Burger-Since 1946, 6-Day Run Short Hrs, Rev $288K, Net $81K, W Holywd

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Burger-Historic Since 1946, 6-Day Run Short Hrs, Rev $24K/m, Net $6.7K/m, W. Hol
Asking Price:
$149,000

Gross Revenue:
$288,000
Cash Flow:
$80,520
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$3,000
not included in asking price

FF&E:
 Not Disclosed
included in asking price

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Business Description

A monumental and historic hamburger diner on Santa Monica Blvd, being open since 1946 in West Hollywood. Located in a dynamic, vibrant area, where upscaling neighborhoods and exciting tourists stroll through busy streets all day.
More likely breakfast and lunch business. indeed open ‘til 7 pm. Six-day open. Closed on Sunday. The place is not noticeable but famous for its well-known quality and fresh, large handmade hamburgers.
Offering a variety of menu such as breakfast, burgers, hot & cold sandwiches, and tacos. The Hamburger does not disappoint and matches the decor and ambiance. This place is definitely a go to. It's cash only here. Below is a brief overview of how to operate and finance:
• Gross sales: $288,000/mo
• Net income: $6,710 /mo
• Cost of goods average 29%
• Current all-in rent is $3,950/mo
• Size: 1400 sq. ft w/more than 24-seating capacity, including outdoor patio
• Lease: 5 yrs and 5+5 years option. Buyer must apply for a new 10 year lease by the landlord’s rule
• Employee: 2 part-times and single hard-working owner works all day, 6 days a week
• Established for 72 years and run for 19 years by the current owner
• Operating expenses are about $6,425/mo, including about $1,500 sales tax per month
• No credit cards accepted
• Parking is a little tough as it's all street parking
• Express SBA loan very possible w/qualified buyer with 50% down, 720+ FICO, and at least 2 years restaurant experience. Buyer must prove appropriate financial statement, sufficient down payment in the bank account for more than 3 months, and similar restaurant experience. Business financials are only available to qualified buyer.

About the Business

Year Established:
1946
Number of Employees:
2
Real Estate:
Leased
Building Sq. Ft.:
1,000
Lease Rate/Sq. Ft./Mo.:
$3,905.00
Lease Expiration:
8/31/2028
Facilities:
Clean and ambience dining room, Deco, Walk-in cooler and freezer in one, Ice Machine, Soda fountain, Grill, hoods, prep refrigerator, char-broiler, Frier
Market Outlook/
Competition:
Many different restaurant along the street
Growth & Expansion:
Open on Sunday, extending open hours for breakfast and dinner.
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About the Sale

Reason For Selling:
Retirement
Training/Support:
5 days before and 5 days after closing the escrow

Listing Info

ID:
1513727
Ad Detail Views:
186

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Business Listed by

Kevin Kim

Bee Realty Group - BRE 01922126

 Show Phone Number

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