Albany restaurant est. 29 years convert to any concept

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Prime Albany location established 29 years convent to any concept
Asking Price:
$149,000
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Gross Revenue:
$426,563
Cash Flow:
$72,989
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed

FF&E:
 Not Disclosed
included in asking price

Real Estate:
 Not Disclosed

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Business Description

This is a fantastic restaurant located on a busy street in Albany. It has been owned and operated by the same owner for the past 29 years. It's time to retire!! The look and feel of the restaurant is very authentic. Ordering is done at the counter and food is cooked in a exhibition kitchen with a full hood. There is a prep kitchen in the back. The seating is comfortable in the front and there is a nice outdoor patio. Food is traditional Mexican and offers a good value to the community. This is a very stable restaurant that can be kept as is or converted to any other concept. The lease is very favorable:
Term to 10-31-23 + one (1) five year option. Rents are fixed throughout the lease. Rent including NNN is currently $4,635 monthly with 3% increases annually including NNN. Some posters are excluded. Price Reduction.

About the Business

Year Established:
1986
Facilities:
Great open kitchen and wonderful design
Market Outlook/
Competition:
Albany is a strong market for daytime and night time customers
Growth & Expansion:
Owners have been here for 29 years.
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About the Sale

Reason For Selling:
Retirement
Training/Support:
yes

Listing Info

ID:
1480293
Ad Detail Views:
290

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Business Listed by

Jeff Back

J. Back & Associates Restaurant Real Estate

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Source: Decennial Census (2010), United States Census Bureau.

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Source: American Community Survey (2010-2014), United States Census Bureau.

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