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Allen & Young Business Brokerage

Landmark Mexican Restaurant In Hereford For Sale

Hereford, Arizona
Asking Price:
$180,000 (USD) Furniture / Fixtures included
Sales Revenue:
$677,890 (USD)
Cash Flow:
$78,002 (USD)

Ricardo’s is a landmark restaurant and lounge in the Hereford/Sierra Vista area and has been the go-to place for excellent Mexican food for many years. After the original building was destroyed in the Monument Fire of 2011 a brand-new restaurant was constructed and continues to serve the community today. $990,000 was spent to rebuild/reopen Ricardo’s Restaurant.
Ricardo’s Restaurant occupies a 6,000 square foot building that is colorful and inviting. Their menu is extensive, and the recipes have been honed over many years. Ricardo’s is known for their hand-cut Angus beef steaks that complement the scrumptious Mexican-themed dishes.
The kitchen is fully-equipped and can handle any size group or function. There is seating for 140 in the main dining area and the banquet room can accommodate 60. Many special functions, parties and holiday gatherings have been held here.
A full bar with a #6 liquor license rounds out this offering with seating for 30.
Up until recently, Ricardo’s has only been open for dinner from 4PM to 8PM Monday through Saturday. The earnings are for 24 open hours per week. Beginning in January 2019 Ricardo’s will be open for lunch from 11AM - 2PM Wednesday through Saturday.
There’s no reason an aggressive operator couldn’t expand the concept to 7 days per week and perhaps breakfast as well.
Ricardo’s has excellent visibility along Highway 92, is very accessible and has plenty of parking.
The owners are ready to retire but desire to see Ricardo’s continue to be part of the food scene in the area. If you have restaurant experience and a desire to own a piece of culinary history in Southeast Arizona, then don’t miss this opportunity. Please direct all inquiries through Allen & Young Business Brokerage.
Ricardo’s, the business opportunity, along with the furniture, equipment, menus, recipes and liquor license, is offered at $180,000.
The real estate should be sold concurrently with the business and is offered at $850,000.
For more information contact John Oberg, Broker

Property information

Real Estate:

Real Property Included

Size in square feet:

Business Operation

Reasons for selling:

Sellers are retiring.

Years established:

Other Information

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

Seller will consider some financing for a qualified buyer.

Furniture / Fixtures value:
$120,000 (USD) - included in the asking price
Inventory / Stock value:
$30,000 (USD)

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