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#5332
Redding and Shasta Area

Profitable Italian - W/Bar Type 47 w/Real Estate in Hip No. Cal. Town

$699,000
Available
Profitable Italian - W/Bar Type 47  w/Real Estate in Hip No. Cal. Town
This Listing is Expired

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ABOUT THE RESTAURANT: This restaurant and bar with a type 47 hard liquor license and serving quality authentic Italian food has been a local institution to both locals and tourists since 1945. It sits on a prime corner with high visibility and has a private parking lot. It is on the main street coming in and out of town with easy on-off access from I-5.

Local artists and musicians contribute to the eclectic "vibe" of the town which is a gateway to hunting and world class trout fishing as well as abundant recreational activities including water skiing, Alpine and cross country skiing, mountain climbing and biking and hiking around the nearby streams, waterfalls and lakes. 

DINING AREA: The main bar and dining area features red tufted booths accented by black bar stools and could best be described as casually elegant and . The space is very inviting and you feel comfortable the moment you walk through the door. There is a second dining room perfect for private parties and special occasions. 

KITCHEN: There is a large and spacious kitchen with a dry storage area, separate dish and prep areas as well as two hoods. The First Hood contains 8 burners with a double oven, a flat grill, char-broiler and deep fat fryer. The second hood and equipment make it possible to produce food for large parties and catering events while still producing for in-house guests. There is also a walk-in refrigerator, stand up refrigerators and freezers, a slicer, refrigerated prep tables, a stand-up mixer, In addition, there is a downstairs storage area easily accessed from a side street that is used for beer, wine, liquor and additional dry goods.

2017 sales were $623k with owners cash flow of $114k. This years sales are up $100k (16%) at $722k which could translate into an additional $30k or $40k in profit making the sales price of $249k for the business approximately a 1.5 multiplier. Very few opportunities with this multiplier come on the market. 

THREE PURCHASE OPTIONS:

$249k BUSINESS ONLY$249k and Lease at $3,500 per month (includes NNN’s) 5 years + 2 – 5 year options

$699k BUSINESS + REAL ESTATE - SBA LOAN: possible with 20% ($140k) down, a FICO score of 700 or better and at least 5 years restaurant management experience with assets to prove you're successful. Monthly Payment is $3,608 for 25 years at about 6% interest rate. SBA Loan has additional fees buyer should be prepared to pay. 

$699k BUSINESS + REAL ESTATE - OWNER CARRY: 35% (approx) ($249k) down, Fico of 750 or better and at least 5 years restaurant management experience with assets to prove you're successful

Great opportunity for an owner-operator.

 

This is a Paramount Restaurant Brokers, Inc. listing.
Restaurant Broker Chaz Gaddie DRE License #02057673

Lease

Region:
Redding and Shasta Area
Lease Term:
new 5 year + 2 - 5 year options
Total Monthly Rent:
$3,500
Security Deposit:
$6,000

Financials

Last Year's Annual Gross:
$622,951
Last Year's Owner's Cash Flow:
$114,000
Last Year's Food Cost %:
27.3
Last Year's Payroll Cost %:
24.3
Last Year's Rent %:
5.1

Operations

Liquor License:
47
# of Full-Time Employees:
3
# of Part-Time Employees:
6
# of Working Owners:
1
Hours Open:
Monday 5–9 PM
Tuesday & Wednesday Closed
Thursday 5–9 PM
Friday & Saturday 5–10 PM
Sunday 4–9 PM
Year Established:
1945
Hood System Type 1:
Yes

Facilities

Indoor Seating:
119
# of Parking Spots:
13
Inside Sq. Ft.:
3,040
Lot Dimension:
80x140
Lot Sq. Ft.:
11200
Total Building Sq. Ft.:

Highlights

  • Landmark in the community since 1945
  • Profitable with consistent numbers
  • Purchase business only or business with real estate
  • Qualifies for SBA financing or owner may carry with 35% down.
  • Closed two days per week and dinner only means no crazy hours
  • Access to world class hunting, fishing and recreational activities
  • Authentic Italian food
  • Huge versatile kitchen with 2 hoods
  • 2nd dining room can be sectioned off for private parties
  • Hip Northern CA mountain town
  • Corner location with private parking lot on main street
  • Easy on - off access from I-5

Financing

Will SBA Finance:
Yes
Est. Monthly SBA Loan Payment:
$3,608
Est. Annual Interest Rate:
6%
Will Seller Lend To Buyer:
Yes
Seller Carryback of Purchase Price:
65%
This Listing is Expired

Demographics

Population 5-mi
2014 Total Population 7,458
Households 5-mi
2010 Number Of Households 3,355
2010 Persons Per Household 2.12
Median House Value $308,900
Income Per Household $44,692
Businesses 5-mi
2009 Number Of Businesses 307
2012 Number Of Employees 4,784
2012 Total Annual Payroll $71,825,000

click for more demographic info

Disclaimer

DISCLAIMER: 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 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.

Other Listings in the Area
  • Well Established Liquor Store For Sale With Property In Shasta County
    #5337
    Well Established Liquor Store For Sale With Property In Shasta County
    Square Feet:  
    3,000
    Facebook Twitter Google+ Email
    Available
    $700,000
    Down Payment $250,000

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