Listing ID: 76690
This is a sleek, casual Mediterranean cuisine, brings in the crowd to enjoy its warm vibe with an emphasis on mezes and grilled meats, enjoy a selection of mezes, or opt for the main course. This restaurant is known for its delicious food, great décor, and fantastic ambiance. Under the same ownership from 2006. Located in the Mission Bay district. Buyers could continue with the same concept or change the cuisine taking advantage of this great location with tons of capital improvements.
Equipment: 11’ Type-1 Hood, Gyro Rotisserie machine, 2 Burner Stove with Oven, Fryer, Espresso Coffee machine, Ice machine, Food processor, Prep tables, Multiple Refrigeration units. A full list of equipment is available with the Listing Broker.
Organization: Sole Proprietor | Square Footage: ~1957 sq. ft. | Licenses Required: City Bus Lic, Health Permit, Sellers Permit, ABC Type-41 Beer/Wine Lic. (Included & Transferable) | Hours: Mon-Sat 11 am to 3 pm, 5 pm to 9 pm | Seating Capacity 78 | Reason for Sale: Other Business Interests |
Rent: $8,786/month including NNN
Lease: Seller’s lease ending April 2026. New 5yr lease plus 5yr option possible subject to landlord approval
N/A – Asset Sale
Financing: All Cash
All information contained in this document resulted from representations by Seller. Mission Peak Brokers, Inc. and its agents can not and will not verify the accuracy or completeness of any information. Purchasers must verify any such information themselves and should engage legal and financial advisors to assist with the process.
- Asking Price: $149,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2006
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:1,957
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
Seller training available for the same concept
Other buisness interests
The business was started in 2006, making the business 16 years old.
The real estate is leased by the business for $8,786 per Month
Why is the Current Owner Selling The Business?
There are all kinds of reasons people decide to sell companies. Nonetheless, the true reason vs the one they tell you might be 2 absolutely different things. As an example, they may say "I have too many other responsibilities" or "I am retiring". For lots of sellers, these reasons are valid. But also, for some, these may simply be reasons to attempt to hide the reality of changing demographics, increased competition, current decrease in incomes, or a range of other factors. This is why it is extremely crucial that you not depend completely on a seller's word, however rather, use the vendor's response together with your total due diligence. This will paint an extra realistic image of the business's existing scenario.
Existing Debts and Future Obligations
If the existing business is in debt, which many businesses are, then you will need to consider this when valuating/preparing your deal. Lots of businesses finance loans with the purpose of covering things such as inventory, payroll, accounts payable, etc. Keep in mind that in some cases this can imply that earnings margins are too thin. Numerous companies fall into a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may likewise be future commitments to consider. There might be an outstanding lease on equipment or the structure where the business resides. The business may have existing agreements with vendors that must be met or may result in fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Just how do companies in the location attract new customers? Often times, companies have repeat clients, which create the core of their daily profits. Particular aspects such as new competition sprouting up around the location, roadway building, as well as personnel turnover can impact repeat clients and negatively influence future profits. One crucial point to take into consideration is the area of the business. Is it in a highly trafficked shopping mall, or is it concealed from the main road? Undoubtedly, the more people that see the business often, the greater the chance to build a returning client base. A last thought is the general area demographics. Is the business placed in a largely inhabited city, or is it situated on the outside border of town? Exactly how might the local median home earnings impact future earnings prospects?