Growth Strategy 2026–Q1 2027

Moon Thai & Japanese — Expansion Opportunity

This presentation outlines a strategic expansion plan for Moon Thai & Japanese and its fast-casual sister brand Ohho Noodles across 8 new locations in Florida — 4 at existing second-generation restaurant spaces ready for immediate takeover, and 4 optional new-build locations. Second-generation locations can be operational by end of 2026; new-build locations are projected to open in the first quarter of 2027. With the addition of targeted viral marketing — Moon Thai and Ohho Noodles currently operate on word-of-mouth only — and a realistic revenue assumption of $1,200 per square foot, the 8 new locations represent a projected total annual revenue increase of approximately $28.32M for the company.

Our search initially focused on second-generation locations. However, during our research and site visits, several new-build locations demonstrated stronger upside potential and better brand fit. Accordingly, we have included an equal number of options for both expansion types in this presentation.

4

2nd Generation Locations

4

Optional New Build Locations

$28.32M

Projected Annual Revenue

$1,200/SF

Revenue Assumption


Future Location — Palm Beach Gardens, FL

Moon Thai & Japanese — Coconut Crossing

Coconut Crossing is one of Palm Beach County's most anticipated new retail developments — a 96,708 SF center at the southwest corner of Northlake Boulevard and Coconut Boulevard in Palm Beach Gardens, directly across from the main entrance of Avenir. Moon Thai & Japanese is targeting the endcap at 12750 Northlake Blvd, Suite 140 — a 3,130 SF space perfectly sized for a full-service Thai and Japanese dining experience. The center is anchored by Aldi, Starbucks, Wendy's, and 7-Eleven, with a tenant mix that includes Noire The Nail Bar, Marco's Pizza, Tropical Smoothie Café, and more. The trade area serves over 14,350 homes approved or under construction, with an average household income exceeding $150,000. With two traffic signals, multiple access points, and a captive residential base in Avenir and the Acreage, this endcap location offers exceptional visibility and all-day dining demand.

NOTE: Moon Thai Group has executed a transferable LOI for this property.

View Listing

Property Details

  • 3,130 SF endcap (Suite 140)
  • 12750 Northlake Blvd, Palm Beach Gardens
  • Brand new development (2025–2026)
  • Anchored by Aldi, Starbucks, Wendy's
  • 14,350+ homes in trade area
  • Avg. HHI exceeds $150,000
  • Across from Avenir community
  • Katz & Associates | katzretail.com

📊 Projected Revenue Estimate: $1,200/SF | Est. Annual Revenue: ~$3.76M

Future Location — Port St. Lucie, FL

Moon Thai & Japanese — Shoppes at the Heart of Tradition

The Shoppes at the Heart of Tradition is one of South Florida's most exciting new retail destinations — a 71,000 SF ALDI-anchored center located at the SWC of Village Parkway & Discovery Way in Port St. Lucie's master-planned Tradition community. Moon Thai & Japanese would occupy approximately 3,864 SF of prime end cap space, offering exceptional visibility, dedicated signage, and direct access from a busy signalized intersection. Tradition is one of the fastest-growing communities in the U.S., with over 38,000 new homes planned across seven surrounding residential neighborhoods — delivering a built-in, high-income customer base with an average household income exceeding $119K within 1 mile. The center is already home to a curated mix of dining and retail tenants including Kyle G's Amore Italian Chophouse, Rita's Italian Ice, Peach Cobbler Factory, and Swift Mediterranean Grill. This is a new-build end cap opportunity — Moon Thai would be among the anchor dining tenants in a community that is growing rapidly and underserved by full-service Asian cuisine. Contact: Zach Feldman, PEBB Enterprises · (561) 939-1801

Property Details

  • 3,864 SF end cap space (new build)
  • Shoppes at the Heart of Tradition
  • SWC Village Parkway & Discovery Way, Port St. Lucie, FL 34987
  • ALDI-anchored 71,000 SF center (opened 2024)
  • 38,000+ new homes planned in surrounding area
  • Avg HH Income: $119K+ (1-mile radius)
  • New kitchen buildout required
  • Contact PEBB Enterprises for lease terms


