This well known establishment has been a San Diego favorite for over 40 years and is centrally located in San Diego between the 805 and 15 freeways with freeway exposure, highly visible signage, and surrounded by corporate office buildings. Over $700,000 of interior refurbishment has been completed by the owner. Reminiscent of a classic Chicago-style steakhouse, this opportunity features only the finest quality mid-western aged steaks and chops, charbroiled to perfection over a mesquite wood-fire grill. In addition to the USDA Choice & Prime beef steak, the extensive menu also is highlighted by Angus Prime Rib, slow-roasted to retain its tender juiciness, as well as veal, chicken, lobster tail, king crab legs and shrimp entrees.In addition to the USDA Choice & Prime beef steak, the extensive menu also is highlighted by Angus Prime Rib, slow-roasted to retain its tender juiciness, as well as veal, chicken, lobster tail, king crab legs and shrimp entrees. The establishment offers three main restaurant rooms and two banquet rooms accommodating up to 400 guests. A large fireplace enhances one of the more popular seating areas. The main banquet room seats 180 with its own bar, rest rooms, separate entrance, and a large dance floor. There is lots of carved glass and fine woodwork throughout the restaurant as well as a built-in mahogany and glass wine armoire accommodating more than 100 wine bottles. The ABC 47 license is included in the sale price. A partial list of the furniture, fixtures, and equipment also included in the sale follows: Walk-in Cooler 7.5'x11'x7'; Produce Walk-in Cooler 10.5'x15.x8'; Meat Case; (3) Kitchen Exhaust Hood systems; (3) Fire Suppression systems; Built-in Under-counter frig with 6 drawers and 2 door reach in; Free standing Dean gas fired deep fryer; Dean countertop gas fired deep fryer; U.S. Range stove with 6 burners; (2) Double Ultrasham Slow Cookers; Imperial double door oven; Baker's Pride Double door oven; Wolf Oven with 4 top burners; refrigerator utility table with 6 drawers; Wolf stove top with 6 burners; Wolf salamander; Gas Griddle top; Large wood fired broiler; gas steam table with cutting board and shelf; True Reach-in refrigerator; Wells bread and baked potato warmer; Hobart meat slicer; (2) (2) Upright reach-in freezers; Butcher Boy meat saw; Ice cream freezer; (2) three compartment sinks; one and two compartment sinks; (18) Metro shelving; Manitovac Ice machine; (2) Dairy Fulsa reach-in refrigerators; Grease trap; Cres-Cor slow cooker; Upright reach-in cooler; Bevels food warmer; (36) booths; (13) bar stools; (12) square tables; (4) backless stools; (46) chairs; (22) 6' round tables; 220 stacking chairs; electric glass washer; capuccino machine; 3-door reach-in cooler; (6) Partner Avaya phone system; DVR security system with (16) cameras; Aloha POS with (6) terminals; large safe; (2) TV's; 100 gallon water heater; misc. utensils, work tables, shelving, glassware, flatware, appliances, and more. Back of the house appointment only after execution and approval of the NDA. Do not disturb employees as they are unaware of sale. Cash sale only. Offers must be accompanied by proof of funds, Pre-qualification letter from lender, completed sellers financial application, and approval by seller of buyer's credit worthiness. Landlord is currently in negotiations for a lease extension at attractive terms. Tenant pays base rent, annual property taxes, all utilities, and repairs and maintenance to the premises. Lease assignment is subject to Landlord's approval.

General Info

  • OrganizationContact For Info
  • Established1977
  • Current Owner1998
  • EmployeesFT (14) PT (43)
  • Reason For SaleRetirement

Facilities

  • Seating180 Main Dining; 120 (2) Banquet Rooms
  • Square Feet8841
  • Parking67 on site with valet stand.
  • LicensesABC 47; County Health Dept.; City Business Permit.
  • Open HoursLunch: M-F 11a-4p Dinner: Sun-Th 4p-9:30p; Fri-Sat 4p-10:30p

Lease

  • Rent16046 Base rent + Annual property taxes of 222120+ CAM
  • Expiration11/20/2018
  • Yearly IncreaseContact For Info
  • OptionNone.
  • Deposit$10000

Financials

  • Monthly Revenue$242,779
  • Monthly Cash Flow$17,929
  • Annual Revenue$2,913,350
  • Annual Cash Flow$215,147
  • 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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