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For Sale: Restaurant And Banquet Facility - With Catering - Los Angeles County, California

$8,000,000.00

Asking Price

  • Status: Active

  • Posting ID: 279813

  • 3/19/24

Los Angeles County Restaurant And Banquet Facility - With Catering Business For Sale

Description

This is a high-grossing restaurant & banquet facility along with outside catering for sale. The restaurant and real estate will sell together. It is appropriate for experienced restaurateurs and/or event planners. This is a full-service restaurant with a type 47 liquor license and banquet facilities. It has a large prep kitchen with a walk-in freezer and cooler, along with three separate cook lines and a pantry. One cook line was completely remodeled with a new hood and equipment in 2022.

The building is over 14,000 square feet with a seating capacity of over 300 and an additional covered patio with seating for 75. The standalone building boasts high ceilings, with lots of glass and skylights. There is an attached brewery with craft brewing equipment that is adjacent to the sports bar. There is plenty of parking available.

The local business community provides strong lunch business and catering Monday through Friday, and the residents give strength to dinner along with banquets on the weekends. Located in LA County near Whittier, it is easily accessible from the 5 and the 605 freeways. There is very little competition in the area. Interesting mixed-use redevelopment plans are being discussed to enhance the destination of the location.

The business' highly experienced team delivers a friendly experience for guests, with a tenured staff of 35 part-time and 17 full-time employees. Restaurant sales exceeded pre-COVID levels in 2022 and showed substantial YOY growth in 2023. It is a very profitable opportunity. The seller does not work in the business but pays himself $150,000. You can retain the popular American cuisine concept or make it your own.

Revenue:
- 2019 $4,583,722
- 2020 $2,434,974
- 2021 $3,624,923
- 2022 $4,588,612
- 2023 $4,554,948

The FFE Estimate is $1,300,000, including 3 Nissan and a Ford that will transfer. The restaurant pays the building $17,500 per month in rent. The estimated inventory is $34,000. The property was appraised Feb 2023 for $7,140,000.

To get more information about this Restaurant And Banquet Facility - With Catering business for sale in Los Angeles County please phone Linnea Westlake (Intermediary, Broker - BRE License #:02028068) at 925-209-4592 - if you get voicemail please leave a detailed message - make sure you mention you saw this posting/ad #279813 on BizBen.com. In addition to phoning Linnea Westlake, make sure you email Linnea Westlake above to get more info about this Restaurant And Banquet Facility - With Catering, to ask any questions or request an appointment to see this business for sale. Thank you. License # 01100886. Transworld Business Brokers.

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Contact

  1. Name: Linnea Westlake
  2. phone iconPhone: 925-209-4592

Details

  1. Asking Price: $8,000,000.00

  2. Down: $2,400,000.00

  3. Cash Flow: $300,000.00

  4. Revenue:    $4,554,948.00

  1. Area: Los Angeles County

  2. City: None Given

  1. Attributes:

    Broker CooperationAbsentee RunSemi-Absentee RunTraining & SupportReal Estate IncludedOwner/Seller FinancingLicense (Liquor, etc.)

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