Retail - Restaurants | Retail - Other Eating & Drinking Places

Asking Price	$40,000	Inventory
Gross Income	$150,000	Real Estate
Cash Flow	Not Disclosed	Year Established	1993
FF&E	$40,000*	Employees	6 ft, 2 pt

* included in the asking price

** not included in the asking price

Currently a Chinese restaurant, this 2,840 square foot site is located on a high-traffic, 5 lane road in central Garden City. The two 7.5 foot hood systems enable the buyer to turn this site into any type of restaurant of the buyer's choice. Hewlett Packard is close-by and is the source of significant lunch traffic. The restaurant has booth & table seating for 88 and has a permitted occupancy of 144. Lease is $6.65/square foot and runs through 9/30/08. Landlord would like to renew the lease. Hours are 11am to 9pm, closed Mondays. The kitchen is fully equipped with two 7.5-foot hood systems, an ANSUL fire system, walk-in refrigerator and walk-in cooler, smoker, 5 hole Chinese range system, and all the equipment necessary to be fully functional on day one. A buyer would need double the investment to build out a new restaurant than is needed to purchase this fully equipped restaurant!

Facilities: 2,870 square feet retail space leased at $6.65/square foot NNN through 9/30/2008. Landlord will negotiate new lease with new owner.

Competition: This restaurant is in a shopping strip mall, with a Mexican restaurant as a neighboring tenant and fast food available in an out parcel. The shopping center owner intends on replacing the second Chinese restaurant in the strip mall with a franchised restaurant. The shopping center location is off a 4-lane undivided highway with high visibility (average of 37,568 automobiles daily). The price of a new hood system ($2000+ per foot) together with the price of a grease trap and municipal county impact fees ($35,000) make this a very affordable purchase.

Growth/Expansion: The sky is the limit, with permitted seating at 144, ample free parking, easy access, great visibility, and the ability to serve three meals a day, seven days a week.

Support/Training: Owner/Manager will provide 40 hours of cross-training at no additional cost to the new owner. Owners will introduce buyer to repeat customers and neighboring business owners.

Reason Selling: Owner retirement.