Chinese Buffet In Phoenix For Sale

Business description

Beautiful decor! This restaurant was completely renovated in 2009. They offer an appetizing Chinese Buffet for Lunch and Dinner 7 days per week and have established a large repeat clientele. Located in an 8000 sq ft, free standing building on a very busy North Phoenix intersection. Seats 250 and has a large parking lot to accommodate the customers. They also rent out part of their back parking lot on Wed, Fri & Sat nights after 9:00 pm and are paid $460 per month. Good books & records. Seller will accept $150,000 for a cash sale.

Property information

Real Estate:

Lease

Lease terms:

Monthly rent $9,000. Lease expires January 2014 & has a 5 year option to renew. Lease deposit is $9,000.

Size in square feet:

8000 sq ft

Business Operation

Reasons for selling:

Relocating

Trading hours:

Monday through Thursday 11am-9:30pm; Friday through Sunday 11am-10pm.

Employees:

10 ft & 1 pt

Years established:

2

Other information

Support & training:

2 weeks

Owner financing:

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

Financing available:

$112,500 down; Balance @ 7 years; 6% interest

Furniture / Fixtures value:

$225,000 (included in the asking price)

Inventory / Stock value:

$20,000