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Businesses For Sale   >>   Banquet Businesses For Sale   

Classic Mexican Restaurant With Liquor

Location  California,United States
Asking Price Range  $250K - $500K
Gross Revenues  $1340257
Net Profit / Cash Flow  $131725
Cash Flow Type  Sellers Discretionary Cash
Seller Finance  No
Year Established  1999
Number of Employees  35 - 49
Inventory  50000
Relocatable  No
Number of Employees  35 - 49
Real Estate  Leased
Training  2 weeks at 30 hours/week
Reason for Sale  Retiring

Description  
This classic San Diego Mexican restaurant that is for sale has served a loyal following for years and includes a full liquor license, outdoor patio and exclusive parking lot for approximately 35 cars. This traditional style venue has only had two owners in the last 45 years. It is centrally located within minutes of downtown, Sea World, the airport and Old Town San Diego, and benefits from the built in traffic generated from nearby shops and other restaurants. The restaurant's unique layout showcases its charming patio, and includes a significantly underutilized separate private party area with its own bar and kitchen. Asking Price $365,000 This 3,700 square foot restaurant leases for $10,200 per month on a lease with 2 years remaining and a 5-year option. All of the assets will transfer in the sale including the furniture, fixtures, equipment, Type 47 Liquor License, name, menu, recipes, website and years of goodwill. Inventory estimated at $9,000 will be sold in addition to the purchase price at cost at close. Competition is considered medium-high as many other restaurants exist in the immediate vicinity as this area is a popular destination zone for locals and tourists. The high concentration of retail shops and other restaurants offer a steady stream of visitors and potential customers, however this restaurant is unique in that it is housed in a stand along building with its own parking lot. The restaurant has significant room for growth. As the current owners have operated the business for many years, they have relied on its reputation, regular customers and conventional marketing methods for sales, and have not capitalized on newer social, online and mobile media channels for advertising. Additionally, a new owner may also capitalize on the underutilized private party/banquet space, which includes its own kitchen and an ideal potential bar with a beautiful second story view.


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