Friday, March 18, 2011

restaurant with real estate for sale

restaurant with real estate for sale

We are proud to offer this popular steak house and bar with full liquor license located in the beautiful Foothills of Butte County. The Real Estate was built around the same time and is included in the price.

Established in 1983 this restaurant and bar has earned a great reputation serving award winning prime rib, prime steaks, fresh seafood, pasta with a touch of Italy, and don't forget the smoked meats too! This is a local fun spot with Karaoke on Wed, Friday and Saturday and live music on some nights as well.

Location: This restaurant and bar is located on a busy road in a prime area of town and is surrounded by popular retail businesses. If you're looking to get out of the city and invest in slowing your lifestyle down, then you've found your investment.

The town is nestled among the pines, cedars and oaks in the northwest of the central valley of California near a university town. The population is skewed slightly older making this an active and friendly community!

As of 2010, population is 26,097 people. The median home cost in is $150,780. The median age is 47.5. The US median is 36.8. On average, there are 250 sunny days per year in the area. The July high is around 92 degrees. The January low is 38.

There are abundant recreational activities in the area including hunting, fishing, skiing, backpacking, and hiking along with countless rivers, streams and lakes. Not too far away is the city of Chico and it's not uncommon for Chico residents (pop.67,317) and the tourists heading to the Sierra's to lake Almanor and Quincy to patronize the Restaurant.

Features: This is a freestanding building. It has a lounge at one end, a kitchen on the other and dining in the middle. The Real Estate is located on .73 on an acre. There is a smoke house and outdoor patio, seats 30. Included in the sale is all the Real Estate, furniture, fixtures, equipment and inventory and type 47 liquor license. The kitchen is older, but well equipped and has everything you need! Great Parking Too.

THE NUMBERS: The restaurant has been open for 28 years and in the previous years had sales in excess of $750,000 as stated by the owner. Buyer needs to confirm this information and NOT rely on the broker's repeating what the seller has said. Over the past few years the owner states that sales are in the low to mid $300K range, but could be much higher with an experienced hard working operator. The owner says they do around $700-$800 per day in the restaurant and $300-$400 a day in the Bar. Owner states they did $7,000 in sales in one day this past Valentines Day. The lounge could also be easily turned into a sports bar if desired as well.

The owner will provide training and support to get a new owner off to a good start.

Financial information on the business will be limited, so if that's an issue this may not be the right opportunity for you.

Currently the restaurant is only open 4 days a week for Dinner and Drinks, so there's tons of room to increase sales by adding days and lunch, catering...maybe even breakfast if your really ambitious! Sales figures are owner stated and need to be verified by the buyer. Broker only represents what the seller has communicated to us.

The owner will finance with a large down payment depending on the buyers qualifications.

Why are they selling: The owner has property in another state and after 28 years in the business is ready to retire! Now it's your turn to make a good living and be the landlord too!

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