Bar / Restaurant 48 License El Centro

Location: California, United States
Category: Food and Beverage
Type: Established

Financials

Asking Price: $140,000
Cash flow: $52,217
Revenue: Not Disclosed
Gross Income: $156,510
Inventory: $18,000 - Included in the Asking Price
FF&E $60,000 - Included in the Asking Price
Real Estate: Not Disclosed

Business Details

This quaint El Centro bar is a favorite hangout for both locals and visitors. Conveniently located directly off the Interstate, this business has an amazing and rare 6% percentage rent on gross revenues. Customers range from short term passers-by, to long-term visitors working in local industry and construction, as well as regulars stopping by for a night cap and New York steak. The bar showcases over 60 types of tequila (some sold for over $40 per shot) and serves an array of quality home-cook style meals. Recently opened several years ago, this facility provides its guests with a warm, friendly atmosphere, and a pleasant escape from the burning summer heat or the frigid winter cold.

Facilities:
This 1,000 square foot facility comes equipped with over $60,000 in assets. The sale includes a 10 year lease set at 6% of gross revenues, expiring in 2013, with 2 5-year options. The business is located inside a national hotel, and includes approximately 500 additional square feet of patio space, and an atrium used for private parties and weddings. The sale includes new equipment (purchased 2 years ago) and a full build-out, making this a great opportunity.

Financing:
Seller will consider

Support:
Seller will train for 4 weeks at 25 hours per week

Competition:
Competition is considered medium, as other drinking establishments exist, however this opportunity thrives from excellent location and favorable lease terms.

Growth:
Many opportunities for growth exist. Flourishing growth in farming, agriculture, and construction within the Imperial Valley makes this an attractive area for new residents seeking an escape from the high costs of living experienced further towards the west coast.

General Information

Reason Selling: Retiring

Number of Employees: 3
Year Established: 2003