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Cafe & Bar - Midtown
This midtown 2,600 sq. ft. cafe & bar sets 152 customers with a full service kitchen and dining room. They also have an outside patio area that has a direct view of the intersection of two busy streets. The current menu is Chinese dishes, but can be converted to most any menu type. The Midtown area is home to many high end restaurants and bars serving the many condos, apartments, and commercial businesses between downtown and the Galleria. The semi-absentee owner does not have time to properly manage this business and is will to sell with Seller Financing.
Listed By: Jeffrey Jones
Background information
Reference:
82526
Year established:
2022
Reason selling:
The existing business is marginally profitable and the semi-absentee owner does not have time to manage the business.
Finance
Profits:
$0
Profit type:
Discretionary Earnings
Operations
Employees:
12
Inventory:
3000
Premises
Square footage:
2,600
Rent and lease terms:
This existing lease expires 5/25, but has two options to renew. The first option is for two years @$8,666.67 p/m and then a 5 year option at $$9,219.17 p/m.
Price and terms
Price:
$75,000
Down payment:
$30,000
Financing:
$30,000 cash down and $45,000 Seller Note for 3 years @ 6%= $1,368.99 P/M.
Training:
As needed