Huge Price Reduced to $350,000 from $585,000. Seller may also be willing to carry a small portion of the sale to well qualified, experienced Buyers with good credit. It is currently impossible to build a new restaurant in the city of Monterey as only existing establishments may be allowed to be purchased, without exception. Therefore, Lallapalooza Restaurant & Bar represents a solid opportunity to purchase this long established restaurant & bar located in central Monterey along with the exceptional reputation as a dining experience for the many guests these past 23 years. Signature craft cocktails and 'Farm to Fork', chef driven menus with dry aged beef were their signatures. 23 years ago this Main Street Bank was converted into Lallapalooza restaurant, affectionately named "Lalla" by regulars. As you enter you are greeted by the 'tear' shaped bar seating 14 with further high top seating for 25 with colorful modern lighting & pictures. Temperature controlled craft beer with a full glycol system from the walk-in, modern POS system, glass washer, under-counter refrigeration and glass shelves of liquor. Glancing down the large dining room there is a combination of booth & table seating with temperature-controlled glass fronted wine room and show kitchen. Completely renovated in 2020 at a cost of $450,000, the restaurant now boasts a total seating of 120 in modern, colorful and stylish comfort. The kitchen is well equipped with a wood fired large pizza oven, wood fired steak broiler, 8 burner stove, flattop, salamander and walk-in plus all refrigerated worktops. The second-floor mezzanine houses the office, with a window view overlooking the dining room, large store room, and liquor/wine lock up. The favorable low monthly rent lease term has a further 10 years remaining at $12,000 monthly including NNN. The long list of assets in place, including the ABC type 47 hard liquor license are ready for an energetic new owner to relaunch and enjoy. To receive more information and discuss this opportunity with the broker along with the broker's connections for long term SBA loan solutions please complete the 'Non-Disclosure Agreement' on our website and we'll send you 6 years of financial information, lease & comprehensive list of equipment included with the sale. We'll also send you the Broker's direct contact information so you can discuss this opportunity in more detail.

General Info

  • OrganizationContact For Info
  • Established1997
  • Current Owner1997
  • EmployeesContact For Info
  • Reason For SaleOther Interests

Facilities

  • Seating120 + Patio
  • Square Feet4000
  • ParkingContact For Info
  • LicensesHealth, Business and ABC Type 47 Licenses
  • Open HoursContact For Info

Lease

  • Rent$12,000 Including NNN
  • ExpirationDecember 2024
  • Yearly IncreaseContact For Info
  • Option4 Year Option
  • Deposit$11,000

Financials

  • Monthly Revenue$146,000
  • Monthly Cash FlowContact For Info
  • Annual Revenue$1,751,000
  • Annual Cash FlowContact For Info
  • Payroll$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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