Chef owner or energetic partnerships will thrive in this location, whether with a new concept or continuing the current menu! The location has been a favorite neighborhood restaurant, recently revamped with a nicely designed menu, concept, and fresh interior look, that targets all levels of the local demographic. The business improves upon the former concept, as evidenced by steadily climbing sales and popularity. The owner must concentrate on a demanding list of other restaurant projects, and is offering this attractively priced business as a busy, up and running operation. The main dining area has table & chair seating for 50, plus 6 seats at the chef's counter, and 6 at the bar. The restaurant has it's own dedicated outdoor terrace that seats an additional 40 guests, with umbrellas and a cozy fire pit. Weekend brunches, lunch and dinner with grilled meats and seafood, artisan pizzas, flatbreads and focaccia, and a host of other menu items are cooked at the exhibition style kitchen and gas fired brick oven; easily adapted to a wood fired unit. The ABC type 47 liquor license offers huge upside for cocktail service, to augment the premium wines and craft beers. All inclusive monthly rent for 1,656 sq. ft. restaurant premises, plus the roughly 300 sq ft area terrace, is $10,320, that breaks down to $7,967 base rent, $1,528 CAM, $214 insurance and $610 promotion fee for center promotions, marketing, events, etc. The business does not pay for water, sewer or garbage; these are covered in the CAM charge. Lease term runs until May 2020 with 3% rent annual increases, plus an assumable five year option, that continues with 3% annual increases. Rent for an optional 338 sq ft storeroom used for dry goods, beverages, etc. is $552 per month. An open line kitchen has the gas fired brick oven, a 8' type 1 hood, 6-burner sautí© unit, 2' char grill and 2' flat griddle, a double fryer, an electric flat griddle, stainless work tables, 4-drawer under counter fridge, 3-door pizza prep unit, and two 2-door sandwich prep units. The bar has two 2-door tap fridges, espresso machine & grinder, air pot brewer, 3- compartment bar sink, ice well and hand sink. A rear prep kitchen with a separate 10' type 1 hood, has two 2-door convection ovens, stock pot burner, plus there's a 60 qt. mixer, commercial slicer, electric food processing equipment, a 3-compartment sink, prep sink, hand sink and ample storage with wire rack wall shelving. All inclusive monthly rent for 1,656 sq. ft. restaurant premises, plus the estimated 300 sq ft area terrace, is $10,320, which breaks down to $7,967 base rent, $1,528 CAM, $214 insurance and $610 marketing and promotion for the center. CAM covers water, sewer and garbage for the restaurant. Lease term runs until May 2020 with 3% rent annual increases, and an assumable five year option, which continues with 3% annual increases. A optional 338 sq ft storeroom for dry goods, beverages, etc. is $552 month. The business name, menu, recipes, equipment, type 47 liquor license, tenant improvements, etc. are all included. Buyers may also bring their own concept and purchase the premises assets, liquor license, leasehold improvements and assume the lease and rent terms. For a qualified buyer, the seller may finance a small portion of the purchase price.

General Info

  • OrganizationContact For Info
  • EstablishedContact For Info
  • Current OwnerContact For Info
  • EmployeesContact For Info
  • Reason For SaleOther Interests

Facilities

  • Seating66 inside, 40 outside
  • Square Feet1,656 + 338 storage + patio
  • ParkingStreet, Customer Parking lot.
  • LicensesBusiness, ABC Type 47 Liquor License
  • Open HoursDaily 11a-10p

Lease

  • Rent$10,320 all inclusive
  • Expiration20-May
  • Yearly Increase3% for current term & option
  • Option5 years
  • Deposit$4,140

Financials

  • Monthly Revenue$98,000
  • Monthly Cash FlowContact For Info
  • Annual Revenue$1,176,000
  • 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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