PRICE REDUCED. Submit all offers. The restaurant enjoys a prominent location on busy 5th Avenue with University Avenue nearby. Two prominent movie theater size marquis signs are available to prominently display the name of your establishment. Bring your ideas, culinary skills, and take advantage of the hip, young, trendsetting Hillcrest demographic! This beautifully remodeled contemporary restaurant was formerly a wings franchise of a multi-store Mexican franchise opening in December of 2017 and closing in March 2018 with first year sales projected to be close to $400,000!. The owners were unhappy with the franchise and choose to devote their full time attention to their non-restaurant careers. The franchise is not included in the sale. The neighboring tenant sells Mexican food but all other food types are welcome! The establishment has an active ABC 41 license (with restrictions). A partial list of the furniture, fixtures, and equipment included in the sale follows;; (20) 3'x3' white tables; (64) red steel chairs; (4) table cushion seats; (5) Samsung 64" TV's; Seamless HDMI Matrix; (2) Samsung 42" Tv's; (2) receipt printers SNBC BTP-RIWII; (2) Esperatech POS system; Esperatech receipt printer; JVC 64" TV; Harman Kardon Surround Sound System; (2) full size bathrooms; Scotsman icemaker; A.O. Smith broiler BT80300; 32" Samsung TV; (2) JVC Tv's; Everest Refrigerator EBD4; 2 compartment sink; True Refrigerator TVC-27; Dandky Designer microwave; True Refrigerator TSV-6016; Star UTV Max Stove; 4'x2' Stainless Steel prep table; Royal fryer PPT-50; Frymaster IES635T0; Intertek 12' Hood model 4524NO2; Bukckeye fire equipment suppression system; 2 Eagle group sink compartment; 4 sink compartment; Nortech Walkin refrigerator 15'x5'; Polar Freezer 6'x3'; (14) small buckets; (24) large glass mugs; (33) medium glass mugs; 4 Triton dispenser; (5) cutting boards; 4 compartmet steel cabinet; 6'x3' stainless steel prep table; (3) towel dispensers; (3) trash cans; (10) steel stove pans; (4) frying baskets; 5'x5' steel rack. The cola dispenser and adjacent beverage refrigerator are not included in the sale Tenant pays gas and electricity. Tenant is billed for 50% of the water bill. ABC 41 restrictions include quarterly sale of alcohol shall not exceed food sales during the same period and sales records kept and made available to ABC upon demand; Alcohol sales restricted to 6am and 11pm everyday and no off premises consumption permitted; no live entertainment permitted; no dancing. Please complete the on-line NDA and email to jonathan@restaurantrealty.com before requesting a walk through.

General Info

  • OrganizationContact For Info
  • Established2017
  • Current Owner2017
  • Employees1 (FT) (9 PT)
  • Reason For SaleOther Interests

Facilities

  • Seating80
  • Square Feet2150
  • ParkingStreet
  • LicensesABC 41; County Health Dept.; City Business Permit.
  • Open HoursContact For Info

Lease

  • Rent$7951.58 includes $1678.58 CAM
  • Expiration7/21/21
  • Yearly Increase3%
  • Option1 x 5 year @ 3% annual increases
  • Deposit$5912.50

Financials

  • Monthly Revenue$31,000
  • Monthly Cash FlowContact For Info
  • Annual Revenue$369,411
  • Annual Cash FlowContact For Info
  • 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