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#6102
Ventura Restaurants For Sale

Profitable Restaurant w/Patio, Beer and Wine - SBA Loan

$340,000
Sold
Profitable Restaurant w/Patio, Beer and Wine - SBA Loan
This Listing is Sold

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.

This is a a Paramount Restaurant Brokers, Inc. listing.
Restaurant Broker Stuart Schlosser DRE License #01809021

Lease

Region:
Ventura Restaurants For Sale
Lease Term:
March 31, 2025 + 10 year option
Total Monthly Rent:
$6,018
Security Deposit:
$6,514

Financials

Last Year's Annual Gross:
$663,450
Last Year's Owner's Cash Flow:
$114,318
Last Year's Food Cost %:
36.3
Last Year's Payroll Cost %:
34.5
Last Year's Rent %:
10.8

Operations

Liquor License:
41
# of Full-Time Employees:
2
# of Part-Time Employees:
6
# of Family Employees:
1
# of Working Owners:
2
Hours Open:
Tues - Fri9:00 AM - 8:00 PM
Sat 8:30 AM - 8:00 PM
Sun 8:30 AM - 7:00 PM
Closed Mondays
Year Established:
1981
Hood System Type 1:
Yes
Hood System Type 2:
Yes

Facilities

Indoor Seating:
41
Outdoor Seating:
24
# of Parking Spots:
lots shopping center
Inside Sq. Ft.:
1,680
Outside Sq. Ft.:
200++

Highlights

  • Located in Newbury Park BioTech Area
  • 40 In Operation
  • YELP STARS 4.5
  • PATIO
  • Beer and Wine
  • Trained Kitchen Staff
  • Lots of Parking
  • Sales Increasing year over year
  • Long Lease
  • SBA Approved for Qualified Buyer

Financing

Will SBA Finance:
Yes
Est. Monthly SBA Loan Payment:
$3,030
Est. Annual Interest Rate:
6.5%
Will Seller Lend To Buyer:
No
This Listing is Sold

Demographics

Population 3-mi. 5-mi
2014 Total Population 45,315 80,308
Households 3-mi. 5-mi
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
Businesses 3-mi. 5-mi
2009 Number Of Businesses 1,167 2,091
2012 Number Of Employees 0 29,790
2012 Total Annual Payroll $0 $896,297,000

click for more demographic info

Disclaimer

Notice: The User (that's you reading this) of this Website understands that Paramount Restaurant Brokers, 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 some cases, foreward 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.

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    Square Feet:  
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