Asian Restaurant In La Mirada For Sale

Business description

This is an excellent opportunity to acquire a well established Asian restaurant in the heart of the La Mirada. This business has a prime corner location, freestanding restaurant pad, in a mature shopping center anchored by the La Mirada Theater. The owners operate the business and are motivated to pass on their experience to the right buyer.

This facility is approximately ±9,600 sf. The current owner initially invested close to $300,000 for upgraded FF&E (Mongolian bbq grill set, ovens, fryers, buffet tables, dishwasher, refrigerators, walk in freezers, ice cream machine, drink stations, furniture and security equipment) and remodeling the restaurant. The spacious dining area can seat approximately 320 customers. There is plenty of ample parking in the shopping center.

The restaurant serves the area of La Mirada, where a large number of industrial businesses operate, as well as a plethora of business service industries. It is in a well trafficked area at the intersection of Rosecrans / La Mirada, close to the 5 / 91 freeways.

The current owner has focused primarily on offering a clean, low-cost restaurant option to the diners of La Mirada. In addition to the owner, there are approximately 10 full-time employees and 5 part-time employees.

Opportunities to grow and expand this business include advertising and direct mail promotions within the local business and residential community as well as marketing additional outside agency work. The ABC and Lessor have both given support for obtaining a beer/wine license which would also have a positive impact on gross sales, obtaining CUP approval from the City is required.

* There is also a unique equity partnership opportunity ($350,000) to convert his AYCE buffet into a Premium AYCE Korean BBQ restaurant, in which significant BBQ tenant improvements will be required, but will potentially impact gross revenues by tripling them at minimum. Such efforts will also help to extend the lease and gain options to renew.

This is an outstanding opportunity for the right individual buyer or equity partner.

Property information

Real Estate:

Lease

Lease terms:

TBD

Location:

La Mirada, CA
Where LA/Orange Counties meet
Close to 91 / 5 Freeways

Premises details:

Large neighborhood retail shopping center, anchored by two theaters, a gym, large retailers, grocery store and drug store.

Size in square feet:

9,600

Business Operation

Expansion potential:

Can be converted to an AYCE Korean BBQ Restaurant

Competition / Market:

Other ethnic and fast food restaurants, as well as Starbux, Panera, Taco Bell and IHop

Reasons for selling:

Client would like to focus on other entertainment related businesses.

Trading hours:

11am - 9pm

Employees:

10 full-time, 5 part-time employees

Years established:

11 years since inception, 4.5 yrs with current owner

Franchise terms

N/A

Other information

Support & training:

Available to train.

Owner financing:

Owner financing is available. Please contact the seller for more information.

Financing available:

25% down, 7 year fixed loan with 8% annum interest

Furniture / Fixtures value:

$300,000 (included in the asking price)

Inventory / Stock value:

$15,000 (included in the asking price)

Related documents:

• 
• Basic Brochure

Relocatable:

This business can be relocated.