Landmark Mexican Restaurant - #6 License - RE Available

Hereford, AZ (Cochise County)

Seller Financing Available
Landmark Mexican Restaurant - #6 License - RE Available
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Asking Price: $180,000

Cash Flow: $78,002

Gross Revenue: $677,890

EBITDA: N/A

FF&E: $90,000

Inventory: $30,000*

Real Estate: $850,000*

Established: 1978

*not included in asking price.

Landmark Mexican Restaurant - #6 License - RE Available

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Business Description

Ricardo’s is a landmark restaurant and lounge in the Hereford/Sierra Vista area and has been the go-to place for excellent Mexican food for many years. After the original building was destroyed in the Monument Fire of 2011 a brand-new restaurant was constructed and continues to serve the community today. $990,000 was spent to rebuild/reopen Ricardo’s Restaurant.
Ricardo’s Restaurant occupies a 6,000 square foot building that is colorful and inviting. Their menu is extensive, and the recipes have been honed over many years. Ricardo’s is known for their hand-cut Angus beef steaks that complement the scrumptious Mexican-themed dishes.
The kitchen is fully-equipped and can handle any size group or function. There is seating for 140 in the main dining area and the banquet room can accommodate 60. Many special functions, parties and holiday gatherings have been held here.
A full bar with a #6 liquor license rounds out this offering with seating for 30.
Up until recently, Ricardo’s has only been open for dinner from 4PM to 8PM Monday through Saturday. The earnings are for 24 open hours per week. Beginning in January 2019 Ricardo’s will be open for lunch from 11AM - 2PM Wednesday through Saturday.
There’s no reason an aggressive operator couldn’t expand the concept to 7 days per week and perhaps breakfast as well.
Ricardo’s has excellent visibility along Highway 92, is very accessible and has plenty of parking.
The owners are ready to retire but desire to see Ricardo’s continue to be part of the food scene in the area. If you have restaurant experience and a desire to own a piece of culinary history in Southeast Arizona, then don’t miss this opportunity. Please direct all inquiries through Allen & Young Business Brokerage.
Ricardo’s, the business opportunity, along with the furniture, equipment, menus, recipes and liquor license, is offered at $180,000.
The real estate should be sold concurrently with the business and is offered at $850,000.
For more information contact John Oberg, Broker, at (520) 327-4454.

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Owned
Not included in asking price
Building SF:
6,000
Employees:
10
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
6,000 square foot freestanding building, very comfortable dining and bar areas and well-appointed kitchen.
Competition:
Not a lot of direct competition in the Hereford area. There is more in Sierra Vista but patrons still make the 10 minute drive to Ricardo's.
Growth & Expansion:
An aggressive operator could be open 7 days per week and include a breakfast operation as well.
Financing:
Seller will consider some financing for a qualified buyer.
Support & Training:
Seller will provide familiarization with all systems and will assist in a smooth transition.
Reason for Selling:
Retirement
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(from currently available funds)
 
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John Oberg

Business Listed By:
John Oberg

Allen & Young Business Brokerage

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Memberships & Certifications:
Indicates membership in The Arizona Business Brokers Association (AZBBA).

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