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$99,000 for Fully Equipped 3,000 sq ft Restaurant

Chico, California : Restaurants
Listing #3044

$99,000 for Fully Equipped 3,000 sq ft Restaurant - Free Standing Building Located in Chico RRC#: 3044 Asking Price: $99,000 Location: Chico, Butte County, California Yearly Revenue: $600,000 Yearly Cash Flow: $60,000 Monthly Rent: $5,500 + NNN LISTING DESCRIPTION: Currently a Mexican Restaurant but the Seller, who is also the landlord will welcome other concepts if the suitable buyer can demonstrate their restaurant experience, future success with strong financials. The owner is willing to negotiate terms of a new lease. 3,000 square feet of 'Free Standing' building with ample parking for 60 vehicles surrounding the building and the restaurant seating for 80 with an ABC type 41 beer and wine license included. Chico is a University city and this restaurant has been popular with the locals and students for 12 years. Full support provided with all the employees In place. Many recent upgrades include new HVAC system, kitchen grease trap, landscaping, booth seating and many kitchen upgrades. Total recent renovations exceed $100,000. The kitchen is fully equipped and well able to cope with the demands most restaurant concepts, while the dining room with its combination of tables, chairs and booths creates a pleasant atmosphere. The owner is 78 and now wishes to retire from the day-to-day business operations but will remain as the Landlord. The landlord would prefer an owner operator to establish a strong business for themselves and he is willing to entertain any successful concept. The restaurant is in a 'Turn Key' condition together with many long serving employees making this the pride of the city. There will be a new lease available to interested parties with the initial monthly rent of around $5,500 fixed for 2 years with only 3% annual increases thereafter. Owner operators are preferred but the owner/landlord will review all buyers to purchase and run this business opportunity. Please complete the ‘Non Disclosure Agreement’ on our site and we will send you the name and address with the full financial information, lease & the list of equipment included with the purchase. We’ll also send you the Broker's contact information so you can discuss this opportunity in more detail. GENERAL INFORMATION: Organization: Corporation | Year Established: 1974 | Current Owner: 2006 | Employees: 15 | Seating: 80 | Square Footage: 3068 | Parking: 60 | Licenses Required: Business, Health Permit & ABC Type 41 License | Days Open/Hours: 11.00am - 9.00pm Daily | Reason For Sale: Other Interests | FINANCIAL INFORMATION: Yearly Revenues: $600,000 | Yearly Cash Flow: $60,000 | Payroll: $17000 | LEASE INFORMATION: Monthly Rent: $5,500 + NNN | Lease Expiration: New Lease Terms Negotiable | Yearly Adjustment: 3% | Lease Option: New Lease Terms Negotiable | Security Deposit: 5,500 |

Asking Price:

$99,000

Gross Income:

$600,000

(last 12 months)
Cash Flow:

$60,000

(last 12 months)
Inventory Value:

Undisclosed

Year Established: Business is Closed: No
Seller Financing Available: No Owner Operated: No
FF&E included: No Home-based: No
FF&E Value: Training provided No
Real Estate is included: No Easily Relocated: No
Value of Real Estate: $0 Number of Employees: 0
Real Estate Square Footage: 0

$99,000 for Fully Equipped 3,000 sq ft Restaurant - Free Standing Building Located in Chico

RRC#: 3044
Asking Price: $99,000
Location: Chico, Butte County, California
Yearly Revenue: $600,000
Yearly Cash Flow: $60,000
Monthly Rent: $5,500 + NNN

LISTING DESCRIPTION:
Currently a Mexican Restaurant but the Seller, who is also the landlord will welcome other concepts if the suitable buyer can demonstrate their restaurant experience, future success with strong financials. The owner is willing to negotiate terms of a new lease. 3,000 square feet of 'Free Standing' building with ample parking for 60 vehicles surrounding the building and the restaurant seating for 80 with an ABC type 41 beer and wine license included. Chico is a University city and this restaurant has been popular with the locals and students for 12 years. Full support provided with all the employees In place. Many recent upgrades include new HVAC system, kitchen grease trap, landscaping, booth seating and many kitchen upgrades. Total recent renovations exceed $100,000. The kitchen is fully equipped and well able to cope with the demands most restaurant concepts, while the dining room with its combination of tables, chairs and booths creates a pleasant atmosphere. The owner is 78 and now wishes to retire from the day-to-day business operations but will remain as the Landlord. The landlord would prefer an owner operator to establish a strong business for themselves and he is willing to entertain any successful concept. The restaurant is in a 'Turn Key' condition together with many long serving employees making this the pride of the city. There will be a new lease available to interested parties with the initial monthly rent of around $5,500 fixed for 2 years with only 3% annual increases thereafter. Owner operators are preferred but the owner/landlord will review all buyers to purchase and run this business opportunity. Please complete the ‘Non Disclosure Agreement’ on our site and we will send you the name and address with the full financial information, lease & the list of equipment included with the purchase. We’ll also send you the Broker's contact information so you can discuss this opportunity in more detail.

GENERAL INFORMATION:
Organization: Corporation | Year Established: 1974 | Current Owner: 2006 | Employees: 15 | Seating: 80 | Square Footage: 3068 | Parking: 60 | Licenses Required: Business, Health Permit & ABC Type 41 License | Days Open/Hours: 11.00am - 9.00pm Daily | Reason For Sale: Other Interests |

FINANCIAL INFORMATION:
Yearly Revenues: $600,000 | Yearly Cash Flow: $60,000 | Payroll: $17000 |

LEASE INFORMATION:
Monthly Rent: $5,500 + NNN | Lease Expiration: New Lease Terms Negotiable | Yearly Adjustment: 3% | Lease Option: New Lease Terms Negotiable | Security Deposit: 5,500 |


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