Popular Tex-Mex Restaurant w/Full Bar in Salt Lake

Not Disclosed, UT
Salt Lake County


Asking Price: Annual Revenue:
$525,000 $2,000,000

Food & Beverage: Restaurants, Fast Food, Deli


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RE: Popular Tex-Mex Restaurant w/Full Bar in Salt Lake Broker: Saul Komisar
Owner Financing is Available!

Quick Facts

Asking Price: $525,000
Annual Revenue: $2,000,000
Net Profit: Not Disclosed
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: $325,000
Real Estate: Not Disclosed
Year Established: 2012
Employees: Not Disclosed
BBN Listing #: 20249963
Broker Reference #: 1401-580569

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Business Overview:

This Award-Winning Tex-Mex restaurant is located on one of Salt Lake's most trafficked streets and is absentee operated. There are over 7,000 square feet of interior space capable of seating over 225 guests, plus a spacious outdoor courtyard that can accommodate an additional 75 patrons. The restaurant has a loyal following, with thousands of social media followers attracted to its unique menu and vibrant atmosphere. Revenues have mainly been COVID resistant in 2020 and without leveraging the facility's spacious layout capable of accommodating further take-out orders and delivery options. The business has been absentee operated since opening and comes with a fully staffed front and kitchen staff.

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Property Features and Assets:

All the equipment is relatively new and well maintained. The dining area, full bar, and patio are fun, unpretentious, and decorated with authentic Mexican artifacts. The current owner spent over $600,000 on leasehold improvements and FF&E within the last several years. The kitchen includes a full list of modern equipment, including walk-in coolers, burners, ovens, gas ranges, walk-in freezers, wine coolers, prep and washing stations, flat-screen TV's, integrated audio surround system, etc. Business Highlights: • Absentee Owned and Operated • Corporate Training Included in Purchase Price • Favorable Lease Terms • Identified Areas for Growth and Cost Reductions • Excellent Visibility on a High Traffic Count Street • Revenues Have Held Up Through COVID • Large Open-Air Terrace with Seating for Over 70 Guests • Plenty of Parking for Pick-Up & Delivery • Pristine and Verifiable Accounting Records • Full Bar License

Reason for Selling:

Retirement

Additional Details:

  • The property is leased.
  • 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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