Currently a Mexican Restaurant but the Seller, who is also the landlord will welcome other concepts if the suitable buyer can demonstrate their restaurant experience, future success with strong financials. The owner is willing to negotiate terms of a new lease. 3,000 square feet of 'Free Standing' building with ample parking for 60 vehicles surrounding the building and the restaurant seating for 80 with an ABC type 41 beer and wine license included. Chico is a University city and this restaurant has been popular with the locals and students for 12 years. Full support provided with all the employees In place. Many recent upgrades include new HVAC system, kitchen grease trap, landscaping, booth seating and many kitchen upgrades. Total recent renovations exceed $100,000. The kitchen is fully equipped and well able to cope with the demands most restaurant concepts, while the dining room with its combination of tables, chairs and booths creates a pleasant atmosphere. The owner is 78 and now wishes to retire from the day-to-day business operations but will remain as the Landlord. The landlord would prefer an owner operator to establish a strong business for themselves and he is willing to entertain any successful concept. The restaurant is in a 'Turn Key' condition together with many long serving employees making this the pride of the city. There will be a new lease available to interested parties with the initial monthly rent of around $5,500 fixed for 2 years with only 3% annual increases thereafter. Owner operators are preferred but the owner/landlord will review all buyers to purchase and run this business opportunity. Please complete the 'Non Disclosure Agreement' on our site and we will send you the name and address with the full financial information, lease & the list of equipment included with the purchase. We'll also send you the Broker's contact information so you can discuss this opportunity in more detail.

General Info

  • OrganizationContact For Info
  • Established1974
  • Current Owner2006
  • Employees15
  • Reason For SaleOther Interests

Facilities

  • Seating80
  • Square Feet3068
  • Parking60
  • LicensesContact For Info
  • Open Hours11.00am - 9.00pm Daily

Lease

  • Rent$5,500 + NNN
  • ExpirationNew Lease Terms Negotiable
  • Yearly Increase3%
  • OptionNew Lease Terms Negotiable
  • Deposit$5,500

Financials

  • Monthly Revenue$50,000
  • Monthly Cash Flow$5,000
  • Annual Revenue$600,000
  • Annual Cash Flow$60,000
  • Payroll$$17,000

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.

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