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Yangtze Restaurant + Real Estate-Ontario, CA.

By in 2016 - Volume 18 with 0 Comments

Restaurant Realty Company is pleased to report the sale of Yangtze Restaurant in Ontario, California. The restaurant for sale was marketed by Restaurant Realty Company and the transaction was completed in September. The terms of the transaction are confidential.

This is a renovation or development opportunity in the heart of downtown Ontario and priced at land value ($27 PSF). 
The property consists of three buildings and a parking lot. The adjacent land parcels are owned by the City of Ontario.
 Please email listing agent for detailed brochure. Summary of the property: 
1.  Vacant Restaurant (5400 SF/APN: 1048-553-16) which was family owned and operated since 1961 as "Yangtze Restaurant" 
serving Chinese food. The owner and property owner retired and closed the doors on April 1st, 2015. FFE included and 
outlined below. Needs updating but has great "bones" and all the essential elements to become the "go to" establishment
 in downtown Ontario. Above the restaurant, there are two floors of a vacant hotel requiring extensive renovation 
(12,804 SF/APN: 1048-553-17). The owners believe the hotel was closed for business in 1967. The restaurant is separately
 metered electric, gas, and water. Adjacent to the restaurant are two retail units currently rented (3608 SF/APN 1048-553-17)
 for $2,000/mo (month to month). The retail stores and hotel may share one electric meter and water meter (subject to
 independent verification).
2.  Freestanding Warehouse (5000 SF/APN: 1048-553-02). Currently rented for $2,000/mo (month to month) which includes the
 two retail stores adjacent to the restaurant. Separately metered electric, gas, and water. 
3.  Kiosk (242 SF/Rented at $255/mo) and parking lots (APN: 1048-553-03,04). Separately metered electric and water.
Total building area: 27,054 SF.
Total land area: 36,746 SF (0.84 A).
Total monthly/annual rents: $2255/$27,060
Year Built: 1947/48 (approximate).
Zoning: Downtown Civic Center P.U.D.
This Ontario landmark property is located within the Central Business District of Ontario on State Highway 83 (Euclid Avenue) connecting the City with both the 10 and 60 Freeways in a City Redevelopment zone. The property benefis from  excellent street visibility, large parking lot at the rear of the restaurant, and is surrounded by new upscale Townhouse developments with residents eager to spend their money in the restaurant. Outstanding signage opportunities on both Euclid, rear of the building, and North side of the building.
This restaurant has separate entrances from both the dining room and a bar with cocktail lounge. The bar and cocktail lounge was last operated in 2000 but is a potential "gold mine" for an operator with a 47 license and desire to renovate the bar. The spacious dining room had  (17) booths and table sitting. The kitchen includes a (7) burner gas Wok range with hood and fire suppression system; (4) burner gas stove, oven, and griddle; walk in cooler; walk in freezer; dishwasher; ice machine; newer 80 gallon hot water heater; (2) basin SS sink; SS prep tables; misc. kitchen equipment, pots, pans, utensils and more. FFE will be itemized and memorialized within the sale agreement.
All measurements and specifications contained herein were obtained from a recent appraisal report completed on the properties and have not been independently verified. 
Please do not disturb the warehouse and kiosk tenants. Interior inspection after execution of Restaurant Realty Company Confidentiality Agreement. Lock box. Take flashlight and exercise caution when touring the interior of the restaurant and hotel. Inspection of the rented warehouse and kiosk shall be after accepted offer.

If you are interested in buying or selling a restaurant in Ontario or leasing a restaurant space in Ontario or anywhere else in California, please contact Restaurant Realty Company. Restaurant Realty specializes exclusively in the sales, acquisitions and leasing of restaurants, bars and nightclubs. Our listings include restaurant real estate, restaurant related businesses for sale, restaurant franchises for sale, and restaurant space for lease. If you are ready to sell a restaurant, bar or nightclub in Ontario or anywhere in California, please contact us to start packaging your listing for a successful sale like the former owners of Yangtze Restaurant.

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About The Author
Steven Zimmerman, CBI, M&AMI, CBB, FIBBA

Steve is the Founder, Principal Broker and Chief Executive Officer of Restaurant Realty Company. Steve has personally sold/leased over 1000 restaurant, bar or club businesses, sold many commercial buildings and completed over 3,000 restaurant valuations since 1996. His real estate experience also includes sales, acquisitions, management and ownership of numerous properties throughout California including restaurants, hotels, apartment buildings, single family houses, an office building and a multi-use retail building. Steve is also the author of Restaurant Dealmaker – An Insider’s Trade Secrets for Buying a Restaurant, Bar or Club available on Amazon. Prior to starting Restaurant Realty Company Steve had over 20 years of restaurant experience and was President and Chief Executive officer of Zim’s Restaurants, which was one of the largest privately owned restaurant chains in the San Francisco Bay Area. READ FULL BIO | HIRE EXPERT WITNESS - LEARN MORE