2 Seafood Diners: Gross $3.44M, Netting $606K, SBA, at $2.2M

Garden Grove, CA (Orange County)

2 Seafood Diners: Gross $3.44M, Netting $606K, SBA, at $2.2M
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Asking Price: $2,200,000

Cash Flow: $606,000

Gross Revenue: $3,442,296

EBITDA: N/A

FF&E: N/A

Inventory: $50,000*

Rent: $17,200 /Month

Established: 2011

*not included in asking price.

2 Seafood Diners: Gross $3.44M, Netting $606K, SBA, at $2.2M

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Business Description

2 Seafood Diners: Gross $3.44M, Netting $606K, Low Rent, SBA OK, Prc $2.2M, OC

> Two (2) seafood specialty restaurants with total annual revenues of almost $3.5 million are on sale for $2.2 million.
> Popular restaurants as the origin of the best seafood recipes in the community, with crab, lobsters and oysters. Known home to one of the best seafood dishes.
> They are 3.2 miles away from each other and are still growing steadily. Located in the popular squares in the middle-class demographics of Garden Grove.
> This is a turnkey opportunity that will not last long in the marketplace. “Complete absentee run profits.”
> Here is a kicker that lets customers stick to the home-made Cajon dishes with unique recipes. Beer and Wine License (#41) and Liquor License (#47) included, respectively.
> Tight footprint and a favorable market lease w/2-3 years leftover and 2X5-year long-term option, respectively. Very reasonable rents are still below 5-6% of gross sales.
> Opening hours are relatively short, only 7 hours a day. Book and record reported are from square, so SBA loans are very possible.
> Monthly gross revenue is over $286,858 (#1- $133,798, #2- $153,060), of which credit card revenues are accounted for about 85%, according to the latest sales history of the both locations for 2019
> Monthly net income is an average of $50,000 or up
> Cost of goods sold equals on average of 35% or lower, respectively
> For a brief overview of each restaurant, see below:
••• Location #1
• Monthly gross revenue is an average of $133,798
• Monthly net income is an average of $28,500
• Beer and Wine license (#41) included
• All-in rent is $9,200, including NNN/CAM
• 2 yrs lease plus 2x5 yrs option
• Premise Sq. Ft. is approx. 5000
• Hours are from 3 pm to 10 pm, Mon-Fri and from 12 pm to 10 pm on Sat and Sun
• 5 full-time and 18 part-time employees. With wages of over $28,000 a month
• Established & operated for 8 years
• Ample parking in front and at the mall
• Priced at $1.1 million
••• Location #2
• Monthly gross revenue is an average of $153,060
• Monthly net income is an average of $25,000
• Liquor license (#47) included
• All-in rent is $8,000, including NNN/CAM
• 2.5 yrs lease plus 2x5 yrs option
• Premise Sq. Ft. is approx. 6000
• Hours are from 5 pm to 12 am, Sun-Wed, and from 5 pm to 2 am, Thu-Sat
• 5-6 full-time and 17 part-time employees. With wages of over $28,500 a month
• 25 bar seats and 235 dining capacity
• Established & operated for 3 years
• Street parking in front and a large public parking behind the restaurant
• Priced at $1.1 million, as well
• SBA loans are available with a down of $660,000 or 30% for two restaurants. A monthly payment of $18,300 over 10 years estimated at 7.5% annum
* Payments may vary depending on buyer's credit score and interest rate applied
• Sign and return an online pdf. NDA form attached for your quick inquiry
• For more details, contact Kevin Kim at beeinvest.kim@gmail.com or leave your message at (714) 345-6514
• Strongly recommend visiting our office to learn more about these two unique business acquisitions and/or further financial details

Detailed Information

Location:
Garden Grove, CA
Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
11,500
Lease Expiration:
12/31/2031
Employees:
48
Facilities:
Full kitchen. Absentee run profits. Tow seafood restaurants are on sale for a package of $2,2 million
Competition:
Yes.
Financing:
SBA Loans Available
Support & Training:
2 weeks training by on-site manage or employee and 4 hours by seller after closing
Reason for Selling:
Invest in another ventures and commercial
Contact Seller

Contact the Seller

(from currently available funds)
 
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Kevin Kim

Business Listed By:
Kevin Yong Kim

Bee Realty Group

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