This high volume restaurant and bar is located in an iconic building in a coastal town. Established for about twenty years, it has developed a loyal following. Sales have averaged nearly $1.5MM with 83% of revenue generated from bar sales. It has over two dozen beers on tap and large selection of spirits. It's become a popular venue for private parties and weddings. It has a fully equipped kitchen that is open until midnight. A new lease is available. The seller is winding down after years in the industry and is willing to take a note for 50% of the price for a qualified buyer. This would be a great opportunity for an experienced operator looking for an established operation with some upside. Some of the equipment includes as follows: 12' type 1 hood with fire suppression system, 2 double basket fryers, 3' char grill, 10 burners over 2 ovens, counter mixer, dishwasher, 2 compartment sink with rinse hose, utility sink, walk-in refrigerator, 2 compartment sink, 3 door under counter refrigerator + sandwich station, 2 -2 full door refrigerator, 2 -2 door under counter refrigerators (1 with sandwich station), ice machine, coffee maker, POS system, 3 ice bins, 33 taps, 2 -3 compartment sinks and 3 & 4 door under counter refrigerators, etc. There is also an office area, prep kitchen, storage and 2 restrooms. NO BROKER COOP.

General Info

  • OrganizationSole Proprietorship
  • EstablishedContact For Info
  • Current OwnerContact For Info
  • EmployeesContact For Info
  • Reason For SaleOther Interests

Facilities

  • Seating150 + approx
  • Square Feet4,229
  • ParkingStreet
  • LicensesBusiness, ABC Type 47 (hard liquor)
  • Open Hours7 / 5pm - 1:30a

Lease

  • Rent$10,000 all inclusive
  • ExpirationNegotiable
  • Yearly IncreaseNegotiable
  • Option5 yr + (1) 5 yr option
  • DepositContact For Info

Financials

  • Monthly Revenue$123,789
  • Monthly Cash Flow$6,682
  • Annual Revenue$1,485,465
  • Annual Cash Flow$80,184
  • Payroll$Contact 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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