Asking Only $1.2M/ Church's Chicken in Birmingham!

For Sale$1,099,000

1428 Forestdale Boulevard, Birmingham, AL 35214

  • Restaurant

Details

  • Sale Price $1,099,000
  • City Birmingham
  • Neighborhood Forestdale
  • Zip Code 35214
  • Market Birmingham
  • Property Type Restaurant
  • Property Size 32,017 Sqft
  • Lot Size 32,017 Sqft
  • Property Tenancy Multi-Tenant

Description

Business-only is now available for $549,000 + inventory!  The right buyer only needs 20-25% down payment ($110,000 to $137,000) to secure an SBA business-only loan! Rent will be $6,500 NNN per month with a 15-year lease available. Buyer will net about $90,000 per year assuming no improvement to the business! Attached P&Ls only reflect property purchase and do not include rent.

 

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.

 

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!

 

Business-only is now available for $549,000 + inventory!  The right buyer only needs 20-25% down payment ($110,000 to $137,000) to secure an SBA business-only loan! Rent will be $6,500 NNN per month with a 15-year lease available.  

 

Buyer will need to become a Church's Franchisee.

Forestdale Demographics

The average household income in zip code 35214 is $56,091, from a total of 7,311 households. In terms of employment, there are 76.80 % white-collar and 23.20 % blue-collar jobs in zip code 35214.

Population

  • Total Population10,118
  • Male Population(44.9 %) 4,546
  • Female Population(55.1 %) 5,572
  • Median Age43.10

Income/Financial

  • Average Household Income$62,302
  • Median Household Income$51,924
  • Median Income 25-44$48,367
  • Median Income 45-64$55,194
  • Median Income Over 65$51,875

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