010 Number Of Households	14,903	26,557	54,565
2010 Persons Per Household	3.94	3.78	3.29
Median House Value	$342,600	$349,007	$362,241
Income Per Household	$55,271	$59,730	$65,175
Businesses	1-mi.	3-mi.	5-mi
2009 Number Of Businesses	1,551	2,253	3,114
2012 Number Of Employees	51,938	73,802	86,194
2012 Total Annual Payroll	$1,056,738,000	$1,471,876,000	$1,680,766,000

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