Casual Franchised Deli Serving Gourmet Sandwiches, Housemade Soups, Salads & Baked Goods
High profile location, enjoying some of the highest foot traffic counts in the area, and a 5-year lease term.
This store has newer fixtures and equipment, built out to the Franchisor's requirements, with all current branding in place. With the cost of full TI build-outs in the $400,000 - $450,000 range for a store of this size, this presents an opportunity to acquire a proven successful, high-profile location for a fraction of what it cost to build.
The deli has shown steadily upward trending Annual Sales (2016: Up 26.35%, and 2017 up 10.74% YOY through the first half of the year), posting over $11,000 in sales during the store's busiest day on record to date, also recently showing a weekday high of $948.71 in sales in an hour on a single line and hitting a $3,0000 single-weekday threshold for the first time this August.
Sellers Discretionary Earnings for 2016 are estimated at $110K-$125K, and combined hours (hourly position) for the operating partners are approximately 35-50 hours per week.This is a tremendous opportunity for a savvy operator. With a pro-active delivery program and catering it is believed there is potential to achieve $800K annual sales level within 1 year of ownership.
1784 SF Facility Features:
Front service area with deli case, soup warmer, sandwich prep area, oven and service counter with in-place POS system
Large back prep area with walk-in cooler, grease interceptor, water heater and new water softener.
Fountain drink and bottled drink stations
Access to ADA accessible Men's and Women's restrooms
Indoor seating for 66 with access to shared outside seating for 8
Strong upward trending sales, which has continued in 2017
Equipment Upgrade Summary:
Fire Sprinklers - replaced per inspection
Sandwich line, salad line and soup station.
A/C new compressor
Walk in - new compressor, condenser/vaporizer
Storefront sign - serviced
Refurbished meat slicer
Small ware including nitro, microwave, pans etc...
Brinks POS registers
Refurbished ice machine
New water softener
Projected $15K-$18K in additional upgrades required by Lessor and Franchisor:
Paint interior dining area
New deli case
New sign blade
2013 - $508,897.36
2014 - $541,388.83
2015 - $528,248.22
2016 - $667,447.47 (Up 26.35%)
2017 - YTD ending 7/2/17 is $338,026.70, compared to $305,246.93 for same period in 2016 is up 10.74% YOY
Peak season runs from July - December, and the store just closed a very strong July at $73,724.82.
Projected sales for 2017 (based on a conservative Pro Forma 8.6% adjustment) are at $724,827.95
-Monthly Rent $8,057.41, including CAOE/NNN (13.3% of projected Y2017 Gross Sales)
-Lease Commencement Date Sep 1, 2017.
-Straight 5-Year Lease, Runs Through Aug 30, 2022
-Annual fixed 3% CPI, with no options in place.