High-End Liquor Store Beach City. Fully Renovated. Cheap. Turn Key!

Costa Mesa, CA (Orange County)

High-End Liquor Store Beach City. Fully Renovated. Cheap. Turn Key!
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Asking Price: $568,000

Cash Flow: $201,563

Gross Revenue: $1,112,307

EBITDA: N/A

FF&E: $0

Inventory: $230,000*

Rent: $10,500 per Month

Established: 1982

*not included in asking price.

High-End Liquor Store Beach City. Fully Renovated. Cheap. Turn Key!

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Business Description

Absolutely Amazing Fit and Finish. Highend life changing store.

Back Bay Liquor

Beach Cities store, high end six figure income ultra safe community. Super high-end area multi million dollar houses across road. Largest markup % your going to get in any Liquor store.

$250,000 fully renovated store; has to be seen to be believed how amazing the fit and finish. Stone counter tops, custom sales counter made from Oak Barrels to look like Winery. Large store 2550 sq ft.

Tasting bar and tasting license; type 21 unlimited liquor license

3 dimensional oak barrel feature wall. New tiled floors. 14 door Beer Cooler; all cooler glass doors replaced with ultra efficiency glass. All 32 glass doors of refrigeration in the store.

New entrance, glass floor to ceiling security doors. Multiple freestanding wine coolers. All new high end shelving throughout store. Every wall feature wall decorated wood covered. New ceiling tiles and ceiling grid decorating.

All new energy efficient LED Lighting to minimize utility costs. Massive actions to insulate beer cooler to save utility costs. Air exchange system to pull cool outdoor temperature air at night in store and save on utility AC costs.

People say turn key but truly amazingly turn key, way better managed than any other Liquor store for sale in OC/LA Area. Computer system with extensive history on sales per product; a sales history on everything that sells. Operations manually 250+ pages with pictures, and walkthrough of all operational steps. Full trained and trustable staff.

Point of Sale software managed perfectly all inventory data, and data history nearly perfect in system. 5 Online Delivery sites setup, 2xDoordash, 1xGrubhub, 1xUberEats, 1xDrizly. Lotto Tobacco, and 2xATM Machines; 1 Bitcoin, and 1 Normal Cash ATM for Additional Income.

SDE 2021 = $201,563.70
SDE 2020 = $198,924.70

Over $1M in sales per year for store sales; $100,000 in online sales. 2021 Tax return income included in pictures.

Year before covid new landlord purchased the property and wanted to update the entire mall. mall has been 50%+ empty of major tenant spots for 2 years. Refilling mall commenced a few weeks ago. When the bar left 2 years ago this massively affected the business. Therefore the SDE for the two posted years are probably 25% lower on gross sales than what should have been if the mall had been fully filled. Landlord has finished construction of bar/restraunt retail suites, once filled new owner will get the benefit of this back. Fundamentally SDE Net Income above illustrates the lowest traffic time in the mall for a 40 year period. Store has been in this location from 1982. Mall has been renamed in by landlord to "The Ranch"; Store being renamed to "Ranch Spirits" in alignment with mall refresh. A new coffee shop bar moved in in late April 2022. There are 3 suites build and up for rent where new restaurants are going in the mall. 4th is in the process of construction. Traffic of the mall is going to explode.

Have Two, 5 year options left on lease so 10 years. Landlord signed tenant next door to 30 year lease; they want long term stable tenants.

In the process of pre certifying 7a SBA Loan. Spoke with banker says the numbers should qualify for financing at regular 75% LTV @ 5.5% interest. Therefore escrow down payment should be 25% the price of the business + inventory. Inventory about $230,000. Only dealing with well qualified buyers need to show ability to pay immediately on offer. With a qualified buyer 75% LTV 7a SBA loan on the business is $142K + $230K inventory = $372K down to purchase. With the $250,000 renovation; price is about 50% of 3 year+ value.

Priced to Sell Quick and Easy. An amazing product, at an amazing price, candidly the best liquor store your going to walk into for sale in the next couple years. There are assets one can tell that are amazingly taken care of, this is it. Doing comparables with other liquor store ads the quality of this store and its PE Ratio is the best.

Detailed Information

Location:
Costa Mesa, CA
Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
2,550
Lease Expiration:
1/31/2033
Employees:
4
Facilities:
All assets in the business. Everything that needs purchased is included; truely absolutely everything one could buy of need is already there its all really high quality. Do not need to invest a dollar. Usually you buy a business like this and spend 1 to 2 years profit getting it to such a high end finished standard. It is already done.
Competition:
We are in a residential area; there truly is no competition for a couple around us an island in a residential commuinity.
Growth & Expansion:
Landlord filling a total of 5 new restaurants in mall in short order. First filled in April 2022.
Financing:
SBA 7a Loan in the works.
Support & Training:
2 Weeks.
Reason for Selling:
Buying a partnership in another business.

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Business Listed By:
Jayme Kinneberg

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