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Historic North San Fernando Valley Restaurant – Parking, Patio & 60+ Years of Goodwill!
Northridge, California

Asking Price

$750,000

Office Listing #

WaynGolf
Revenue $2,812,557 / year Lease Rent Contact For Info
Cash Flow $296,937 / year Square Feet 4400
Direct Link www.restaurants-for-sale.com/26624

    

This historic north San Fernando Valley area restaurant boasts 60+ years of goodwill, making one of the most established and famed restaurants for its food category in the area. The business, which is truly a throwback to yesteryear, has a beer and wine license, outdoor patio, large parking lot and an extraordinarily loyal following that travel from outside of Los Angeles to enjoy its offerings. This 4,400 square foot restaurant leases for 7% of gross sales (under $250k/mo, net of sale tax, and 8% over) on a lease that expires on 12/31/2027 with 2 five year options. All of the business's furniture, fixtures, equipment, 60+ years of goodwill and Type 41 Beer & Wine License will be included in the sale. Approximately $15,000 in inventory will be sold at cost at close in addition to purchase price. While competition exists in the general restaurant category, this venue dominates the particular category that it is famed for. As such, with their years of goodwill in the same location, this venue is hard to match and would be difficult for an industry entrant to contend with. New operators will likely wish to maintain the same recipes and operations that have proven so successful for generations. Rather than modifying the venue’s ‘secret sauce’, the next generation of management may wish to open new locations (bricks and mortar, outlets or food trucks) or even consider going into the wholesale / retail market for its famed products.

  

General Information

Organization Sole Proprietorship
Year Established 1954
Current Owners 1988
Employees 34pt
Operating Hours Contact For Info
Reason For Sale Personal
   

Facilities

Seating Contact For Info
Square Feet 4400
Parking Contact For Info
Licenses 41
   

Financials

Revenue $2,812,557 / year
Cash Flow $296,937 / year
Payroll Contact For Info
Inventory Contact For Info
FF & E Contact For Info
 
 

Lease

Lease Contact For Info  
Expiration Not Available  
Yearly Adjustment Not Available  
Option Not Available  
Deposit Not Available  
     

Financing

Down Payment Contact For Info  
All Cash Contact For Info  
Note Balance Contact For Info  
Term of Note Contact For Info  
 
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Listing Contact

Ryan Clark
phone: 3106528353
R Clark
The Veld Group
phone: (310) 652-8353

www.theveldgroup.com

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The information in this listing has been provided by the seller or broker stated in the contact section of the listing profile. As such, Restaurants For Sale Online, LLC has no claim in the sale of this business and has not independently verified any of such information and assumes no responsibility for its accuracy or completeness. Read the disclaimer before responding to any ad.

 
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