Chinese Restaurant - can be converted (Milpitas)
| Asking Price: | $160,000 |
| Gross Revenue: | $864,000 |
| Established Year: | 2000 |
| Cash Flow: | $158,000 |
| Inventory: | $5,000 |
Description:
This restaurant is a cornerstone in the Milpitas community, preparing family-style Chinese meals for dine-in or carryout. With over 23 plus years in town, a local favorite located in a shopping center anchored by National and regional retailers. They have ample parking to accommodate customers & provide an opportunity for heavy foot traffic to this restaurant. This business neighbors plenty of businesses, commercial & dense residential housing. Tons of untapped potential provides the future buyer with lots of growth opportunities. Type-47 Full Liquor License offered for $60k separately.
The seller plans to exit the food industry and is willing to work with the new owner to ensure a smooth transition and provide training and support as needed. Buyers could carry on with the sellers’ concept and improve revenue by expanding business hours, taking advantage of online delivery services, or opting for concept conversion. Possible concept conversion includes Indian, Korean, Japanese, Hawaiian, and American cuisines. Buyers could also take advantage of the hard-to-get Type-47 Full Liquor License by converting this space to a hip Bar with a small plate concept that is highly popular among younger demographics.
Equipment: Type-1 Hood, 4-Bruner Stove with Oven, Five Wok Stations, Double Fryer, , Sandwich prep table with 2 door refrigerator, Multiple Freezers and Refrigerators, Cash Reg, Prep tables, Multiple shelving, and much more. A complete list of equipment is available with the Listing Broker.
General Information:
Organization: Corporation | Square Footage: ~1,750 sq. ft. | Licenses Required: City Bus License, Health Permit, Sellers Permit, Type-47 Liquor License (not part of the sale) | Hours: Wed-Mon 11:00 am to 8:00 pm (Tue closed) | Seating Capacity: 65 | Reason for Sale: Semi Retirement |
Lease Information: Rent: $8,523/month including NNN.
Lease Term: Seller’s lease expiring in May 2027. Longer lease term possible for an eligible buyer subject to landlord approval.
Revenue: Sales: $72,000/Month (as per Seller, not verified by the Broker)
Financing: All Cash/ SBA Financing
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.
