Contact: John Willingham, CBI, CCIM At 661-332-9401 Cell , 661-332-9401 Text - Also Email This Contact Below
Asking Price: $150,000 Down Payment: Call / Email
Annual SDC: $105,000
Annual Gross: $700,000
Business Address: None Given City: Bakersfield Zip: None Given
Attributes: Broker-Broker Coop, Training & Support
Like new business located in popular Northwest Bakersfield. Average Daily Traffic Count 2020, 16,094. Population within a 3-mile radius 89,494, Median HH Income $96,386. A popular diner and the only diner in the area. The owner says before COVID-19 that he was averaging $60,000 per month in sales and that is what the above proforma given to me by the owner is based on.
His numbers have been off, but he does have a private patio area, that he has been able to use and he is able to put some seating in the area in front of the Business. The owners spent around $300,000 in FF&E and Tenant Improvements. They have an ABC 41 License for On Sale Beer and Wine, which is interesting for a diner. However, the owner says that it is a good source of income and extremely popular with the patrons. This is your opportunity to buy this Business at less than half of what it would cost to open it new and it is a proven location. You'll start making money from day one.
The Business is well positioned in all of the search engines and is easy to find.
Employees: There are 2 cooks at $18.00 per hour full time, 2 dishwashers part time at $12.00 per hour and 7 Food Servers part time at $12 per hour.
Equipment: The Furniture Fixtures and Equipment (FF&E) are in excellent condition a complete list will be provided to the Buyer during due diligence. Once you sign a Non-Disclosure Agreement (NDA) you will be given access to a video of the location and the interior.
Inventory: Inventory of approximately $3,000 will be included.
Facility: The Shopping Center is only a few years old and the TIs are only about 1 year old everything is in excellent condition. The current owner is a professional restaurateur and the front and back end of the space is well designed for maximum efficiency. Seating capacity is 120 and there is a private patio area.
Square footage: 3,562
Rent and lease terms: Seven years and two months Lease with an option to extend for an additional 5 years. There are approximately 6 years left on the original term. The Current Lessee has been getting credit for the Tenant Improvements (TIs) of approximately $2,200 per month until the total amount of 77,777,78 is amortized. We will need to negotiate with the Lessor to see if that will continue.
Location: The Business is located in a highly desirable area on a hard corner with Average Daily Traffic Count of approx 16,000, population within a 3 mile radius is 89,494 and the Median HH Income is $96,386. This is a 100% location for this type of business.
Growth: Restaurants have been forced to close during the Covid-19 shut down and many of them are not going to reopen. The survivors are positioned to do an extraordinary business when things open and that is scheduled for 6-15-21.
Market: Bakersfield is a big restaurant town and people love to go out to eat and socialize.
Down payment: $150,000
Financing: At this price the Seller would like to get all cash
Training: Training will be given to a buyer as part of the price.
To get more information about this Breakfast Lunch Diner Restaurant, Liquor License business for sale in
Bakersfield, Kern County please phone John Willingham, CBI, CCIM (Broker - BRE License #:556588) at 661-332-9401 Cell and 661-332-9401 Text - if you get
voicemail please leave a detailed message - make sure you mention you
saw this posting/ad #264853 on BizBen.com. In addition to phoning
John Willingham, CBI, CCIM, make sure you email John Willingham, CBI, CCIM above to get more info about this
Breakfast Lunch Diner Restaurant, Liquor License, to ask any questions or request an appointment to see this
business for sale. Thank you.