$210,000,000.00
Asking Price
Address: Ontario,
Status: Active
Posting ID: 285556
4/10/24
Description
This is a tremendous opportunity to own 2 popular Mexican restaurants with a full liquor license at both locations. The primary location even has real estate available for sale! This is the opportunity you’ve been looking for.
For almost 50 years, these high-volume Mexican restaurants and cantinas have been serving delicious Mexican food to its loyal customers. Located in one of San Bernardino’s BUSIEST thoroughfares, these restaurants & and cantinas won’t disappoint. This is a two-unit location with the second location only a few miles away, making management easier. Both have FULL liquor licenses. Restaurants can be purchased together or individually.
Established in 1974, these family-run restaurants offer a unique and pleasant dining experience. The menu features authentic, flavorful dishes from family recipes passed through generations and celebrated in a traditional and festive setting. The menu features traditional Mexican classics in contemporary dishes including plant-based options with an emphasis on freshness and flavor.
These restaurants are home to some of the Inland Empire's best-handcrafted margaritas. The family-owned restaurants are not only known for its Mexican culture you can taste in every bite but also for being a great place to watch your favorite sports team, enjoy happy hour and indulge on taco Tuesdays. There's always something fun happening in these restaurants and cantinas.
LOCATION 1 San Bernardino County:
REAL ESTATE INCLUDED. This restaurant is in a stand-alone, high visibility location on the busiest thoroughfare in the county. It is also just blocks away from the 10 and 210 freeways making the restaurant easily accessible to major freeways. There are a number of apartments and homes in the immediate vicinity. Additionally, there are major universities and tier 1 national businesses in the area and just minutes from the restaurant. The real estate is available to purchase along with the restaurant. The building and lot was recently appraised at $2.5M.
The restaurant consists of a large dining area, cozy cantina and cool patio dining. The dining area can accommodate up to 120 patrons, while the cantina can accommodate 38 patrons. The covered patio can easily accommodate 50 patrons. This is the perfect private party venue, offering a lovely private dining room and a warm fireplace in the main dining area. The cantina opens to a beautiful patio with 2 sets of French doors creating a large open room effect. Perfect for large private events separate from the main dining area. This restaurant also has barbeque smokers which has not been recently utilized, allowing for additional revenues for new buyer.
This location can easily accommodate large venues including weddings, birthday parties, fund raisers, quinceañeras, corporate events and any other major life events. The restaurant is approximately 4,392 sq ft on a large lot of approximately 30,300 sq ft and ample parking.
There is parking for 42 vehicles.
The restaurant is under-utilized. Current owners are retiring and are not promoting catering at the premises. Catering can substantially increase revenues. The restaurant also has a 47 full liquor license as well as a 58 off-site catering license. New owner can easily increase revenues by offering alcohol at catering events.
The real estate can be acquired with the restaurant, making this an ideal investment for generations to come.
2023 revenue was $940k. If ran at industry standards and based on current sales, new owner can expect $180k net profit. The full liquor license and premises has not been fully utilized leaving a tremendous opportunity for a new owner. The average revenue per foot is $223/ft. Based on the full liquor license and type of food served, this is below what the average revenue per foot should be, mainly because the owners are slowing down due to retirement. This leave a tremendous opportunity for new buyers.
To get more information about this Mexican Restaurant - With Full Bar, Established business for sale in Ontario please phone Steve Torabi (Intermediary, Broker - BRE License #:02022773) at 949-427-0414 Cell and 949-424-6065 Office - if you get voicemail please leave a detailed message - make sure you mention you saw this posting/ad #285556 on BizBen.com. In addition to phoning Steve Torabi, make sure you email Steve Torabi above to get more info about this Mexican Restaurant - With Full Bar, Established, to ask any questions or request an appointment to see this business for sale. Thank you. License # 01113651. Pacific Reliance Business Brokers.
Contact
Details
Asking Price: $210,000,000.00
Down: $210,000.00
Cash Flow: Call/Email
Revenue: $980,000.00
Area: Ontario
City: Ontario
Attributes:
My Notes About This Listing
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If your business involves alcoholic beverage sales, we can help. Obtaining a liquor license transfer or selling a business with a license in California does not have to be a frustrating and overwhelming process. We have procured thousands of licenses for our clients.
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