$219,000 – “Pedone’s Pizza & Italian” Restaurant

HERMOSA BEACH, California

Asking Price	$219,000	Year Established	1973
Annual Revenue	$435,000	Reason for Selling	Retirement
Annual P/L	$0	Attention	Steve Zimmerman
Annual Cash Flow	$106,268	Listing Number	986260
# of Employees	7	Business Category	Food & Beverage: Restaurants, Fast Food, Deli

Business Overview:

$219,000 – “Pedone’s Pizza & Italian” Restaurant Located in Highly Desired Downtown Hermosà Beach, Steps From the Beach!

RRC#  4968

Location:1332 Hermosa Ave, Hermosa Beach

Description:

First time budding restaurateurs wanting their own business need to look at this great opportunity for only $219,000 in prime downtown Hermosa Beach. Nestled a block away from a world-famous beach, the strand walk/bike path and numerous hotels, lies this 1819 sq foot restaurant. Hermosa Beach is one of the most popular and affluent beach communities in California. Fully renovated and modernized "interior and exterior" just 2 years ago gives the space a relaxed atmosphere at an incredibly good selling price! "No Tire Kickers Please". This Italian/Pizza business has been making serious pizza, pasta & other Italian food for more than 50 years. During this time, they have won multiple awards including Best Pizza, Best Pasta Dishes and Best Wings, with third party deliveries making up a large portion of the revenues. A beautiful large outdoor patio allows customers to enjoy the ocean air, making Pedone's a popular seaside resort restaurant. This restaurant offers sitting inside and outside for 130 patrons, a large fully equipped kitchen with walk-in cooler, a long granite bar countertop and an 18 beer tap system and an elaborate sound/tv system for events. The current owner offers live entertainment for customers to enjoy musicians, trivia, and comedy nights. Owner will provide all of the entertainment contact info. An ABC type 47 Beer & Wine license, the business name, social media sites, all online food ordering sites, customer list and all equipment/fixtures are included for this profitable LA coastal town restaurant. Incoming new ownership can keep the existing concept or change it to suit their own needs. Adjacent to Pedone's is a 200-spot parking structure, parking lot and plenty of street parking which makes this restaurant ideal. For the right qualified Buyer, SBA financing may be available to experienced Buyers with good credit. To receive more information and discuss this opportunity with the broker along with the broker's connections for a long-term SBA loan solution, please complete the 'Non-Disclosure Agreement' on our website and we'll send you the name and address of this business opportunity along with full financial information, lease & comprehensive list of equipment included with the sale. We'll also send you the Broker's direct contact information so you can discuss this opportunity in more detail.

Financial Information:

Monthly Revenue: $36,260 

Monthly Cash Flow: $8,855 

Annual Revenue: $435,000 

Annual Cash Flow: $106,268 

General Info:

Ownership: Sole Proprietorship 

Established:1973 

Employees:7  

Reason For Sale: Retirement

Monthly Rent: $12,000 Inclusive Water, Trash & Grease Trap 

Expiration: 2027  plus 5 yr Lease Option 

Facilities:

Square Feet: 1,819 

Seating: 60 inside + 70 Large Patio  

Parking: Adjacent Parking Structure, Parking Lot & Street Parking 

Licenses:ABC Type 41, Health & Business Permit  

Days/Hours of Operation: Sun-Thurs 12pm-12am, Fri/Sat 12pm-2am

Property Features and Assets:

<p><br></p><p>Facilities:</p><p>Square Feet: 1,819 </p><p>Seating: 60 inside + 70 Large Patio  </p><p>Parking: Adjacent Parking Structure, Parking Lot & Street Parking </p><p>Licenses:ABC Type 41, Health & Business Permit  </p><p>Days/Hours of Operation: Sun-Thurs 12pm-12am, Fri/Sat 12pm-2am</p>

Market Competition and Expansion:

<p><br></p><p>General Info:</p><p>Ownership: Sole Proprietorship </p><p>Established:1973 </p><p>Employees:7  </p><p>Reason For Sale: Retirement</p><p>Monthly Rent: $12,000 Inclusive Water, Trash & Grease Trap </p><p>Expiration: 2027  plus 5 yr Lease Option </p>

Additional Details: