THE RESTAURANT: American full service restaurant serving breakfast, lunch and dinner. Operating under same name and core menu for nearly 40 years. It is a local favorite because of service, quality and prices that brings guests back again and again. The restaurant features an Outside Patio as well as a Beer and Wine license. Owner has added some traditional Italian favorites that has added another taste to the menu.This restaurant has revived itself over the past few years with sales increasing each year from $323,000 in 2016 to $555,000 in 2018 AND 2019 $577,447 and with beginning of 2020 still higher (until Covid 19 shutdown) NOW WITH 2021 Sales in, sales have come back and surpassing 2019 sales to $663,450 even with the major Covid restrictions still in place during the first 3 months of the year. That's a great sign that the business is gaining momentum and the best time to buy is when sales are going up and are continuing to rise over last year.
THE NUMBERS: This business has verifiable tax returns and has recently passed a CDTFA audit with flying colors (and getting a refund). 2021 Revenues were $663,450 with an adjusted owner working cash flow of $114,000+, making this a great buy at the $340,000 price. Buyer should perform their own financial verification and due diligence.
SBA LOAN: Since this business has good tax returns, we're able to obtain an SBA loan for a qualified Buyer with 20% down. Your payment would be approx $3,030 a month for 10 years, leaving an annual after debt service cash flow of about $49,660 at 2021 sales. 2022 sales have been outpacing 2021 by considerable amounts so far this year which will increase profits further.
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 $6,018.30 for 1,680 Sq. Ft. plus the outside patio areas. Patio area has been expanded during Covid and how long the County will continue to allow businesses to keep these added seating is not known.
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 plus the extra seating allowed during Covid of 20 more, making it an efficient use of leased space. The demographics are strong as well with a 3 mile population of 45,000, Amgen and many other companies are just across the road, and average household income of nearly $105,000.
|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|
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