PRICE REDUCED: Mexican Grill & Cantina-47 Licensed!

Riverside County, CA

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Asking Price: $110,000

Cash Flow: $78,302

Gross Revenue: $888,212

EBITDA: $78,302

FF&E: $45,000

Inventory: $10,000*

Rent: $14,000 /Month

Established: 2016

*not included in asking price.

PRICE REDUCED: Mexican Grill & Cantina-47 Licensed!

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Business Description

Located in Riverside county, this restaurant occupies a historical destination and is highly visible from the freeway. The restaurant also enjoys easy in and out access to its immense parking lot. Both landlord and tenant have done a fantastic job maintaining the authenticity of the facility.

The restaurant offers a 47 licensed bar and a 40 seat covered patio dining. The centrally located kitchen offers a 10ft hood, grease trap and city approved Ansul system. There are also (2) large banquet rooms, an office space and complete full bath living quarters above the restaurant. This space also offers (2) large walk in refrigerators, a lock & key liquor room and generous basement storage. The equipment is well maintained and in good working condition.

The current owner bit off more than he can chew. He struggles to focus on this business, as he owns two other restaurants far away from this location; he is 100% absentee and the business completely suffers. There is plenty of room to grow here: invest in marketing and advertising; revamp the website, leverage social media and build your client base. In addition, the owner vastly underutilizes the space. Leverage the living quarters to minimize payroll and offer lodging for your chef! Use the banquet rooms for the obvious: book reunions, Quinceaneras, corporate events, birthdays and holiday parties. Get your Conditional Use Permit from the city for live music or a dj and increase your revenues. Alternatively, if you already have a concept, this is a signature spot for your next location.

This cluster of surrounding restaurants make up the majority of revenue for restaurants in the entire city; most of them gross over $4 million per year. If you're in the restaurant business, don't wait, as this opportunity will not last at this price. SELLER IS VERY MOTIVATED AND WILL CONSIDER ALL OFFERS.

Detailed Information

Location:
Riverside County, CA
Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
6,600
Lease Expiration:
7/1/2024
Employees:
20
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Historical Building Clover POS (3) terminal system and (2) table side tablets 47 licensed patio & (2) private banquet rooms Centralized kitchen equipped with (2) walk-in coolers In-ground grease trap, and 10' hood Living quarters on 2nd floor with full bath, laundry, kitchen and patio Immense 1500 sq ft basement could be used for storage or brewery
Support & Training:
Owner will train
Reason for Selling:
Neglect, 100% focused on other businesses
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Robert Marshall

Business Listed By:
Robert Marshall

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Sponsoring Broker:
Sean Edelstein

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