2 Seafood Restaurants: Gross $3.44M, Netting $660K, SBA OK, Prc $2.2M

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Business Description

> Two specialty seafood restaurants with a total annual revenue of approx. $3.29 million are on a package sale for $2.2 million.
> Popular restaurants as the origin of the best seafood recipes in the community, with crab, lobsters and oysters. Known home to one of the best seafood dishes.
> They are 3.2 miles away from each other and are still growing steadily. Located in the popular squares in the middle-class demographics of Garden Grove.
> This is a turnkey opportunity that will not last long in the marketplace. Complete absentee run profits. Type 41 and Type 47 license included, respectively.
> Here is a kicker that lets customers stick to the home-made Cajon dishes with unique recipes.
> Tight footprint and a favorable lease w/3 years leftover and 2 x 5 years long-term option, respectively. Very reasonable rent is still below 6% of gross sales.
> Opening hours are relatively short, only 7 hours a day. Book and record reported are from square. SBA loans are very possible.
> Monthly gross revenue is over $273,792 of which credit card revenues are accounted for about 84%, according to the latest sales history of the both locations YTD May 31, 2019
> Monthly net income is an average of $55,000 or up. Some catering sales by cash not included in the above net income
> Cost of goods sold equals on average of 35%, respectively
> For a brief overview of each restaurant, see below:
••• Location #1
• Monthly gross revenue is an average of $147,869 YTD May 31, 2019
• Monthly net income is an average of $30,000
• Beer and Wine license (#41) included
• All-in rent is $9,200, including NNN/CAM
• 2 yrs lease plus 2x5 yrs option
• Premise Sq. Ft. is approx. 5000
• Hours are from 3 pm to 10 pm, Mon-Fri and from 12 pm to 10 pm on Sat and Sun
• 5 full-time and 18 part-time employees. With wages of over $28,000 a month
• Established & operated for 8 years
• Ample parking in front and at the mall
• Priced at $1.1 million
••• Location #2
• Monthly gross revenue is an average of $125,923 YTD May 31, 2019
• Monthly net income is over $25,000, but not including substantial extra cash income from catering or occasional parties

• Liquor license (#47) included
• All-in rent is $8,000, including NNN/CAM
• 2.5 yrs lease plus 2x5 yrs option
• Premise Sq. Ft. is approx. 6000
• Hours are from 5 pm to 12 am, Sun-Wed, and from 5 pm to 2 am, Thu-Sat
• 5-6 full-time and 17 part-time employees. With wages of over $28,500 a month
• 25 bar seats and 235 dining capacity
• Established & operated for 3 years
• Street parking in front and a large public parking behind the restaurant
• Priced at $1.1 million, as well
• SBA loans are available with a down of $660,000 or 30% for two restaurants. A monthly installment payment of approx. $18,300 to be paid over 10 years at 7.5% annum
* Payments may differ depending on buyer's credit scores and interest rate applied
• Sign and return an online pdf. NDA form attached for your quick inquiry
• For more details, contact Kevin Kim at beeinvest.kim@gmail.com or leave a voice mail or text message at (714) 345-6514
• Strongly recommend visiting our office to learn more about these two unique business acquisitions and/or further financial details

About the Business

Location:
Garden Grove, California
Year Established:
2011
Number of Employees:
48
Real Estate:
Leased
Building Sq. Ft.:
11,500
Rent:
$17,200.00 Per Month
Lease Expiration:
12/31/2031
Facilities:
Utilities: Full kitchen. Lg public parking in the back. This is a full absentee run profit. Beer and Wine L/C and Hard Liquor LC included. Two popular seafood restaurants in Garden Grove area are on sale for a package of $2,2 million. SBA loans with a 30% down is available. Long term lease in place
Market Outlook/
Competition:
Yes.
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About the Sale

Reason For Selling:
Invest in another ventures and commercial property
Training/Support:
2 weeks training by on-site manage or employee and 4 hours by seller after closing
Seller Financing:
SBA Loans Available

Listing Info

ID:
1646076
Ad Detail Views:
944
Asking Price:
$2,200,000

Gross Revenue:
$3,285,504
Cash Flow:
$660,000
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$50,000
not included in asking price

FF&E:
 Not Disclosed
included in asking price

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Business Listed by

Kevin Kim

Bee Realty Group
License# 01922126

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