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#694
Ventura Restaurants For Sale

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

$250,000
Free-standing Asian on busy Oxnard corner with Bar and Type 47 Hard Liquor
This Listing is Expired
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.
Submit the online confidentiality agreement in order to receive this restaurant's name and address. Completing the confidentiality form also entitles you to view additional photos and receive advance notice of new listings in your area so you can digest all the hottest bites first.
Agent Puffin So DRE License #01730371

Lease

Region:
Ventura Restaurants For Sale
Lease Term:
5+5
Total Monthly Rent:
$7,000

Operations

Liquor License:
47
# of Full-Time Employees:
6
# of Part-Time Employees:
5
# of Family Employees:
8
Year Established:
1975
Hood System Type 1:
Yes

Facilities

Indoor Seating:
115
# of Parking Spots:
30
Inside Sq. Ft.:
4,196
Outside Sq. Ft.:
500

Highlights

  • Free-standing building on large lot with plenty of parking
  • Located at the intersection of two main, high-traffic roads in Oxnard
  • Very low rent at $1,52 per square foot
  • Owner will offer 5+5+5 year lease if desired
  • Full bar with type 47 liquor license included
  • Location has been a restaurant for the last 32 years
  • 4,196 sq. ft. which seats 115 not including a private room
  • Equipped with a full bar and 2 teppan tables with hood
  • 400 sq ft attic is large enough to double as office space, storage with lights and bathroom
  • Building is plain but can be dressed up
  • Oxnard is in the midst of an urban evolution that will bring more residents and economic growth to the area
  • New high-rise buildings have been approved for area near restaurant

Financing

Will SBA Finance:
No
Will Seller Lend To Buyer:
No

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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Disclaimer

DISCLAIMER: The User (that's you reading this) of this Website understands that Stone Path Brokerage Services, 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 addition to seeking professional advice from an attorney as well as a CPA.  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 (if included in the sale), 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. In most cases, the Broker represents the Seller who is our principal, but the Broker owes the User a duty of fair and honest dealings.  Any decision by User to purchase the Business shall be based solely on User's own investigation and the 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 and User should often review the listing on the website to keep up to date.


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