Restaurant with beer and wine.
Asking Price: | $165,000 |
Gross Revenue: | $314,000 |
Cash Flow: | $73,000 |
Great location at walking distance to vibrant “Old town Pasadena”. Traveled by Lots of cars and foot traffic. Established 30 years, 18 in this location. Building size is approximately 1,022 SF as per seller with seating capacity for 33 patrons. Rent is $3,975/MO, payroll is $12,500/MO, gross annual sales $314,000 and the net income is $73,000 as per seller’s tax returns. Kitchen is equipped with: walk-in cooler, walk-in freezer, a hood, flat top oven, 4 head gas burner, fryer, prep table, 2 sinks, another 2 compartment sink ,and a 3rd 3 compartment sink in the back, ice machine, dishwasher, new water heater and more. It serves American food, and a spiced variety of roasted chicken. Business opens 6 days Monday- Saturday 11:00 am- 2:30pm and closes between 2:30-5:30 then reopen 5:300-8:00. This long establish business with beer and wine license is surrounded by apartment buildings, offices, movie theaters, convention center, ice skating rink, restaurants ,shops ,bars, many hotels ,and Pasadena city hall. Has long term faithful customers that have been coming for 30 years. This destination is favorite among locals, neighboring communities and beyond for its tasty food, friendly staff, and great service. This turn-key business does not engage in any marketing efforts relying only on word of mouth. Great opportunity to grow and increase sales volume by: Advertising, using social media, starting happy hours, adding a delivery service etc. New buyer can keep the same concept, or convert to any type of cuisine. All equipment, furniture, fixtures and beer and wine license are included in the sale price. This opportunity is most convenient for an owner/operator, or as a family run business. Owner is 78years old, motivated and wants to retire.