PRICE IMPROVEMENT - Hillcrest UCSD Medical Uptown Redevelopment Zone
San Diego, CA
| Asking Price: | $249,999 |
| Gross Revenue: | $1,116,000 |
| Rent: | $10,500/Month |
| FF&E: | $100,000 |
| Cash Flow: | $80,000 |
| Inventory: | $30,000 |
| EBITDA: | $80,000 |
| Established Year: | 2011 |
Listing ID: 2186309Listing provided by BizBuySell
BUSINESS DESCRIPTION
BOM (lease has been extended for 5-years) This well established franchise without the fees. for over 11-years this business has profited and now is time to retire. All furniture, fixtures and equipment will convert. Menu, recipes (most) and social media will convey with sale. In the heart of the new Uptown Redevelopment District with hundred of new housing projects are pre-approved. This block is going thru massive transformation and the opportunities are endless. Current lease expires 2028 and landlord will be open to offer option on 12-months basis OAC and favorable exit terms for both parties.
DETAILED INFORMATION
Location
Relocatable
Inventory
Not Included in asking price
Real Estate
Leased
Building SF
2,637
Lease Expiration
31/10/2029
Employees
11
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
Fully fixturized turnkey restaurant and wine/beer bar. Gelato, coffee and desserts was original main business now a full Italian and pizza menu. Kitchen has it all, you name it even a pizza ceramic gas oven. Walk-in cooler and freezer. Great storage and 3 bathrooms. Two front of the house and one kitchen. Landlord just approved a 5-year option to the lease with a guaranteed buyout if landlord sells or redevelop. Ask for details.
Competition
Very well known established franchise restaurant 12 years in business. Close to UCSD Hospital and Medical district just minutes from downtown San Diego and Mission Hills, quick 5 min drive from Fashion and Mission Valley. 92103 area Hillcrest is experiencing a renaissance UPTOWN REDEVELOPMENT with many high rises under project coning soon!
Growth & Expansion
UPTOWN is booming with new housing development projects with many more to come in a 4 block radius. At times this can translate with lots of discretionary spending cash-flowing to the local neighborhood spots. This is an accredited and loved neighborhood restaurant for all services such as breakfast, lunch and dinner and a well known dessert spot all day. Many UCSD Medical offices and Hospital workers are regulars here as their beloved spot.
Financing
Cash. traditional loan or SBA loan could work but buyer needs to apply for.
Support & Training
Yes, 2 weeks weekdays 2 hrs a day.
Reason for Selling
Partnership relocation
Franchise
This business is an established franchise
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