Profitable Neighborhood Restaurant Grill & Bar East side

Juanita, WA (King County)

Seller Financing Available
Profitable Neighborhood Restaurant Grill & Bar East side
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Asking Price: $995,000

Cash Flow: $200,000

Gross Revenue: $1,651,237

EBITDA: N/A

FF&E: $30,000

Inventory: $20,000*

Rent: $9,600 /Month

Established: 1999

*not included in asking price.

Profitable Neighborhood Restaurant Grill & Bar East side

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Business Description

Million-dollar family-friendly restaurant grill and bar for sale right here on the eastside. Sales have gone up every year for the past 20 years (never had a down year). Seller is even willing to throw in some award-winning recipes into the deal to help make sure the buyer is off to a good start.

Self-standing building with all free parking, more than 100 spaces. Fully equipped with a type 1 hood system, 56” inch grill, 2 walk-in coolers. Seats 81 but even has some 24-patio seating for when the mood and weather permits. Almost 3,000 square feet, 6 HD flat-screen TVs and a POS system with an $8,000 upgrade in 2018. Seller is in the process of adding over $50,000 in remodeling so you will be looking good for years to come.

Currently serves breakfast, lunch, and dinner and as you would expect for being here for more than 20 years has quite a loyal customer base built up for the new owner. Even with the current owner spending limited hours here working he still nets well over $200,000 annually. If you the new owner wanted or could be more of a daily fixture here the already great profits would go up even more.

This restaurant and grill offer a bar and pull tabs but make no mistake this is a family-friendly place. Many of the regulars come here for good food and the family-friendly atmosphere. Another way to increase the sales is this restaurant currently opens at 9 AM so many breakfast sales are going missed out on. Very little if any breakfast competition close by. Other areas of picking up more profits are, there is no delivery service being done and no catering being done or even offered. So new owners could tap into either or both of these cash revenues as well.

On average 280 paying customers come through the front doors daily. Seller wants to retire but another benefit to you is the seller has extensive restaurant and bar consulting experience and he is willing to offer and help buyers all the way through the transition period, perhaps even longer. Seller is even willing to carry 50% of the purchase price on seller financing for the right buyer. This restaurant grill and bar is a profitable winner and figures to be a winner for many years to come.

Detailed Information

Location:
Juanita, WA
Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
2,990
Lease Expiration:
4/30/2023
Employees:
23
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The monthly lease is $9,600 Triple Net included. Seller pays is own water and garbage. The lease is assignable and renewable. The current lease expires in 2023 but the landlord is willing to give an extended lease to a new owner of the business. Square footage is 2,990 with a seating capacity of 81 inside and 24 additional seating on the patio. Fully equipped kitchen with 2 walk-in coolers, 56” grill, and a type 1 hood system. A fully equipped bar with 30 money-making Pull Tabs (generates about $100K annually). Big all free 100 plus parking lot.
Competition:
This is the only neighborhood restaurant grill and bar in the neighborhood. 20 years, profitable and strong. No competition close by.
Growth & Expansion:
The simplest way for new owners to increase the profits is just a part of the daily operations as the current owner works only limited hours. Another way to increase the sales is this restaurant currently opens at 9 AM so many breakfast sales are going missed out on. There is a breakfast crowd in this area and very little if any breakfast competition close by. Other areas of picking up more profits are, there is no delivery service being done and no catering being offered or done. So new owners could tap into either or both of these cash revenues as well. A profitable foundation is already set up for you.
Financing:
50% down case by case basis
Support & Training:
Seller wants to retire but another benefit to you is the seller has extensive restaurant and bar consulting experience and he is willing to offer and help buyers all the way through the transition period, perhaps even longer. Seller wants you to be successful with what he has built.
Reason for Selling:
Owner wants to retire
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(from currently available funds)
 
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David Smith

Business Listed By:
David Smith

Coldwell Banker Bain

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