What hardware to purchase for MySQL server? Details below
This is really tiny. Test it on a machine you have already. Index the right fields and you should get significantly better than 1 second even on very basic hardware.
cpus - 1 - you are never going to be executing more than a query at once based on usage described
RAM 2G+, but probably not more than 6. Depends a bit on table index types.
Raid - basic low end mirror (RAID1).
Bandwidth - not much at all. You could do this on 64kbps probably.
On a small business, I wouldn't by buying hardware. Use a cloud service if the terms of data usage allows it.