This is a unique opportunity to lease a waterfront restaurant and bar with outdoor seating located at 215 Esplanade, Capitola. Past years sales have averaged between $3.3 Million to $3.6 Million. Restaurant sales are 65% of total sales and alcohol sales are 35% of total sales. The restaurant has a couple dining areas with a combination of tables and chairs and banquette seating, a separate bar area with bar stools and cocktail tables, an alcove adjacent to the bar with 6 additional bar stools with a fireplace plus an outdoor seating area with heaters and torches which overlooks the water. The floors are a combination of stone and wood and the ocean is visible from the bar and patio and there are unique windows which open to the ocean. Some of the equipment includes as follows: 14' type 1 hood with fire suppression system, 6 burners over oven, 3' salamander, 3' char grill, 4' flat grill + 2 double basket fryers over 6 under counter refrigerator drawers, 4 -2 door under counter refrigerators (3 with cold tops), 3 compartment steam table, panini press, 3 walk-in refrigerators, 4 hand sinks, counter model mixer, slicer, 2 full door freezer, 1 & 2 compartment soup warmers, ice machine, 3 busser stations, POS system, 1 group espresso machine, coffee maker, coffee grinder, 2 compartment sink, full door freezer, employee lockers, 2 ice bins, 12 taps, 2 - 3 glass door under counter refrigerators and 1 door under counter refrigerator, etc. There are several storage areas including liquor storage, wine storage and general food and supplies storage. There are two offices, an employee changing area and break room, an employee bathroom and 2 ADA restrooms. The current owners have operated this business for 22 years and new operators with a new menu and concept could increase the sales of this business significantly. The business is currently closed due to the pandemic. The lessee would purchase the ABC Type 47 license at the current market price and there is approximately $60,000 of wine inventory at cost that is available to purchase if the lessee desires. The building is also available with the business and see listing 3720 for further information. Please note we do have a prospective buyer for the building that would lease out the restaurant per the terms indicated in this profile and such lease opportunity is subject to the buyer buying the building unless the lessee of this business would also like to purchase the building. For further information please contact Steve Zimmerman at steve@restaurantrealty.com or 415-720-5468.

General Info

  • OrganizationContact For Info
  • EstablishedContact For Info
  • Current Owner1998
  • EmployeesContact For Info
  • Reason For SaleOther Interests

Facilities

  • Seating100 inside + 46 outside
  • Square Feet4400 including outdoor seating area
  • ParkingStreet
  • LicensesBusiness, ABC Type 47
  • Open HoursContact For Info

Lease

  • Rent$16,720 + NNN
  • Expiration5 years
  • Yearly Increase3%
  • Option5 years
  • DepositNegotiable

Financials

  • Monthly Revenue$275,000
  • Monthly Cash FlowContact For Info
  • Annual Revenue$3,300,000
  • Annual Cash FlowContact For Info
  • Payroll$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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