Profitable Maui Gourmet Restaurant With Real Estate Available For Sale

Business description

If you are looking for a business opportunity that makes great economic sense you have found it! This well known restaurant is located in a very high foot and road traffic spot in a commercial and tourist hub in Maui. The owners of the restaurant also own the building the restaurant is located in. They are offering to either: 1) sell the restaurant only for $500,000 and enter into a 5 year renewable lease with the buyer; or 2) sell the restaurant and the building together for $2.2 million. The building contains both the restaurant and an apartment. In 2008 total cash flow to business and building owners was over $246,000 (it was $313,000 in 2007).

Other wonderful things about this business:

• Turn-key operation that runs efficiently without the owner’s assistance. All systems, training and manuals are in place for the buyer to have the option of being an absentee-owner. Current owners take lots of vacation.
• Full liquor license.
• Low staff turn-over.
• Solid customer base. Repeat visits by both residents and tourists are the main core of the business.
• Great reputation and recognition resulting in referrals by hotels and residents and awards.
• Despite the current economic climate where businesses are either closing their doors or seeing their numbers decline by 20 to 30 %, this restaurant’s 2008 sales only declined by 10 % from 2007’s $991,000.
• Year to date June 30, 2009, owners profits are up 21% over the same period in 2008 due to better cost controls and more efficient management and annualized 2009 business profits are on track to $170,000.
Now is the time for you to own a very profitable business on the island paradise of Maui and the real estate it occupies. For more information, contact Tom Caltrider.

Property information

Real Estate:

Lease

Lease terms:

Seller will offer a lease to buyer of Business for an initial term of five (5) years, with the rent for the first twenty four (24) month of $8,380 per month, NNN, for the Business premises and $1,200 per month for the second floor apartment and then a three percent (3%) per annum rent increase for the next thirty six (36) months; and one (1) renewal option period of five (5) years with rent to be negotiated no later than ninety (90) days prior to the end of the primary period based on the then prevailing market rents.

Other information

Owner financing:

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

Financing available:

Yes! Seller is extremely confident in the business and is willing to finance $100,000 over 5 years at seven percent (7%) interest rate; monthly payments of $1,980.12

Furniture / Fixtures value:

$95,000 (included in the asking price)

Inventory / Stock value:

$6,000 (included in the asking price)