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Wow! Steal This Profitable Mediterranean W/Super Low Rent!

San Diego County, CA

Wow!  Steal This Profitable Mediterranean W/Super Low Rent!
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Asking Price: $159,999

Cash Flow: $97,928

Gross Revenue: $357,441

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Established: 2018

Wow! Steal This Profitable Mediterranean W/Super Low Rent!

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Business Description

Recently opened Mediterranean food restaurant with beer and wine license located on a busy street with huge vehicle traffic. 2018 Tax return shows 84k in business income/ K-1 Income.

Rent is at 6% of gross sales.

Located in an area underserved by restaurants in general and even more underserved by this growing food type.

They have a five-star Yelp review with hundreds of reviews, customers LOVE this place.

Visit SellingRestaurants.com and look for listing 5524 to go visit this restaurant.

All new build-out for this small footprint restaurant location means super easy operations and very low cost of occupancy.

Build on the business they've already established instead of trying to start from scratch. Seller put in all new equipment and built this place out very nicely.

Health issues are forcing owners to sell their “baby.” They love the restaurant and the atmosphere but selling is now an option they reluctantly have to consider.

Opened in February of 2018 sales momentum has been building from day one.

2018 tax return for only 11 months shows annual sales of $ 357,441.

2019 sales have averaged $33,755/month.

Six month income statement for 2019 shows net income of $70,216 or annualized expected income of 140k!

2018 tax return shows net income of $84,440 without add backs.

Kitchen is ready for nearly any concept. If Mediterranean is not the concept you’d like, bring yours here.

They are doing great but if you have another idea - Mexican, Thai, deli, bakery or you name it, this could be the place you have been looking for.

Restaurant is approximately 1,000 square feet with rent of only $1,580/month plus CAM of $370/month.

CAM includes trash and water.

Current lease expires Jan 2022 with a three or five year option available.

Come by today to see if this is the one you have been waiting on to become available.

Detailed Information

Location:
San Diego County, CA
Employees:
7
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Rob Tade

Business Listed By:
Rob Tade

SellingRestaurants.com.

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Sponsoring Broker:
Mel Jones

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