Asking Price:

$375,000

Gross Income:

$532,000

Cash Flow:

$201,000

EBITDA:

N/A

FF&E:

$100,000.00 *

Inventory:

$2,000.00 **

Real Estate:

N/A

Year Established:

1950

Employees:

6

Business Types:

Restaurants
Other Eating & Drinking Places

** not included in the asking price

* included in the asking price

Business Description

This 3,300 square foot restaurant has a deli, bar and lounge which has an ABC license. It is located in a large apartment complex having an estimated 4 to 5 thousands residents. The kitchen is suited to handle large parties, with up to 200 persons, and catering jobs. The lease is full service where the building takes care of all maintenance. It expires in April of 2010 and has a 10 year option. Interested parties must have excellent food service experience and be prepaired to submit their food concept along with a childrens menu. They also must have a strong financial statement and good credit.

Detailed Information

Facilities:

3,300 sf includes 4 employee parking spaces. The full service lease expires in April 2010 and has (1) 10 year option. Has a great kitchen that is ideal for catering and large parties for up to 200. Also, it has a bar and deli..

Competition:

This is the only restaurant in a very large apartment complex containing 1226 units with an estimated 4-5 thousands residents.

Growth/Expansion:

Can add a food service kiosk for the pool users during the season and have the bar service on Mondays by applying to the ABC Board.

Financing:

Seller will provide some financing

Support/Training:

Seller will provide buyer with a training transition period long enough for the licneses to transfer to the buyer.

Reason Selling:

Pursue other interests.