Steakburger House at La Verne

La Verne, CA (Los Angeles County)

Steakburger House at La Verne
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Asking Price: $2,250,000

Cash Flow: $700,000

Gross Revenue: $3,300,000

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Rent: $14,700 /Month

Established: N/A

Steakburger House at La Verne

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Business Description

DESCRIPTION:
A full-blown local steakhouse with type 47 liquor license situated in an upscale neighborhood. Casual environment serving upscale prime/choice steaks fish and other meats. It also serves casual plates such as burgers and fries. An environment set for a power business meeting, a celebration or just a casual night out. Plenty of student and faculty clients nearby as there are 5 major private colleges in its near vicinity. A perfect place for large party gatherings and events.

DEMOGRAPHICS:
Per the City-Data website, this city has:
The estimated median income of approximately $99k in 2016
The population of over 36k in 2014.
The median price of a detached home: $672k with median rents at $1472 in 2016

EQUIPMENT:
Back of house: 28’ Type-1 hood, grills, fryers, grease trap, prep tables, walk-in freezer/cooler. Front of house: POS system, chair and tables, and bar.

FACILITIES & OPERATIONS:
4,800 sf in a residential area with five major private colleges nearby. Has a type 47 liquor license. Parking for 35 cars. Dining space and bar area serving cocktails, wine, beer, and hard liquor. Full-service steakhouse with a butcher set up to buy meats to-go. 7 years left on the lease, with 2-5 year options. Clean books.

CURRENT MANAGEMENT & LABOR:
Absentee ownership with a general manager making about 80k per year. With the manager, labor runs about 32%. Clean books.

MARKETING OPPORTUNITIES:
All marketing is done by word of mouth. No outside marketing other than the many clients that boost its online presence.

FINANCIAL SUMMARY:
Sales: 280k(3.3 million year),
rent: 12.8k (5%),
labor: 90k (32%),
cog: 90k (32%),
misc: 28k (10%).
21% cashflow!.
Over 700k yearly net.

Please note: Due to the potential damage to the business, the owner requires the agent to pre-screen potential Buyers prior to releasing identifying information and will release information only to Buyers who are both financially qualified and have sufficient prior experience. Proof of funds required.

Listing #18186HP
visit us at www.PacificRestaurantBrokers.com and fill out our Confidentiality Form

Detailed Information

Location:
La Verne, CA
Real Estate:
Leased
Building SF:
4,800
Lease Expiration:
N/A
Business Website:
http://www.PacificRestaurantBrokers.com
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Pacific Restaurant Brokers

Business Listed By:
Jerry Diza

Pacific Restaurant Brokers

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