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Well Established Hibachi & Sushi Bar in Lubbock TX

Lubbock, TX (Lubbock County)

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Asking Price: $250,000

Cash Flow: N/A

Gross Revenue: $1,000,000

EBITDA: N/A

FF&E: $120,000

Inventory: $24,000

Rent: $10,000 /Month

Established: 2008

Well Established Hibachi & Sushi Bar in Lubbock TX

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Business Description

Turn-Key Hibachi Steakhouse and Sushi Bar in Lubbock Tx

O'hana Japanese Steakhouse is equipped with 6 hibachi grills, a dining side with seating up to 52, a sushi bar with seating for 7, and a full bar with seating for 10. The restaurant is 3500 square feet. We are a well known local Lubbock established restaurant operating for 11 years! Voted Best Sushi in The Best of The West 2016! We are located in a shopping center with Dollar Tree and across the street from a high traffic Wal-Mart SuperCenter. Fully furnished, fully stocked, and fully staffed for next Owner to operate. No experience running a hibachi/sushi restaurant necessary. Owner is offering to fully train new Owner to take over current operations. Owner is relocating to Dallas area and was asking 300,000 but has just lowered it (7/11/19)to $250,000! Priced to sell fast and seller financing available! 50,000 down with 0% interest for 30 months! Sales reports and/or restaurant viewings are available to prospective buyers.

Detailed Information

Location:
Lubbock, TX
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
3,500
Lease Expiration:
12/31/2021
Employees:
24
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
3500 Square Feet, Parking 263 spaces, shopping center built in 2005, O'Hana remolded space in 2008, all chairs replaced and/or re-upolstered 2016, entire bar and host stand upgraded in 2018 and full interior re-painting this year! Current lease has 3 years remaining. $20,000 updating incentive offered by landlord if signing an extra 2 years on top of current lease!
Competition:
Located at the intersection of 4th Street and the West Loop 289. In a high traffic shopping center with Dollar Tree, Wingstop, Slim Chicken, Citi Bank, Wienerschnitzel, Cricket, and Pro-Cuts. And a Wal-Mart SuperCenter across the street. There are currently only 3 Hibachi restaurants total in Lubbock.
Growth & Expansion:
Expansion available with landlord, an extra 1,952-4,945 square feet available for growing!
Financing:
50,000 down payment and zero interest for 30 months
Support & Training:
Owner is offering full training of operations to new owner.
Reason for Selling:
Owner is relocating to Dallas area. Prospective buyers may call to make offers.
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Business Listed By:
Megan Webb

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