Seafood Restaurant For Sale | Sylmar, California
Seafood Restaurant For Sale in Sylmar, California for $120,000! Seller financing available with $80,000 down. Asset sale. This is a great opportunity to purchase a fully built out and well established business. Currently the restaurant offers various types of seafood along with multiple sides options and beverages for take-out. There is also the option of fresh fish available for purchase. This restaurant has a great location within a large plaza surrounded by retail and commercial businesses. Restaurant would benefit greatly by extending hours as well as operating on Sundays to increase revenue. There is a loyal customer base and the restaurant has received many positive reviews. Please be advised that the owner will not entertain SBA loans, or third party lending. If seeking financing, buyer must be able to borrow against personal assets. Apply Here
Frequently Asked Questions:   Price: $120,000   Cash Flow: TBD   Financing: Yes   Listing: Active
What is the current gross revenue for this restaurant? This is an asset sale. The space has been built out to accommodate and operate as a seafood restaurant.
How does the restaurant profit? Current profits are generated from the gross revenue, minus food purchases, payroll, supplies, and operating expenses. This will determine your net/cash flow.
Can I finance this restaurant? Seller will finance up to $40,000. Terms to be discuseed. If more financing is needed you can review additional Financing Options Here.
What are my expenses and overhead for a restaurant business? Expenses will vary for each restaurant owner depending on the type of restaurant, number of employees, and location. Current expenses for this owner include: payroll, payroll taxes, workers compensation, advertising, supplies, food, utilities, property rental fees, permits and licenses, phone, and liability insurance.
Is the restaurant property owned or leased? Currently the owner leases the property. Lease terms remain for 3 years plus two 3 year options. New owner must be approved by the landlord. Note: New buyer will negotiate and sign lease terms with the property owner.
Where is the restaurant located? Located in Sylmar, California. Physical address will be released to qualified buyers upon execution of an NDA.
What type of equipment is included with the sale? Current list of equipment includes: freezers, refrigerator, fryers, ice machine, phone, stove, sinks, cash register, food prep tables, tables and chairs, kitchenware, and more.
What size and how many customers can this restaurant seat? Restaurant is 950 sq. ft and take-out only.
Does this restaurant currently have a beer or liquor license? No, there is no beer or liquor license included with this sale.
Does the restaurant offer drive-thru or delivery service? There is no drive-thru or delivery service offered.
How long has the seller owned the restaurant? Restaurant has been established for 50 years. Current seller has owned this restaurant for less than 1 year.
Why is the owner selling? Seller owns another business and does not have time to manage both.
What are the hours of operation? This restaurant is operated from 10:30am to 7:00pm, Monday - Saturday.
What type of neighboring businesses are in the area? Neighboring properties are a mix of retail and commercial businesses.
What do you recommend when purchasing a business? When purchasing this type of business we recommend forming some type of entity such as an LLC or Corporation to do business under. This not only offer protection for your personal assets, but also ensures protection of your business. If you need help forming this, we recommend that you Form A Corporation Here.
What else should I know? Opportunity to purchase a fully built out, operational restaurant in a great location. Restaurant has a loyal clientele and positive reviews. Includes all equipment. Plenty of opportunity to increase revenue. Priced at $120,000. Seller financing available with $80,000 down. For additional information and to evaluate this business further Contact Us About This Restaurant Here!
Disclaimer: Restaurants For Sale is a Restaurant Broker that brings buyers and sellers together. Restaurants For Sale does not represent, or is not affiliated with the company or franchise being offered. All agreements are made between the buyer and seller and not Restaurants For Sale. It is the prospective Buyer's duty and obligation to verify the accuracy of the Sellerís representations and if necessary retain attorneys, accountants, business appraisers, or other professionals. The representation of income is based on the efforts of the current owner. As with any business you can make more or less.