Italian Restaurant, Large Outside Patio, B&W

Long Beach, CA (Los Angeles County)

Italian Restaurant, Large Outside Patio, B&W
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Asking Price: $299,000

Cash Flow: $72,000

Gross Revenue: $709,000

EBITDA: $72,000

FF&E: $75,000

Inventory: $10,000*

Rent: $8,500 /Month

Established: 1979

*not included in asking price.

Italian Restaurant, Large Outside Patio, B&W

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Business Description

Nicely decorated Italian Restaurant with Beer and Wine License. Business seats 40 inside and 60 in nicely decorated outside patio Business did $709K in sales in 2018 which is down from over $1 Million in prior years due to health problems encountered by Seller. The business does no advertisement and very little catering and delivery at this time---an area that can be easily increased. Seller is ready to retire and regain health after 40 years in the business. Seller owns the property and will give long term lease to Buyer. Rent includes NNN.

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
3,000
Lease Expiration:
4/30/2024
Employees:
16
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Business is located in 3000 sq ft restaurant with great nicely decorated outside Patio area. Business seats 40 inside and 60 on patio.
Competition:
Business is well established with large base of repeat customers. Business does no Advertisement, and little catering and delivery at this time.
Growth & Expansion:
Can expand sales with advertisement and increase the Delivery and Catering portion of business which was neglected due to Seller's Health Condition.
Support & Training:
Seller will Train
Reason for Selling:
Retirement after 40 years in Family
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(from currently available funds)
 
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Henry Miller

Business Listed By:
Henry Miller

BIR Business Brokers

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