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Listing #5256

Great Buy On Restaurant -Full Liquor

Price: $190,000
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Great Buy On Restaurant -Full Liquor

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Seller May Carry part of purchase price to credit worthy buyer! Price Reduction and Owner wants this sold!

Owner has clean books and is working at the restaurant 50% of the time. Sales for the business average $1-1.3 Million per year. Sunday Brunch has grossed $10K per Sunday and it can go higher.  Owner is not doing any events or catering, which is a huge upside for a new buyer. Owner is motivated so bring your offers!

Owner drops price and wants to move on to his other business interests. Great opportunity on this MONEY MAKER!.

Restaurants in the downtown area are sizzling hot right now and they continue to develop with the City funding several cultural and UC college events. Many of these restaurants are doing in excess of $5 Million per year and offered now is a sleeper that is under performing because the owner has too many other business commitments to see this through.

HIS LOSS IS YOUR OPPORTUNITY

Over 6,000 sq ft beautifully decorated restaurant with a huge following is on the market. Diners love the outdoor patio with the classic old world architecture and Sunday Brunch is a madhouse at this place. Currently operating as a Mexican Restaurant but bring your concept.

There is a 47 license and house made margaritas are a specialty. This restaurant is a popular lunch destination. After the day has ended it's time to relax and this restaurant specializes in just that.

Lease is very favorable at $14,000 per month and Landlord is very easy to work with. Options in the lease ensure a long tenure to capitalize on a thriving marketplace.

 

Owners P & L shows a net profit of $64,992 for the YTD period ending July 31, 2018.

Current owner is not doing any catering and only small banquet business. Great opportunity exists here.

If you haven't been to the Mission Inn lighting Festival in November you are going to be amazed at the number of people coming to the downtown area.  Last year over 750,000 visited this area during a one month celebration where the famed hotel turns on 5 million lights.

For restaurants in the area this is the very best news because many quit taking reservations because the lines are snaked around the block.

Do yourself a favor and look at this opportunity and you may realize you can really make some money in this thriving downtown area.


This is a Business Intermediaries, Inc. listing.
Broker Chuck Machado DRE License #01899280
   
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General Information
Listing Status: Available
Price: $190,000
Location: Riverside County
Last Year's Annual Gross: $110,000
Last Year's Owner's Cash Flow: $110,000
Lease Information: Ends 2024 w 1 option
Monthly Rent: $15,000
Liquor License: 47
Indoor Seating: 75
Outdoor Seating: 40
Number of Parking Spots: 25+
# of Part-Time Employees: 12
# of Full-Time Employees: 6
# of Working Owners: 1
Hours Open: Wednesday 11AM–9PM Thursday 11AM–9PM Friday 11AM–10PM Saturday 12–10PM Sunday 10AM–8PM Monday 4–9PM Tuesday 11AM–9PM
Year Established: 2014
Inside Sq. Ft.: 6600
Outside Sq. Ft.: 1200
Hood System Type 1: Yes
Highlights
  • An Opportunity of a Lifetime

  • Owner Loss is Your Gain

  • Under Preforming Restaurant For Sale

  • Downtown Restaurant in Thriving Area

  • Full Liquor License Mexican Restaurant

  • Owner Says Sell His Profitable Restaurant

  • This Restaurant Makes Money

  • Restaurant Near Mission Inn For Sale

  • Downtown Riverside For Sale

  • Great Lease Mexican Restaurant For Sale

  • Expand Your Banquet Business



DISCLAIMER: The User (that's you reading this) of this Website understands that Business Intermediaries, 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.



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