Excellent leasing opportunity for a freestanding restaurant, located on a major, high traffic boulevard surrounded by residential, commercial, industrial and hi-tech business areas. This is a corner location restaurant with excellent visibility, in a very attractive building. The premises is being offered with a very favorable long term lease and rent well under-market. Execution of the lease will be combined with a sale and transfer of the premises trade fixtures, furniture and equipment. A prospective tenant must be well qualified with previous restaurant operator experience. The successful business currently operating in this location generated $840,000 in gross sales for 2016. A prospective lessee may introduce their own menu and concept, or acquire the existing business name, menu and recipes included with the sale and transfer of the FF&E. The corner location property is approximately 5,200 sq ft, and the building street level footprint is an estimated 3,720 sq. ft., plus an additional 800 sq ft mezzanine for overflow seating, or as a venue for private parties, meetings and special events. There's easy access to the mezzanine both from the street level downstairs dining room, and from the kitchen and back of house areas. The dining room currently seats about 68, and the upstairs mezzanine will accommodate seating for approximately 50 guests. There's also additional seating in an outdoor patio area. The long downstairs bar can easily provide seating for an additional 15 customers. The behind bar area is equipped with a 3-compartment sink, ice machine, hand sink, and there's a private office at one end of the bar. The fully equipped kitchen is quite spacious with plenty of storage, and includes a separate quarry floor tiled pantry and prep. room area, with several reach-in refrigerators, prep sink and reach-in freezers. The line kitchen has quarry tiled flooring and features a 13' type one hood with recently serviced fire protection system, a combo 6-burner range and griddle with two ovens, 2-double fryers, a 2-burner gas sautí© station, stock pot burner and two refrigerated sandwich prep units. There is a separate dishwashing room with 3-compartment sink, hand sink and a single glassware & pot washing sink. The back of house has an employee restroom, several separate store rooms, and a covered outdoor area with additional refrigeration units and shelf storage. The restaurant's main entrance has a separate foyer reception area, two ADA restrooms, and the entire ground level customer area is wheelchair accessible. The Landlord is offering a 5 year gross lease, with beginning all inclusive monthly rent of $8,370, which comes out to $2.25 sq ft. This is a gross lease, so there are no NNN charges! Rent in year two of the lease will increase by 2%, and then 3% increases for years 3,4 & 5. Two 5-year options will be included, with option rent being negotiated at the end of the first 5-year term. Security deposit will be equal to one month's rent. The huge upside for a new tenant would be applying for an ABC 41 beer & wine license, or to bring in a type 47 full liquor license.

General Info

  • OrganizationContact For Info
  • Established2015
  • Current Owner2015
  • EmployeesContact For Info
  • Reason For SaleOther Interests

Facilities

  • Seating118 inside + outside patio
  • Square Feet3.720 + 800
  • ParkingStreet, parking lot
  • LicensesBusiness, Health Dept.
  • Open HoursDaily 10:30a-9p

Lease

  • Rent$8,370
  • Expiration5 years
  • Yearly IncreaseContact For Info
  • Option2 x Five year options
  • DepositContact For Info

Financials

  • Monthly Revenue$70,000
  • Monthly Cash FlowContact For Info
  • Annual Revenue$840,000
  • Annual Cash FlowContact For Info
  • PayrollContact For Info

Financing

  • Down Payment$Contact For Info
  • Note Balance$Contact For Info
  • Terms of NoteContact For Info
  • All CashContact For Info

DISCLAIMER: The above financial information was supplied by the seller and has not been verified by broker. Broker makes no representation about the accuracy or completeness of the information and does not guarantee future performance. It is the responsibility of a prospective buyer to make their own inspection of all financial and other business records, and to seek independent financial and legal counsel regarding any purchase of this business and/or real estate.

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