Buy a restaurant with real estate in Arizona sierra vista
SellingRestaurants asks are you looking to get away from those long snowy winters in the rust-belt, Canada and northeast and northwest? Have you had enough with California's dismal economic climate where the future looks darker than the past? If so, then you've got to look at this Arizona high desert Family Italian restaurant where you buy the real estate and get a business for free! Yes, free! The real estate recently appraised at this asking price. The business's gross sales ranged between $730,000 to over a million a year.
THE FINANCING: If you put $200,000 down and get bank financing at 7% your monthly mortgage will only be $3,222 plus taxes and insurance. You couldn't rent this nearly 4,000 sq. ft. building for this mortgage payment. At today's sales volume that's a rent factor of less than 5%! Put a larger down payment and the owner may carry if you have great credit, solid restaurant management experience in a similar class of restaurants and plenty of working capital.
THE NUMBERS: Gross sales are split evenly between pizza, dinners and delivery with 2010 gross revenue at $730,000 with only 10% of the sale coming from bar sales. Grow the bar business here baby! There is a large government complex close to this business. 2010 adjusted net is in the $65,000 range, that's a bad year for them, as reported on the profit and loss statements with 2009 adjusted net in the $115,000 range, so there is great opportunity to get this place hopping again and making lots of cash!
THE PERSONNEL: There are three managers, which includes one owner, the wife, who draw salaries. And there are 22 part-time employees.
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