Indian Restaurant for Sale in Lake Worth FL

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Indian Restaurant for Sale in Palm Beach County - Absentee and Profitable
Asking Price:
$78,000

Gross Revenue:
$317,040
Cash Flow:
$50,976
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed

FF&E:
 Not Disclosed
included in asking price

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Business Description

The current concept of this Restaurant for sale in Lake Worth, Florida is Indian Cuisine. The space can easily convert to any concept and is currently absentee run. This is perfect for an investor as staff and management is in place.

The Restaurant for sale has been in operation for one year. The owner has invested in this business, but does not work in the operation. Staff and management are in place and ownership only handles administrative functions. The restaurant for sale is profitable as an absentee investment, but an owner/operator could increase profits significantly by reducing the current labor cost. The business is forecasted to achieve sales of $317,000 in 2018 and when adding back the manager’s salary of $550 per week the restaurant for sale will have a seller’s discretionary income in excess of $50,000.

This profitable Indian restaurant for sale by We Sell Restaurants, is in Palm Beach County. It is in a recently remodeled shopping center in Lake Worth. The shopping center has 150,000 SF of rentable space and is anchored by Publix and a major new tenant. The new tenant that has moved in attracts thousands of customers to the center and offers no food. The remodel included new façade, parking lot, lighting, and painting. The daily traffic count in front of this shopping plaza is 49,000 vehicles per day.

Three are more than 110,000 residents within a three-mile radius with an average household income of more than $66,000. The most recent census data indicates that by 2020 the population growth will be more than 7.5% in both the three and five-mile radius areas. The restaurant occupies 2,384 square feet and seats 58 guests. The current lease expires in June of 2022 and has a five-year option period attached. The monthly rent is just $3,997 which includes CAM and taxes.

The fully equipped commercial kitchen has it all. The exhaust hood is 14 feet long and the grease trap is in ground. The equipment package includes six-eye burner with stove, tandoori oven, flat top grill, three candy stock pots, walk-in cooler and freezer, commercial refrigeration, and much more. The cooking equipment uses natural gas, which helps keep expenses low.

The front of house is nicely decorated and comes complete with a POS system and buffet set-up. The buffet is used only on the weekends and has been quite a hit with the customers. All recipes will transfer, and the owner will be available for two weeks for any training and questions about the operation.

About the Business

Year Established:
2017
Number of Employees:
3FT 5 PT
Real Estate:
Leased
Building Sq. Ft.:
2,384
Lease Rate/Sq. Ft./Mo.:
$3,997.00
Lease Expiration:
6/30/2027
Facilities:
5 two top tables
9 four top tables
3 booths
Booth seating
40 chairs
3 steam tables for buffet
Chafing dishes
4 high chairs
Host stand
Television
2 neon signs
Ice machine
7 prep tables
3 microwaves
S/S shelving
Three compartment sink
3 candy stock pots
Low boy cooler
Two door sandwich cooler
Six eye burner with stove
3 fryers
Flat top
Tandori oven
Two door beverage cooler
Walk-in cooler
Walk-in freezer
Single door stand-up freezer
Two door stand-up cooler
POS system
16 foot exhaust hood
Assorted pots, pans, utensils, smallwares
Market Outlook/
Competition:
The shopping center has recently had a renovation. New parking lot, lighting, facade, and paint has brought in new customers. Anchored by Publix and and action center, that offers no food, the center has become a destination neighborhood shopping center.
Growth & Expansion:
The three mile and five mile radius population is growing. The total population will grow by more than 7% in the next five years. The population will also get younger with more than 80% of the population being under 65 years old.
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About the Sale

Reason For Selling:
Personal
Training/Support:
Owner wil train for two weeks at no additional cost
Seller Financing:
67 % down

Listing Info

ID:
1547350
Ad Detail Views:
476

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Business Listed by

Ken Eisenband

We Sell Restaurants
License# BK3249847

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View My 24 Active Listings
Sponsoring Broker:

Eric Gagnon
We Sell Restaurants
License# H49152

U.S. Census Data for Palm Beach County, FL
Age

Gender

Ethnicity

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

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

U.S. Community Survey Data for Palm Beach County, FL
Income

Education

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

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.


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