Listing ID: 77084
This is a rare opportunity to grab a fully loaded, well-built restaurant in one of the most desirable areas in Orange County. An Irvine location of this caliber rarely comes to market, in an extremely busy, high-traffic shopping center anchored by two national chain markets, as well as a handful of popular food establishments including a well-known national pizza franchise, a Starbucks, and one of Irvine’s most popular tea/boba hot spots. The plaza is centrally located on a busy intersection close to the freeway, within walking distance from a huge school.
This beautiful center was recently remodeled. The parking lot was expanded by 20% and the landlord built a large, well-maintained common outdoor seating area, significantly adding to the location’s seating capacity. Inside the space, the buildout is outstanding. The storefront features floor-to-ceiling glass and the dining area is well-lit with modern décor, and includes all the requisite furnishings and fixtures. The kitchen was smartly designed for food prep and includes everything required for operations: a 6′ x 6′ walk-in cooler, a huge hood system with fire suppression, a grease trap, stove, grill, fryer and much more. The equipment is extremely clean and well-maintained!
Many concepts are available for this center, including Chinese, Korean, noodles, Indian, Italian, Mexican, Vietnamese, burgers, and much more (pending landlord approval, of course). Availability of these prime locations is rare, but a “from scratch” buildout of this quality would easily cost 4x the asking price and come with a heap of time, frustration, and red tape. If you’re looking to expand your concept to an additional location, this opportunity is for you. It won’t last long, so reach out to the Agent today!
- Asking Price: $125,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2017
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
Great location, in a highly trafficked local center. Excellent demographics and a mix of residential and commercial buildings. Well maintained, fully equipped turnkey restaurant Highly visible signage for optimum exposure Rare opportunity in a low vacancy Irvine properties
Focusing on another business
The business was started in 2017, making the business 5 years old.
The property is leased by the business for $9,714 per Month
Why is the Current Owner Selling The Business?
There are all sorts of reasons people resolve to sell businesses. Nonetheless, the real factor and the one they say to you might be 2 totally different things. As an example, they might say "I have way too many other responsibilities" or "I am retiring". For lots of sellers, these reasons are valid. But, for some, these may just be excuses to try to conceal the reality of transforming demographics, increased competitors, current decrease in profits, or a range of other reasons. This is why it is really essential that you not count absolutely on a vendor's word, yet instead, use the seller's solution together with your total due diligence. This will repaint a more sensible image of the business's existing scenario.
Existing Debts and Future Obligations
If the existing company is in debt, which many businesses are, then you will need to consider this when valuating/preparing your offer. Numerous companies take out loans so as to cover things like stock, payroll, accounts payable, and so on. Remember that in some cases this can imply that earnings margins are too small. Many organisations fall into a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may also be future commitments to take into consideration. There might be an outstanding lease on tools or the structure where the business resides. The business may have existing agreements with vendors that must be fulfilled or might cause fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do businesses in the area bring in new clients? Most times, operating businesses have repeat customers, which create the core of their day-to-day profits. Specific variables such as new competitors sprouting up around the location, roadway building, and also personnel turnover can affect repeat consumers as well as adversely affect future earnings. One essential point to think about is the area of the business. Is it in a highly trafficked shopping mall, or is it hidden from the highway? Obviously, the more individuals that see the business on a regular basis, the greater the possibility to develop a returning customer base. A final thought is the basic area demographics. Is the business situated in a densely populated city, or is it situated on the edge of town? Exactly how might the local mean home earnings impact future revenue prospects?