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#663
San Bernardino Restaurants For Sale

Take Over This Busy Chinese Restaurant in Palm Desert with Hard Liquor

$200,000
Take Over This Busy Chinese Restaurant in Palm Desert with Hard Liquor
This Listing is Expired
This very busy Chinese restaurant located in a wealthy Palm Desert suburb is the perfect business for a hands-off owner or Chinese owner interested in having his/her restaurant without the work of creating a new concept. The current sole proprietor has a type 47 liquor license which allows beer, wine, and cocktails (a license worth $75K-$85K right now in Riverside County�if you can get one at all). The average dinner check is high (between $15 and $35 per person) because of the liquor sales and the average income of the patrons. The fully decorated restaurant, with a nice waiting area for take-out customers, seats 65 inside. There is no outside seating. The well maintained strip mall in which the restaurant is located has 46 parking spaces. The very reasonable rent comes in at $3,577/mo. including NNN. Four and a half years are left on the transferable lease. The owner maintains that her rent is only 5%-6% of her gross sales. Serious buyers will be shown financial records. The owner, who wants to move her money to a less labor-intensive investment, keeps 6 full-time employees on staff with 8 more part-timers to fill in during the busiest hours. She acts as the general manager. The cost to buy the entire business, which includes all the equipment necessary to turn out the Chinese dishes on the menu, recipes, the vinyl booths up front, the ceramic fish fountain, artwork, tables, chairs, the trade name, the logo, and the liquor license is $290K. Without the liquor license, the price is $200K. The buyer is free to change the restaurant's concept, but why mess with success?
Take the next step and complete the online confidentiality agreement and you�ll be provided with the restaurant name and address. Also you will given priority notification to new listings in the future, prior to the general public, giving you the best chance to �scoop in� the best opportunities. There are also more photos available to our registered buyers.
This is a Stone Path Brokerage Services, Inc. DBA Selling Restaurants San Diego listing.
Broker of Record Rob Tade DRE License #01339409

Lease

Region:
San Bernardino Restaurants For Sale
Lease Term:
4.5 yr remaining + 0 option
Total Monthly Rent:
$2,746

Operations

Liquor License:
47
# of Full-Time Employees:
6
# of Part-Time Employees:
8
Hours Open:
Lunch: Mon to Sun: 11:30am - 2:30pm
Dinner: Sun to Thur: 5:00pm - 9:30pm
Fri to Sat: 5:00pm - 10:30pm
Year Established:
1992
Hood System Type 1:
Yes

Facilities

Indoor Seating:
65
# of Parking Spots:
46
Inside Sq. Ft.:
2,194

Highlights

  • Located in well maintained business center
  • Neighborhood is made up of multi-million-dollar homes
  • Very low transferable lease ($3,577/mo. including NNN)
  • Type 47 liquor license with strong liquor sales (would cost $75K - 85K to buy in Riverside County which limits availability of these licenses)
  • Restaurant established by current owner 15 years ago
  • Chef has been with restaurant for last 10 years
  • 2,194 sq. ft. which seats 65 including a small private room which seats 8
  • All kitchen equipment, furniture, and decorations can stay with property
  • Owner will reveal financial statements to serious buyers
  • Very easy to take over, no improvements needed
  • Buyer can be hands-off with the hiring of a general manager
  • Well established clientele and good reputation keeps restaurant very busy

Financing

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

Demographics

Population 3-mi. 5-mi
2014 Total Population 37,513 44,547
Households 3-mi. 5-mi
2010 Number Of Households 15,037 17,639
2010 Persons Per Household 2.09 2.05
Median House Value $297,500 $341,872
Income Per Household $49,446 $54,585
Businesses 3-mi. 5-mi
2009 Number Of Businesses 1,490 1,681
2012 Number Of Employees 37,174 45,548
2012 Total Annual Payroll $551,173,000 $691,888,000

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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.


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