Listing ID: 77264
This is an extremely well located small restaurant on College Ave in the Elmwood Area with full kitchen and seating for approximately 45 with beer and wine license.
This restaurant opened in 2018 and currently serves Thai food but can be converted to another use except Japanese, Mexican or Coffee Cafe. It has a dining room on the main floor and a mezzanine for additional dining. It has a full kitchen with new equipment. This is extremely well located on a busy section of College Ave near other restaurants and retail. Surrounded by residential.
Lease: Lease term to November 30, 2023 + 5 year option
Rent: $5,250 +$508.51 NNN Monthly
NO BROKER CO=OP
- Asking Price: $79,000
- Cash Flow: N/A
- Gross Revenue: $304,435
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2018
- 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
Approximately 45 seats including a mezzanine. Full kitchen with ansul hood and new equipment.
This is extremely well located on College Ave Elmwood section with street parking near other restaurants and retail. Great shopping district.
Convert to any concept except Japanese, Mexican, or Coffee Cafe. Currently Thai.
The business was founded in 2018, making the business 4 years old.
The real estate is leased by the business for $5,250 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons individuals choose to sell businesses. However, the real reason and the one they say to you might be 2 completely different things. For instance, they might say "I have a lot of other commitments" or "I am retiring". For lots of sellers, these reasons stand. But, for some, these may simply be reasons to attempt to conceal the reality of transforming demographics, increased competitors, recent decrease in profits, or a variety of various other reasons. This is why it is really vital that you not count totally on a seller's word, but instead, make use of the seller's solution in conjunction with your total due diligence. This will repaint a much more reasonable image of the business's present circumstance.
Existing Debts and Future Obligations
If the current company is in debt, which many businesses are, then you will certainly need to consider this when valuating/preparing your offer. Many operating businesses finance loans in order to cover points like inventory, payroll, accounts payable, so on and so forth. Bear in mind that occasionally this can suggest that profit margins are too tight. Lots of organisations fall under a revolving door of taking loans as a way to pay back various other loans. Along with debts, there may likewise be future obligations to consider. There may be an outstanding lease on tools or the structure where the business resides. The business might have existing agreements with vendors that should be met or might cause fines if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the area bring in brand-new consumers? Most times, companies have repeat consumers, which develop the core of their day-to-day earnings. Specific elements such as brand-new competition sprouting up around the location, roadway construction, as well as personnel turn over can affect repeat customers and also adversely influence future revenues. One essential thing to consider is the placement of the business. Is it in an extremely trafficked shopping mall, or is it hidden from the highway? Obviously, the more people that see the business on a regular basis, the higher the chance to develop a returning client base. A final thought is the general location demographics. Is the business situated in a densely populated city, or is it located on the edge of town? Just how might the neighborhood mean family earnings influence future income prospects?