6-Day Fish Market: Hi-Income $180K, Sales $360K, Redcd to $250K,

Lakewood, CA (Los Angeles County)

6-Day Fish Market: Hi-Income $180K, Sales $360K, Redcd to $250K,
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Asking Price: $250,000

Cash Flow: $180,000

Gross Revenue: $360,000

EBITDA: N/A

FF&E: N/A

Inventory: $4,000*

Rent: $1,450 /Month

Established: 2012

*not included in asking price.

6-Day Fish Market: Hi-Income $180K, Sales $360K, Redcd to $250K,

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Business Description

The real high return Fish Market located at the threshold of a mid-size active strip mall in a dense residential area and surrounded by many African American neighbors. EBT accepted. They are only open 6 days. Short open hours. Rent is far below the market price. A very compact restaurant w/no indoor dining room. So over 80% of sales depend on take-out orders. Below is a quick summary of operations and finances:
• Monthly gross turnover is $30,000 on average
• Possible net income is $15,000/m
• Cost of goods sold averages 35%
• Monthly rent is $1,450, including NNN
• Restaurant size is approx. 760 sq. ft
• 3 years remaining on the current lease. We try to secure additional 5-year lease options in buyer's favor.
• 6-day open. Hours Mon-Sat from 11:30 am to 8 pm, and Sunday closed
• 1 part-time, and 2 full-time owners work alternatively
• Operated by the current owner for 4 years
• Ample parking space at the mall
• Small version SBA loan possible w/a 50% down for 4-year amortization at 7.5% annum

Detailed Information

Location:
Lakewood, CA
Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
760
Lease Expiration:
12/31/2022
Employees:
1
Facilities:
Lower rent, Compact size, Lower utilities, EBT accepted, Highest net income of $15,000 a month
Competition:
No
Financing:
None
Support & Training:
2 weeks after closing an escrow
Reason for Selling:
Retirement
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(from currently available funds)
 
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Kevin Kim

Business Listed By:
Kevin Yong Kim

Bee Realty Group

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