Hottest Pasadena Location on the Market! W/Beer and Wine

HOTTEST LOCATION IN DOWNTOWN PASADENA

This is one of those rare opportunities to buy one of the most sought-after Quick-Serve restaurant locations in downtown Pasadena California just minutes from the freeway and in the heart of Pasaden'a action district. A Pasadena location doesn't get any better than this! This restaurant is steps away from major parking and in front of heavy foot and car traffic. This is a multi-million dollar location!

This restaurant is 100% absentee operated with the owners living out of state. Despite operating this restaurant for nearly five years, they can't manage the business from afar, and they know it. The food costs are high at more than 36%, while labor costs are greater than 35%. As you know, the industry standard for a pizza and pasta restaurant should be running 25%/25% on each. That's 21% operating profit improvement awaiting your talents to turn this into the cash cow it should be. 

Working owner profit is in the $60,000 range for 2013 and if a good working owner can get the food and labor costs to industry standard, then the owner cash flow should be around $200,000 given the annual sales of about $744,000 in 2013, making this a steal at $250,000. 

This is a beautiful brick finished building with high ceailings and lots of character. The building has an upstairs apartment with a complete shower and a kitchen could be added if you'd like to convert it from office to apartment.  But it does need some facelift to be frank - carpet and paint.  Or you can run your corporate office out of this space as there are several rooms inside the apartment.  

There are 4 full-time employees and 16 part-time employees. The Sq. Ft. is about 1,400 downstairs and about 1,500 upstairs in the apartment area. There is a beer and wine license included. 

This is a highly confidential listing due to it being absentee operated; therefore, name and address will only be given to qualified buyers. 

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