This is a unique opportunity to purchase a remodeled oceanfront restaurant and bar plus REAL ESTATE. This opportunity has been pre-approved by an SBA Lender for a $2,542,000 loan fully amortized over 25 years. So with $353,000 (approx 12% of the sales price) this property and business can be purchased. This building was totally remodeled in 2014 at a cost of $500,000. There is lots of upside for increased sales and profits as the restaurant is not open for lunch or brunch and because of its unique location on the beach these meal periods could be high sales volume periods. The business includes an outdoor patio with service bar, umbrellas and waterproof heaters, a separate bar area, comfortable dining room and full kitchen. You can see the ocean from most every seat in the building. Some of the equipment includes as follows: 14' type 1 hood with fire suppression system, steamer, 2 - 6 burner units over ovens, 2 double basket fryers, 3' char grill, 2 adjustable broilers, 2-2 full door refrigerators, full door refrigerator, 1 door undercounter refrigerator, 2 bread drawer warmers, 4 door undercounter refrigerators (1 with 2 taps & 1 with sandwich station), 3 hand sinks, 2 ice bins, juicer, slicer, POS system, ice machine, 2 full door glass refrigerator, utility sink, 1 door undercounter freezer, 2 compartment sink + rinse hose, 15 employee lockers, 2 walkin refrigerators and walk in freezer, etc. There are also several storage areas, 2 ADA restrooms and the business is entirely ADA accessible.. This is an excellent opportunity for a hands on owner operator that also wants to be their own landlord and control their destiny for the future.

General Info

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

Facilities

  • Seating152 inside + 50 outside
  • Square Feet4,000 building; 6,000 lot
  • ParkingLarge parking lot
  • LicensesBusiness, ABC Type 47 (hard liquor)
  • Open HoursContact For Info

Lease

  • RentContact for Info
  • ExpirationContact For Info
  • Yearly IncreaseContact For Info
  • OptionContact For Info
  • DepositContact For Info

Financials

  • Monthly Revenue$159,398
  • Monthly Cash Flow$18,214
  • Annual Revenue$1,912,777
  • Annual Cash Flow$218,575
  • Payroll$Contact For Info

Financing

  • Down Payment$$353,000
  • Note Balance$$2,542,000
  • Terms of Note25 year amortization
  • 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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