This profitable business has easy access, excellent visibility, and is located on a major high street with all day pedestrian and motorist traffic. The popular Mediterranean menu draws a devoted clientele to the restaurant and extensive off site-catering. The owner works hands approximately 45 hours per week with a $171K annual cash flow from $84,000 salary, plus an additional $87K from the net business profit. In addition to front outdoor seating for 12-16 guests, the interior restaurant dining area seats about 70 guests, and looks onto a large, well equipped, open exhibition kitchen. There‰'s a corner bar area with POS terminal, keg fridge and 4-taps, bar sink and wine chiller fridge. The impressive line kitchen includes a 16‰' type 1 hood, char grill, 2-rotisseries, double fryer, 4-burner saute station with oven, a flat top griddle, 4-pan steam table, plus under-counter and salad top prep refrigeration units. An adjacent prep kitchen includes a large convection oven, walk-in cooler, 3-door reach-in cooler, 3-compartment sink, ice machine and prep and hand sinks. The premises has a private office equipped with a 4-camera security system, 2-restrooms and separate store room. Gross monthly rent is $4,650 for the current 5 year lease term which runs through Nov. 1, 2020 with 3% annual rent increases, and the annual rent increases continue at 3% for the 5 year option ending Oct. 31, 2026.

General Info

  • OrganizationContact For Info
  • Established2011
  • Current Owner2011
  • EmployeesContact For Info
  • Reason For SaleOther Interests

Facilities

  • Seating70
  • Square Feet1,950
  • ParkingStreet, parking lot
  • LicensesBusiness, ABC Type 41 Liquor License
  • Open HoursDaily 11a-9:30p

Lease

  • Rent$4,650
  • Expiration10/31/2021
  • Yearly IncreaseContact For Info
  • Option5 years
  • Deposit$8000

Financials

  • Monthly Revenue$108,000
  • Monthly Cash Flow$8,500
  • Annual Revenue$1,300,000
  • Annual Cash Flow$102,000
  • PayrollContact For Info

Financing

  • Down Payment$Contact For Info
  • Note Balance$Contact For Info
  • Terms of NoteContact For Info
  • All CashContact For Info

DISCLAIMER: The above financial information was supplied by the seller and has not been verified by broker. Broker makes no representation about the accuracy or completeness of the information and does not guarantee future performance. It is the responsibility of a prospective buyer to make their own inspection of all financial and other business records, and to seek independent financial and legal counsel regarding any purchase of this business and/or real estate.

Location