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Full Service 3 Location Mexican Restaurant

Destin, FL (Okaloosa County)

Seller Financing Available
Full Service 3 Location Mexican Restaurant
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Asking Price: $2,375,000

Cash Flow: $660,000

Gross Revenue: $6,600,000

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Rent: $24,997.93 /Month

Established: 2000

Full Service 3 Location Mexican Restaurant

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Business Description

This popular 3 location regional chain has three excellent locations with managers and an overall general manager in place. The rent percentage of gross sales is about 5% with good long term leases and renewal options. The business has approximately 80 employees. Sales for 2018 are in the 6.6 million range.The owner benefit based on the 2018 tax returns is over $660,000 and that is leaving the general manager in place and taking over the owner's position. The locations are within a 20 mile radius for ease of oversite. This business can be SBA financed with as little as 10% down for a qualified purchaser.

Detailed Information

Location:
Destin, FL
Real Estate:
Leased
Building SF:
15,640
Lease Expiration:
N/A
Employees:
80 to 130
Facilities:
3 excellent locations in prime areas with ample parking.
Competition:
There is plenty of competition I this area as it is very vibrant and lots of tourists come here for the gorgeous beaches, golf, entertainment etc. This business has excelled and thrived in this envioronment because of excellent product, service and locations.
Growth & Expansion:
Definite growth and expansion opportunity all along the Gulf Coast.
Financing:
237500
Support & Training:
The owner will provide transition training and consulting as part of the deal. Also the general manager who is very com patent is willing to stay on.
Reason for Selling:
Retiring
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Mike Goleno

Business Listed By:
Mike Goleno

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