📊 Projected Revenue Estimate: $1,200/SF | Est. Annual Revenue: ~$4.64M

Future Location — Little Havana, Miami, FL

Moon Thai & Japanese — Little Havana

45 NW 22nd Ave is a rare standalone restaurant building for sale in the heart of Little Havana — one of Miami's most unique, high-traffic, and culturally vibrant neighborhoods. This fully built-out, turnkey 2,700 SF restaurant sits on a massive 23,127 SF lot with approximately 40 on-site parking spaces, outdoor seating, and 177 feet of frontage on NW 22nd Ave. The property includes a fully equipped commercial kitchen (12ft exhaust hood, 1,600-gallon grease trap, walk-in refrigerator, natural gas), making it ready for immediate operation with minimal downtime. A functioning car wash on-site generates supplemental income of $3,265/month to offset occupancy costs. With T6-8-L zoning allowing up to 8 stories, 78 dwelling units, and 11,000 SF of retail, the long-term redevelopment upside is exceptional. Seller financing available: 30% down, 3-year term, interest-only. Contact: Luis Guevara · 786-487-5402 | Mauricio Zapata · 305-576-7474 | Chariff Realty Group.

Property Details

  • 2,700 SF standalone building
  • 23,127 SF lot | ~40 parking spaces
  • Fully equipped turnkey kitchen
  • Outdoor seating | 177' frontage
  • Car wash income: $3,265/mo
  • T6-8-L zoning | Up to 8 stories
  • Seller financing available
  • Luis Guevara · 786-487-5402

📊 Projected Revenue Estimate: $1,200/SF | Est. Annual Revenue: ~$3.24M

Future Location — West Palm Beach, FL

Moon Thai & Japanese — Tanger Palm Beach

Imagine Moon Thai & Japanese inside one of South Florida's most visited shopping destinations — Tanger Palm Beach at 1751 Palm Beach Lakes Blvd, West Palm Beach. With 5,000–15,000 SF of flexible restaurant space available and over 4.6 million annual shoppers, this high-profile outlet center offers an unmatched opportunity to bring authentic Thai and Japanese cuisine to a massive, affluent audience. Neighboring top-tier brands like Saks Fifth Avenue OFF 5TH, Nike, and Under Armour, a 3,000 SF Moon Thai here would be perfectly positioned for high-volume lunch and dinner traffic. Nearby BJ's Burger restaurant is doing 8 million in sales anually suggesting pent up demand in this complex.

Nearby competition is thin and weak.

Realtor noted we can use a smaller piece i.e. 2500-3000 sq. feet.

Location Highlights

  • 4.6M+ annual shoppers
  • 1.5M resident trade area
  • Avg. household income $120K+
  • Adjacent to Saks OFF 5TH, Nike
  • 1751 Palm Beach Lakes Blvd, WPB
  • 5,000–15,000 SF available

📊 Projected Revenue Estimate: $1,200/SF | Est. Annual Revenue: ~$4.2M

Future Location — Downtown West Palm Beach, FL

Moon Thai & Japanese — 330 Clematis Street (likely swapped out for the very nearby Mystic Table location depending on availability)

330 Clematis Street presents a rare second-generation restaurant opportunity in the heart of Downtown West Palm Beach — one of South Florida's most vibrant and walkable entertainment districts. This 3,555 SF space features a fully functioning kitchen ready for immediate use, beautiful high-ceiling interiors, an outdoor patio at the front, and a rear courtyard for additional exterior seating. Located steps from The Ben Hotel, Rosemary Square, the Brightline Station, and the Don & Ann Theatre, the space sits in a corridor with heavy daytime foot traffic and electric nightlife. With 2,400+ new residential units, 2,300 new hotel rooms, and 3.2 million SF of new office space underway nearby, this is a prime moment to plant Moon Thai's flag on Clematis Street. Lease rate: $70/SF NNN.

