Long Beach / San Pedro Area Restaurant w/Outdoor Patio – Well Establis

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Asking Price:
$210,000

Gross Revenue:
$643,433
Cash Flow:
$26,194
EBITDA:
$26,194
Inventory:
$2,000
not included in asking price

FF&E:
$10,000
included in asking price

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Business Description

This venue is one of those well-established neighborhood favorites that locals have been going to since 1984. It operates seven days per week, from 7 am to 2 am. The restaurant offers a compressive selection of customer favorites in a comfortable and cozy neighborhood atmosphere. The kitchen has a full line including a large griddle and stove with 2 accompanying ovens, a warmer, 2 salad prep tables, a stand-up fridge and freezer, along with other equipment.

About the Business

Location:
San Pedro, California
Year Established:
1984
Number of Employees:
15
Real Estate:
Leased
Building Sq. Ft.:
1,200
Rent:
$3,100.00 Per Month
Facilities:
The 1,200 square foot facility plus sidewalk patio leases for $3,100 per month including triple net (NNN) expenses on a lease until 3/31/23 with options to be determined. All of the business’s furniture, fixtures, equipment and goodwill will be included in the sale. Approximately $2,000 in inventory will be sold at cost at close in addition to asking price.
Market Outlook/
Competition:
While competition invariably exists in this matured area, this venue is a well-established neighborhood favorite with decades of accumulated goodwill. As such, industry entrants would be hard repressed to present a sizeable immediate threat.
Growth & Expansion:
New operators will likely want to continue to operate the venue ‘as is’, but make improvements to staffing and food costs, and potential revisit the restaurant’s pricing and overall menu. The site could greatly benefit from a full-time owner operator familiar with the hospitality industry.
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About the Sale

Reason For Selling:
Personal
Training/Support:
2 Weeks at 20 hrs/wk

Listing Info

ID:
1673414
Ad Detail Views:
104

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