Listing ID: 67738
Huge 2nd Generation restaurant for sale in Austin!
Many upgrades have been completed! The dining room has been renovated, HVAC duct-work has been updated, and the kitchen is now “open” – visible to the customers! There is a brand new dishwasher, new water heater, and new filtration system for the ice machine. Many security improvements have also been added, new exit lights, and an upgrade the exterior lighting system. Tv’s and new speakers are being added soon.
This is a rare listing! A huge, stand-alone restaurant for sale has a great location, near I-35 in Central Austin, for incredible rent.
This well-done space is a massive 5,106 square feet, with current seating for an ample 165 customers. The $8,700 rent, including CAMS, on this restaurant for sale is very low considering the square footage, a fact that will save the next owner money each month for years to come.
This restaurant is in a great location. It is near a movie theatre and other thriving restaurants, including one that could be called a new Austin favorite. And this restaurant for sale is near not just I35, but another large highway as well, making this spot easily accessible from far and wide.
Also, this restaurant for sale in a well-known part of town, not flung to the outskirts. It is near massive development projects in Central Austin, with literally many millions of dollars being poured into the area. This is your chance to own a part of a Central up-and-coming area before it becomes too expensive — and it is literally right on the verge of doing so.
The building itself is, as mentioned, substantial. In addition to being a restaurant, this would be perfect for catering. The stand-alone building means easy access to the back for both deliveries and catering, and the substantial kitchen means there is room for catering preparation in this restaurant for sale.
If you are going to open a sizable restaurant in Austin, you already know the expenses involved. Buying this location is a way to get a jump-start on those. No need to build out a space from scratch, or to go through the laborious process of converting a non-restaurant space. This incredible restaurant for sale already has a huge kitchen, and vent hood, and grease trap. It is fully permitted.
Instead of spending your time and energy on the build-out, and all the layers of inspections, you can cosmetically change the interior into your dream location and be ready to open fast. The interior of this restaurant for sale could be converted to nearly any cuisine or concept. There is ample room to put in a bar, if that is desired. (The current restaurant has a Beer and Wine license.)
Don’t spend a million dollars building out your space. Save time and money with this location and keep the extra for ongoing cash flow as you bring your restaurant to profitability. Too often, restaurants that might have made it close early because they spent everything on the build-out and there is nothing left. With this restaurant for sale the money has already been spent.
This is a more-than-perfect location for the right restaurant, either a new concept or the expansion of an existing franchise. Come visit and you can see for yourself how great this restaurant for sale and its property is.
- Asking Price: $180,000
- Cash Flow: N/A
- Gross Revenue: $485,000
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2015
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:5,106
- Lot Size:N/A
- Total Number of Employees:11
- Furniture, Fixtures and Equipment:N/A
3 Swarovski Crystal chandeliers 2 Walk in coolers Freezer walk in 40 lb deep fryer Ice machine Metro C175 proof warmer 12 inch Hobart meat slicer Duke double door convection oven Roaster oven Vulcan 6 burner w 24 inch griddle and dual oven 30 qrt floor mixer 2 rice warmers Rice cooker 5 10 ton York AC units 2 POS Terminals Register Cash Box 72 inch 3 door True prep unit 48 inch 2 door True prep unit 155 chairs 34 tables Tableware enough for 250 People Aerohot 3 bay food warmer 6 ft x 3 ft 3 door stainless steel service station table 6 ft x 3 ft 2 door fridge stainless steel service station with hand sink 2 hand sinks 5 ft x 3 ft dual wok range 4 ft x 3 ft dual wok range 6 ft x 3 ft dual wok range 5 ft x 3 ft dual wok range 3 ft x 2 ft 2 compartment steamer 2 8 ft x 4 ft vent hood 30 ft x 4 ft vent hood 6 ft x 3 ft fan hood Bunn ice tea maker 2 3 gallons ice tea holders Cecilware CME15EN 15 gallon hot water dispenser 9 ft x 30 in prep table with overhead shelf and dual heat lamps 22 metal racks stainless steel prep tables Brand new wood floor 6 Brand new fans and lights
This area is undergoing a resurgence and restaurants are taking note and taking root This is a great time to get in to this particular geographic market There is not overwhelming competition in this area either
This would be a great location for either a new concept or a franchise If marketing can let customers know where you are then you are not far away from vast swaths of the Austin populace This would also be an excellent place for catering
The business was founded in 2015, making the business 7 years old.
The company has 11 employees and is located in a building with estimated square footage of 5,106 sq ft.
The property is leased by the business for $8,700
Why is the Current Owner Selling The Business?
There are all sorts of reasons people decide to sell operating businesses. Nonetheless, the real factor and the one they say to you might be 2 completely different things. For instance, they might claim "I have too many other commitments" or "I am retiring". For lots of sellers, these factors stand. However, for some, these might just be excuses to try to hide the reality of transforming demographics, increased competitors, recent decrease in profits, or a variety of various other reasons. This is why it is really crucial that you not count entirely on a vendor's word, yet rather, make use of the seller's answer along with your general due diligence. This will paint a more practical picture of the business's current scenario.
Existing Debts and Future Obligations
If the existing business is in debt, which many companies are, then you will certainly need to consider this when valuating/preparing your offer. Numerous operating businesses take out loans so as to cover items such as inventory, payroll, accounts payable, and so on. Bear in mind that sometimes this can imply that earnings margins are too thin. Numerous companies come under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may additionally be future commitments to take into consideration. There might be an outstanding lease on equipment or the building where the business resides. The business may have existing contracts with vendors that should be fulfilled or might cause charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the area draw in brand-new consumers? Most times, operating businesses have repeat consumers, which create the core of their daily revenues. Certain aspects such as brand-new competition sprouting up around the location, road construction, as well as employee turn over can impact repeat consumers and also negatively impact future profits. One crucial point to consider is the location of the business. Is it in an extremely trafficked shopping mall, or is it concealed from the main road? Clearly, the more individuals that see the business regularly, the greater the possibility to develop a returning consumer base. A final thought is the general location demographics. Is the business located in a densely populated city, or is it located on the outside border of town? Just how might the local typical household earnings influence future revenue prospects?