Property Highlights

  • 3,555 SF | For Lease
  • $70/SF NNN
  • Fully equipped kitchen
  • Front patio + rear courtyard
  • High ceilings, beautiful interior
  • Steps from Brightline Station
  • Near The Ben Hotel & Rosemary Sq
  • Contact: Bryan Cohen · 561-471-0212

📊 Projected Revenue Estimate: ~$1,200/SF | Est. Annual Revenue: ~$4,266,000

Future Location — West Delray Beach, FL

Ohho Noodles — West Delray Beach

NOTE: This location may get swapped out with another nearby location due to potential competition conflict.

14917 Lyons Road, Suite 114, Delray Beach, FL — a fully built-out, turnkey 2,305 SF quick-service restaurant in a busy West Delray retail corridor at the intersection of Lyons Road and W Atlantic Ave. The space features a modern QSR layout with counter-order service, indoor dining, and a large outdoor patio with fire pit, umbrellas, and lounge seating — perfect for Ohho Noodles' fast-casual noodle concept. The kitchen is fully equipped with a Captive Air hood system, two 1,500-gallon grease traps, walk-in cooler and freezer, two fryers, two 48" flat tops, convection oven, and all stainless prep stations. All FF&E is approximately 3–4 years old and included in the $250,000 asset sale. The space has a proven sales history averaging $1.6M+ annually. Lease: ~$11,484/month, assignment subject to landlord approval. Contact: Prakas & Co. · 561-368-0003 | tom@prakascompany.com

Property Details

  • 2,305 SF QSR space
  • 91 seats (indoor + patio)
  • Fully equipped turnkey kitchen
  • Outdoor patio with fire pit
  • $250,000 asset sale (FF&E + leasehold)
  • Lease: ~$11,484/mo
  • Avg. $1.6M+ annual revenue
  • Prakas & Co. · 561-368-0003

📊 Projected Revenue Estimate: $1,200/SF | Est. Annual Revenue: ~$2.77M

Opportunity — Palm Beach Gardens, FL

Ohho Noodles — PGA & Prosperity

2626 PGA Boulevard, Suite 114 — Kao Gang Thai Sushi & Noodle Bar is a well-established Thai and Japanese concept operating at PGA Plaza, located at the high-traffic intersection of PGA Boulevard and Prosperity Farms Road in Palm Beach Gardens. The 2,100 SF space is currently operating as Kao Gang, a Thai sushi and noodle bar with strong reviews and a loyal local following — making it a proven, ready-to-convert opportunity for Ohho Noodles as a fast-casual noodle bar takeover. PGA Plaza is anchored by major national tenants and benefits from exceptional visibility along one of Palm Beach Gardens' busiest commercial corridors. The space is fully built out for Thai and Japanese cuisine, with an existing kitchen, sushi bar infrastructure, and dining room — dramatically reducing buildout time and cost. This is a rare chance to step into an operating Asian restaurant concept in one of the most affluent zip codes in Palm Beach County. DO NOT CONTACT OR TELL EMPLOYEES ANYTHING
THIS IS A POCKET LISTING

Deal Snapshot

  • 2,100 SF existing restaurant
  • 2626 PGA Blvd, Suite 114
  • PGA & Prosperity Farms Rd
  • Fully built-out Thai/Japanese kitchen
  • Sushi bar infrastructure in place
  • Proven concept with strong reviews
  • PGA Plaza — high-traffic corridor
  • Avg. HHI $150K+ trade area
Coming Soon — Palm Beach Gardens, FL

Moon Thai & Japanese — Avenir Town Center (phase 2 alternative to Coconut)

Avenir Town Center is Palm Beach Gardens' most ambitious new destination — approved for 200,000 SF of curated retail and 1.8 million SF of Class A office space, all set in a luxurious outdoor environment designed for day-to-night living. Already home to Publix, Walgreens, Seppe Pizza Bar, Smoke & Maple Gastropub, Sloan's Ice Cream, H&H Bagels, and more, the Town Center is rapidly becoming the dining and lifestyle hub of one of South Florida's fastest-growing master-planned communities. Moon Thai & Japanese will join this premier lineup, bringing bold Thai and Japanese flavors to the thousands of residents, professionals, and visitors who call Avenir home. With Somerset Academy on-site, 1.8M SF of offices nearby, and a thriving retail corridor already activated, this is one of the most compelling restaurant opportunities in Palm Beach County.

