What is this restaurant business worth?

[Larry Flanagan]

I'm looking at buying an established restaurant franchise that has been around for 6 years. There is a well-compensated manager in place who handles day to day operations. Owner is absentee and has weekly conference calls with manager and visits site every month or two. I am local but would keep the manager, I dont want to buy myself a job. Sales are steady near $850k/yr. NOI after paying manager is steady near $65,000/yr. Average location in an average retail strip center, interior build out is above-average. There is a business broker involved, they are indicating bank would loan 70% of price, seller will finance 15% so 15% cash down required. Any input?