Established Restaurant/Bar; $3 Million+ Sales; $150,000 Profit

Designed Restaurant Bar in Popular Coastal City | $1m invested

Established Restaurant/Bar; $3 Million+ Sales; $150,000 Profit; Excellent Long Term Lease

RRC# 4918
Location: Central Coast

Description:
This uniquely designed restaurant bar is located in a popular coastal city and is handsomely designed and there is over $1 million invested in this facility. The seller wants to sell as he is involved in other projects and can't spend the time necessary to maximize this opportunity. There are two dining rooms, an outdoor seating area, a bar and cocktail lounge, full kitchen, prep kitchen and the facility can hold up to 200 people for special events. In the dining rooms there is a combination of banquette seating, booth seating and table and chairs and in the cocktail lounge there is a combination of bar height tables and bar stools and tables and chairs. There are attractive attractive hanging light fixtures, high ceilings and nicely finished floors throughout. Additionally there is an office area, storage area and ADA restrooms. Some of the equipment includes as follows: two (2) type 1 hoods with fire suppression systems, 6 burners over oven, 6 burners, 3' char grill, 3' flat grill + convection oven, 2 double basket fryers, full deck pizza oven, several ice wells, 3 - 3 compartment sinks, 10+ taps, 3 -2 door under counter refrigerators (1 with sandwich station),. 3 -3 door under counter refrigerators (1 with sandwich station), 3 glass door under counter refrigerator, 2 -2 compartment sinks, 2 utility sinks, POS system, 2 -3 door under counter refrigerators + sandwich stations, slicer, 4 - half door refrigerator, ice machine, counter mixer, microwave, 2 walk-in refrigerators, walk-in freezer, 2 hand sinks, dish washing sink + rinse hose, 2 food warmers and mop sink, etc. This operation is one of the few in the area that can serve alcohol to 2a daily. The lease has several 5 year options and each period is adjusted annually by the CPI with a minimum of one percent (1%) a year and a maximum of four percent (4%) per year so you can project your rent for many future years and the lease is assignable. Past sales in the past two years have been close to $3.5 million in sales per year with profits close to $500,000 per year. Sales and profits are down in 2024 due a slower economy, less tourism in the area and the uncertainty of the Presidential election. Consequently there is a large upside for increased sales and profits for an experienced hands on owner operator.

Financial Information:
Monthly Revenue: $250,000
Monthly Cash Flow: $12,500
Annual Revenue: $3000000
Annual Cash Flow: $150000

General Info:
Ownership: LLC
Established: Contact For Info
Employees: Contact For Info
Reason For Sale: Other Interests
Monthly Rent: $17,000 all inclusive
Expiration: 1 year plus 1 Five Year Option

Facilities:
Square Feet: 6,000+
Seating: 200
Parking: Street and public parking lots
Licenses: Business, ABC Type 47 License (hard liquor)
Days/Hours of Operation: 7 days: lunch, dinner