NOTE: a similar masterplanned community location with the same specs is available if this location is too close to others.

What's Coming

  • Opening Summer 2026
  • Located in Avenir Town Center
  • Northlake Blvd, Palm Beach Gardens
  • Full dine-in, bar & takeout
  • Private dining & events


Financial Overview — All 8 Locations

Expansion Budget — Total Capital Required

The table below outlines the estimated startup capital required to open all 8 new locations. Each location includes 6 months of rent or mortgage payments, a $275/SF buildout cost, kitchen buildout where needed ($400K for new builds), $50K for food & beverage inventory, and $100K for payroll per location for 6 months.

$10.09M

Total Capital Required

$1.6M

Kitchen Buildouts (4 locations)

$6.37M

Total Buildout Cost ($275/SF)

$800K

Payroll — 6 Months

* Little Havana includes $300K down payment toward property purchase. All locations include a $275/SF buildout cost. Rent estimates for Port St. Lucie / Tradition, PGA & Prosperity, Coconut Crossing, Tanger, and Avenir are market-rate estimates pending final lease negotiation. All figures represent startup capital for the first 6 months of operations.

Financial Outlook — All 8 Locations

Projected Revenue & ROI Timeline

Based on a $1,200/SF revenue assumption — consistent with Moon Thai's existing location performance — the 8 new locations are projected to generate a combined $27.80M in annual revenue. With total startup capital of $10.09M (including $275/SF buildout across all locations), full portfolio ROI is expected within approximately 7–8 months of full operations.

$27.80M

Combined Annual Revenue (8 Locations)

$10.09M

Total Startup Investment

~2.76x

Revenue-to-Investment Ratio

~26 Months

Average Payback Period

1

Month 1–2

Leases signed, permits filed, buildouts begin at new-kitchen locations

2

Month 3–6

2nd-gen locations open (Little Havana, Clematis, West Delray, PGA & Prosperity) — revenue begins after remodel

3

Month 6–9

New-build locations open (Shoppes at Heart of Tradition, PSL, Coconut Crossing, Tanger, Avenir) — full portfolio operational

4

Month 12+

All 8 locations at full run rate — $27.80M annual revenue. Combined monthly profit of ~$348K covers full $10.09M investment by ~Month 28.

* Revenue projections based on $1,200/SF assumption consistent with existing Moon Thai & Ohho Noodles performance. ROI/payback period calculated using a 15.47% net operating margin. All locations include $275/SF buildout cost. Actual results may vary.

Financial Outlook — Investor Returns

IRR & Cash Flow Analysis

The following analysis models the portfolio's Internal Rate of Return (IRR) based on a 15.47% net operating margin — a conservative benchmark for a well-run multi-unit restaurant group. Cash flows are modeled across a 36-month horizon reflecting the phased opening schedule.

~42%

Estimated Portfolio IRR (3-Year)

~28 Months

Full Capital Payback Period

$4.30M

Annual Net Income at Maturity (15.47% margin)

2.76x

Revenue-to-Investment Multiple

Key Assumptions & Sensitivities

Base Case (15.47% Margin)

Annual Revenue: $27.80M

Net Margin: 15.47%

Annual NOI: $4.30M

IRR: ~42%

Payback: ~28 months

Conservative Case (10% Margin)

Annual Revenue: $27.80M

Net Margin: 10%

Annual NOI: $2.78M

IRR: ~22%

Payback: ~44 months

Upside Case (20% Margin)

Annual Revenue: $27.80M

Net Margin: 20%

Annual NOI: $5.56M

IRR: ~58%

Payback: ~22 months

* IRR calculated using discounted cash flow model across 36-month horizon. Phased opening schedule assumes 4 second-generation locations open in Months 3–6 and 4 new-build locations open in Months 6–9. Net margin of 15.47% applied uniformly across all locations. Actual results may vary based on lease terms, labor costs, and ramp-up period.

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