Casa Grande, AZ (Pinal County)

Seller Financing Available
Nice open lay-out
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Asking Price: $9,750

Cash Flow: N/A

Gross Revenue: N/A

EBITDA: N/A

FF&E: $20,000

Inventory: N/A

Established: 2017

Sandwich Shop

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Business Description

Pending Sale - please send email for back up notification or call 8/1

Pending Sale - please send email for back up notification or call 8/1

We offer a very unique situation that might be a good opportunity for the right person(s) wanting to own a sandwich shop/restaurant. Allow me to share a little bit here, then invite you to call with any questions.

We own a small strip center with 10 commercial business spaces and the center has proven one of the most successful in the city. The center is located just off the busiest intersection in the city (according to city’s traffic engineer), across from a popular Safeway, and nearly in the middle of the residential. Interestingly, this area is under-served since much of the commercial is along Florence Blvd, which is further south and not central to the population. Casa Grande has been in the news over the past 4 years with some big projects planned or underway, including Lucid Motors, Dreamport Villages theme park, Phoenix Mart, and Attesa Motor Sports, promising to bring in thousands of jobs. We encourage you to look at the Casa Grande Economic Development website for more detail.

One of our tenants does not want to continue on with her sandwich shop due to her inability to make it profitable. She's a wonderful person and we have worked out a cancellation agreement that will give us (the landlords) ownership of all the restaurant assets (some of which we already owned). So as landlords, we are selling certain assets of the business, making it easy for someone to continue on with the same name, if desired. A list of the assets will be soon included as an attachment. We expect a fair amount of interest and intend to select the best candidate by June 30, but reserve the right to select someone earlier.

Together with the original tenant of this space, we invested another approximately $25,000 into making the space suitable for a sandwich shop. I have attached the original plans, and a sketch showing certain changes to it (the plans are not as-built but should be close) There is NOT a hood, but it is possible that you could add one. We have two ADA bathrooms.

The shop is currently staying open until we select a suitable buyer because of our arrangement with the current owner. She has been here for about 18 months and operating under the name Grande Central Sandwich Co. The name is a play on the city name, as many locals pronounce their town with as “grand” and not “gronday”. We think that her name and logo have been good things, and they will be included in the sale, which could save around $4,000 or so in sign change-outs. However, if you have a different model you can of course change the name. The current owner has earned favorable reviews on social media. Since we are NOT selling the business, but rather the assets of the business, we have not asked for or received financials, except that we have posted her gross sales figures as she has presented to us.

(Please do not talk with the current owner of the sandwich shop or their employees or customers, but only reach out to us since we are the sellers of the equipment and landlords). By appointment only, we can arrange for your visit there.

As you might know, starting a sandwich shop might cost tens of thousands of dollars. Here, you can start almost immediately with an on-going business, no architects, no city approvals, with an amount far less than what has been invested, and we will even finance much of that. In addition to your down payment, you will need first months rent and a security deposit for lease space. Rent is $2,082 per month, plus tax (currently 2.3%), with 3% annual increase. There are no CAM charges, and landlord is responsible for air conditioning, major plumbing and electrical, exterior, roof, parking lot, etc. Tenant is responsible for tenant-improvements (plumbing to kitchen sinks, etc).

In short, between previous owners and our firm, we have considerably more money invested, but will absorb that loss to attract a good operator who can create a succes

Attached Documents


Detailed Information

Location:
Casa Grande, AZ
Inventory:
Included in asking price
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The building is modern, well maintained, with ample parking. Other tenants include a successful martial arts store, a bakery, a dry-cleaners, insurance and financial, Christian book and gifts, print shop, and nail salon. The attached plans are not as-built, and, in 2017 there were certain changes made after it was built (for example coffee bar was removed to make way for more seating).
Competition:
Unique under-served location central to residential. Look at satellite map of Casa Grande and you will notice most of the commercial is on Florence, south of the residential. Many people do not like driving that distance. This intersection is the busiest in the city according to the traffic engineer.
Growth & Expansion:
We do not know the restaraunt business. We believe that this will primarily be limited to limited seating (about 25) for lunch dinner, but possible opportunities with ice-cream/yogurt being between two high schools (little competition), and possibly take-out dinner. We'll likely prohibit breakfast or baked goods since we have a bakery in center, but new ambitious bakery owner with extensive catering/wholesale experience is wishing to collaborate with new sandwich shop owner.
Financing:
$2,500 down and balance paid over 3 years at 3% interest, $209 per month.
Support & Training:
The current shop owner will stay on for one week after closing to train
Reason for Selling:
We are the landlords looking for ambitious operator to bring traffic to center.
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Business Listed By:
Douglas Fowler

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