Legendary San Francisco East Bay Burger Restaur...

Contra Costa County, CA
Contra Costa County

Asking Price: Annual Revenue:
$995,000 $493,524

Food & Beverage: Restaurants, Fast Food, Deli

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RE: Legendary San Francisco East Bay Burger Restaur... Broker: Phillip Holt
License #: 01731143
Owner Financing is Available!

Quick Facts

Asking Price: $995,000
Annual Revenue: $493,524
Net Profit: Not Disclosed
Cash Flow: $211,525
Total Debt: Not Disclosed
FF&E: $22,000
Real Estate: Not Disclosed
Year Established: 1947
Employees: 4
BBN Listing #: 263538439
Broker Reference #: OAKLACA001-N255

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Business Overview:

Priced far below fair market value, which is about $1.3mil., this is an outstanding opportunity to purchase a well-established, easy to operate, high profit margin, independent (not a franchise) business along with its valuable real estate. And there is great potential for further business growth. The main reason for the low price is because the seller owns and manages another burger shop in another state, where he now lives, and he wants to simplify his life by selling the one here. Also, the low price reflects seller’s requirement for a relatively quick sale. So loyal is the customer base of this iconic burger shop that its sales increased significantly despite the Covid-19 lock-downs. Its burger shop concept means that most customers order the food to be taken away for eating, which means revenues have not been negatively affected despite the restrictions on indoor dining. This 70-year-old institution is an ideal acquisition for an owner-operator. Or, because there is enough cash flow, it could be run by an absentee owner with the hiring of a couple more workers. The burgers, fries and old-fashioned milk shakes are legendary in this corner of the county. Situated between a major shopping area and a large warehouse complex, it draws from nearby resident families and local workers. Included in this purchase price, besides the business and its shop building, is a 2-bedroom, 1-bath residence with attached single-car garage, currently rented by a long-term employee at a below-market rate. Located in a vibrant city that has a substantial business community and is a gateway to the lush San Joaquin River delta country, the business has long been a destination for locals. It also draws on the rapidly growing population of Eastern Contra Costa County. The real estate is well-located near the intersection of two busy streets and could be ideal for an investor or developer. The 2020 county tax assessor’s estimate of real estate value was about $728,000. Estimated size: Bldg/Liv Area is about 1,784 sq.ft.; the lot is about 18,339 sq.ft. (0.421 acres). Fair market value is probably about $800,000. Although this business was pre-qualified for SBA financing, that process takes too long and seller will not accept an offer relying on the SBA. Thus a buyer will need mostly cash and/or conventional financing of the real estate portion of the transaction. The seller will consider providing some financing for the business part of this offering. If an investor decides that the property has a higher and better use, the business could continue to provide decent net cash flow while plans for another use of the property were being developed and going through the pre-development permitting process. Or the investor could resell the business and collect property rent from the new business owner

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Property Features and Assets:

Real Estate License ID: 01731143

Reason for Selling:

Owner relocated out of state

Additional Details:

  • The property is owned.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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