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Asking only $1.2M! Church's Chicken in Birmingham Available!

Listing was updated on: 10/11/2019
Asking only $1.2M! Church's Chicken in Birmingham Available!

Property Overview

Price/Rent PSF $ 1,200,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available 1
Date Available 04/08/2019
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Description

2019 sales from January to August are over $614,000! Projected sales for 2019 are over $920,000! Appraisal was done just a few months ago that valued the property and business of a going concern at $1,500,000! First and third page of the appraisal are attached! Sellers are only asking $1,200,000 because of serious medical problems, they wish to retire to their home country! Just bring $200,000, which is less than 20%, to make the deal work! We have a bank ready to loan the rest of the money! Sellers are in the process of completing all renovations and image upgrade needed by Church's corporate including changing the dining room furniture and all exterior signs. So new Buyer will not have to worry about anything and will start making money right away. P&Ls from 2016, to 2018 are attached. Sellers are absentee owners, therefore their labor cost is about $165,000. An owner-operator could reduce that cost substantially! Located off a major Highway near the Interstate! 2016 Gross Revenue: $815,000. Net Profit: $200,000.  2017 Gross Revenue: $860,000. Net Profit: $240,000. 2018 Gross Revenue: $870,000. Net Profit: $230,000. Asking Price for Property and Business is $1,200,000. Appraisal is $1,500,000! Buyer will need to become a Church's Franchisee.

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