RIVER'S EDGE PUB & GRILL IS CLOSED AND FOR SALE. This a turnkey opportunity which includes the restaurant business and real property for details see below and also please contact:
OWNER
William J. Scheck, CFO
River's Edge Group, LTD.
VOICE & FAX: USA 702-248-5388
CELL: USA 702-539-8504
SKYPE: william,j.scheck
95% SELLER FINANCING RE: PURCHASE TURNKEY PUB & GRILL
Banks are not lending. But, I am! I am ready, willing, and able to help you
finance your dreams of owning your own restaurant plus the real estate at a
bargain price. Why pay $5,000 to $10,000 a month rent when you can make a
mortgage payment for less, and completely own your own business and real
property with the upside of the appreciation you will secure in both the
business and real property. In 5 to 10 years, you will double your
investment in both See the following for details.
Purchase remodeled and updated turnkey key pub and grill, real property, and
website for $675,000 reduced $75,000 from $750,000 for a QUICK SALE. We are willing to consider all offers! Do not be shy make an offer!
QUAINT RESTAURANT PLUS REAL ESTATE FOR SALE.
*** Idea for take out sub-shop, pizza, breakfast, deli, or coffee shop with dinning.
*** Has great deck over looking the Snohomish River.
*** All new fixtures and equipment.
*** Purchase business and real estate at bargain basement prices.
*** Idea set up for owner operator requiring few employees.
Terms 5% down = $33,750
Seller Financing = $641,250 at 7% amortized 30 years. Promissory note due and
payable in 10 years.
Payments principal and interest = $4,266.25/month.
Closing costs are minimal that is
1.
Escrow cost 50/50 buyer/sell.
2.Buyer pays for title insurance.
3.Seller pays transfer taxes.
4.No loan origination fees.
5.No credit checks or reports required.
See below for additional details!
BUY RIVER'S EDGE PUB & GRILL[1011 First Street, Snohomish, WA 98290 USA - 30 miles Northeast of Seattle on the Snohomish River. See www.riversedge.bz]: That is $150,000 for the restaurant business and $600,000 for the real estate for a total of $750,000.
The restaurant has been completely redone with all new equipment to include a walk-in freezer/cooler, stove, fryer, POS system, bar, tables, sinks, updated electrical system, interior pain, flooring, etc. We know the new equipment and improvements are worth $150,000 to $200,000 to replace. Also, the restaurant has a hood system, which is worth $150,000. Consequently, as an asset sale alone, the restaurant is worth approximately $300,000 to duplicate or more.
We can provide you with financial information for the last 7 years upon sending us a letter of intent to purchase the restaurant and real property, which will show since 22 Jan 08 to the present the gross receipts have been reduced 30% as a result of the down turn in the economy. Note, the depression/recession began in Dec 07. However, we believe within the next 1 – 2 years the economy will improve and gross sales will double and value of the real estate will increase, which makes the purchase of the of the real property and restaurant business a good deal!
Lease [NNN] River's Edge Pub & Grill [www.riversedge.bz] at $16.80/sq feet per year x 1,740 sq. ft. = $29,232.00 per year divided by 12 = $2,436.00 per month. plus
Insurance = $3,000 per year
Property taxes = $4,000 per year
Total = $7,000 divided by 12 = $583.33/month
Therefore, $2,436.00 +$583.33 = $3,019.33/month
Note, the average lease rate for a restaurant fully equiped in Seattle area is $28 sq. ft. per year.
1] First and last months down = $2,436.00 x 2 = $4,872.00
2] Security Deposit = $5,000
3].Total due at signing of lease = $9,872.00
4] Must maintain appropriate insurance for the restaurant
5] Must show proof of cleaning hood every 3 months
6] Must maintain fire extinguishers.
7] First right to purchase building in lease.
8] Also, we will consider a lease with option to purchase.
ALL OFFERS TO PURCHASE, LEASE, OR LEASE WITH AN OPTION TO PURCHASE WILL BE CONSIDERED.
PS: This would also be a great deal for a foreign investors to obtain a visa to enter the USA. Please see the following:
EB-5 Investor Visa Program
Congress of the United States created the EB-5 Investor Visa Program by passing the Immigration Act of 1990, allowing foreign investors to obtain permanent residency in the United States in exchange for meeting certain requirements. These requirements help generate foreign capital and job creation throughout the United State, and especially in area of high unemployment called targeted employment areas. 10,000 green cards or visas or permanent residency are made available each year for qualified immigrant investors. Qualified investors and each member of his/her family receive a conditional visa for two years, at the end of which they will all receive a permanent green card if EB-5 requirements have been met.
The U.S. immigrant investor program is called an EB-5 visa, also known as the Employment Based 5th Preference Visa. An EB-5 visa is a permanent U.S. visa based upon an immigrant’s investment that creates American employment, specifically ten (10) American jobs per investment. Among other requirements, the requisite investment capital is $1 Million USD, and in some areas of the United States that have high rates of unemployment called targeted economic areas or TEA’s, the EB-5 investment amount is reduced to $500,000 USD.
EB-5 Investments are broken into two categories: a direct investment into a business, or an investment into a federally approved Regional Center. A Regional Center is a designation granted to an entity that has completed an application process with the USCIS, and helps expedite the receipt of a permanent visa for immigrant investors. Regional Centers are organizations approved by U.S. Citizenship and Immigration Services to enable, manage and oversee the investment of funds designated by candidates for EB-5. Regional Centers help facilitate the application process, in addition to conducting the enterprises that meet EB-5 visa requirements.
Utilizing the Regional Center EB-5 Visa program, an investor has the most flexible path to a green card based on a U.S. investment. It can also be a relative quick way to earn U.S. Residency. Based on a qualified investment in the U.S., an EB-5 visa investor can earn a green card for himself and his immediate family including his children under age 21. The EB-5 visa does not require the applicant to manage the day-to-day affairs of a business. One may invest in an existing business, or a new business. More than one person may invest in the same business. The EB-5 investor will most likely be a minority owner of the business.
Qualified EB-5 investors will initially receive a conditional visa for themselves and their family, which will be made permanent if they can show the following as part of their I-829 Petition to be filed with the USCCIS: two years of U.S. residency have passed, the original investment requirements have been met and maintained, the investment has been continuous, and the required amount of American jobs have been produced
