Santa Monica Restaurant w/Beer & Wine – Versatile Layout
Santa Monica, CA
| Asking Price: | $275,000 |
| Gross Revenue: | $1,977,339 |
| Rent: | $9,616/Month |
| FF&E: | $30,000 |
| Cash Flow: | $138,622 |
| Inventory: | $5,000 |
| EBITDA: | $138,622 |
| Established Year: | 2019 |
Listing ID: 2207664Listing provided by BizBuySell
BUSINESS DESCRIPTION
This stylish downtown Santa Monica restaurant with beer and wine boasts a highly versatile layout in a location with stellar foot traffic and street visibility. The restaurant’s staff is known for their excellent service, while the facility offers a chic ambiance with a relaxed vibe that may be adopted to any number of new concepts ranging from quick service to fast casual or fine dining. The business has a $150k EIDL loan that may potentially be assumed by a buyer in lieu of seller financing.
DETAILED INFORMATION
Location
Santa Monica, CA
Inventory
Not Included in asking price
Real Estate
Leased
Building SF
2,495
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
This 2,495 square foot venue leases for $8,116 per month, plus $1,500 in common area maintenance expenses (CAM) on a lease until 2024 with option to be determined. All of the business’s furniture, fixtures, equipment and Type 41 Beer and Wine License will be included in the sale. The name and menu will not be included. An estimated $5k in food and beverage inventory will be sold at cost at close.
Competition
Downtown Santa Monica is recognized for its vibrant culinary and entertainment scene, which naturally creates a highly competitive environment. However, despite this bustling landscape, this venue has managed to establish a niche and achieve profitability despite the challenges COVID presented shortly after its launch.
Growth & Expansion
While the venue’s name and menu is not included in the sale, current management has built the venue into a successful operation with a loyal following in the event the buyer has a similar concept or should they want to use the proven location to offer a wholly different type of fare.
Support & Training
Seller will train for 2 weeks at 20hrs/week or as negotiated
Reason for Selling
Personal
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