Asking Price: $795,000 - Pendleton / $795,000 - Boise (12%+ CAP)

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Pendleton & Boise remain, while Medford is currently in escrow. The principals are extremely motivated to liquidate their holdings and will consider all reasonable offers. Pendleton has annual revenues in excess of $1.1 million with a monthly NOI of $12,000+, whereas Boise has annual revenues in excess of $1.4 million with a monthly NOI of $15,000+. Specific sales figures for each restaurant are available upon written request.

Boise was remodeled last year, while the improvements for Pendleton are tentatively scheduled for June; however, the owners would rather sell at a discount in lieu of making the improvements. The Boise blueprints are available for an interested operator - each building consists of approx. 6500 sf with a restaurant, lounge & banquet room.

All of the original buildings were designed from the same original blueprint. This is an excellent investment opportunity for a multi-franchise or company-owned operation and is basically a "turn-key" arrangement, except for the remodeling. The only restriction incorporated into the transaction would be the name. The principals have indicated that it is not for sale.

The following is detailed demographic information , for your convenience, on Pendleton:

Pendleton is located directly between Boise, Seattle and Portland, serving as a natural "stop-off" point for travelers driving in any direction. It is at the base of the Blue Mountains and acts as the transportation hub of Eastern Oregon via interstate I-84, state highways 395 & 11, and interstate I-82 north to the Tri-Cities, Yakima and Spokane.

The sole competing vender of the Kopper Kitchen along the interstate at this exit is Red Lion Motor Inn / Indian Hills, which has a dining room, lounge and coffee shop and focuses mainly on guests staying in the hotel. I am sure that you would agree that it concentrates on a very different market than the Kopper Kitchen. However, I presume it does create the potential to service Red Lion guests, since menu items and costs are lower. The area around the exit is now fairly well-developed and lacks the badly needed land for exposure in able for a prospective, competing restaurant to come on line.

Future competition seems unlikely. Four motels, totaling approximately 400+ rooms, surround the restaurant. The Umatilla Indian Reservation has fashioned a 42,000 square foot destination casino resort, dude ranch, hotel and golf course one exit east on I-84. Being so close to the resort obviously has its advantages - more people and a new tourist market to seize. Businesses in town along the interstate are projected to significantly increase sales as a result - not bad, considering sales for the year of 1995 closed at $1.1 million.

Historically, the annual sales have increased 6-8% per annum and revenues have consistently topped $900,000+ for the past 5 years. With proper management, any potential buyer should make a profit, even with a sizable annual bank payment. Direct financing is negotiable, given the right circumstances. The owner had originally intended on disposing the building, land and equipment for $550,000, $150,000 and $200,000 respectively, for an aggregate total of $900,000. The asking price has since been reduced to $795,000. As I mentioned, the owners are very motivated!