Beautiful and well kept Thai cuisine standalone restaurant is for sale on a business highway in the heart of Mojave, California. Restaurant can seat about 60 people with many parking stalls on a lot size of: 35,284 sq. ft. Huge upside potential, the world renown company: Tesla is in the process of installing 12 Tesla charging stations on this property parking lot at: $150 per station, per month. Which this calculates to: $1,800 per month. Owner is hoping permitting of these installations will be finalized in December 2022. Then the owner will work on finalizing the design and easement with Southern California Edison. The inside scoop is that several Virgin Galactic corporate executives have been spotted eating at this restaurant. Current tenant is paying about: $3,000 per month which includes the $500 common area maintenance fee.
The Current calculation is a: 2.68% capitalization rate. Gross Scheduled Income = $3,000 x 12 months = $36,000 per year. $36,000 - $3,600 (10%) Vacancy Factor = $32,400 Gross Operating Income. $32,400 - $15,940 (Expenses of: Insurance (liability), Insurance (flood), Gardening/Maintenance, CAM water bill, Estimated taxes at: 1.25%) = $21,459 Net Operating Income. $21,459 /divided by/ $799,000 = 2.68% CAP Rate.
The ProForma calculation is a: 4.49% capitalization rate. Gross Scheduled Income = $4,800 (Thai & Tesla Tenants) x 12 months = $57,600 per year. $57,600 - $5,760 (10%) Vacancy Factor = $51,840 Gross Operating Income. $51,840 - $15,940 (Expenses of: Insurance (liability), Insurance (flood), Gardening/Maintenance, CAM water bill, Estimated taxes at: 1.25%) = $35,899 Net Operating Income. $35,899 /divided by/ $799,000 = 4.49% CAP Rate.
Located in a magnificently beautiful area in Mojave with plentiful parking! The restaurant is on the northern side of Mojave, close to the Mojave Air and Space Port. Fronting on Highway 14 where it turns East towards Bishop and Mammoth, the restaurant is highly visible and makes a logical stopping point for those making the long trip to and from those winter and summer resorts. Several driveways make it easy to exit the highway. Tenant is Not aware of the sale, please be very discreet. Visit as a customer only, do not walk in the kitchen nor the back of the counter. Do not ask questions to anyone, thank you.