Only 15% down to purchase this highly profitable, long established restaurant/bar. See Listing #3955 for the sister restaurant by the same name which is also for sale. Seller will negotiate price if Buyer purchases both restaurants. It's impossible to build a new restaurant in the city of Monterey and only existing establishments may be allowed to be purchased & converted, that's without exception. Therefore this is an opportunity to purchase these 2 Icon restaurants in Monterey with combined annualized 2021 revenues exceeding $8 million with profits of $1.1million. One established in 2007 the other in 2014 and both in superb locations each with ABC Type 47 hard liquor licenses & large bar areas. 5,200 sq ft restaurant with the addition of a 1500 sq ft Patio, the other 6200 sq ft with spectacular views of Monterey Bay.    Modern kitchens and both with Type 1 Hoods and fire suppression systems and a long list of equipment each restaurant with seating capacity in excess of 200. The owner would prefer to sell together but would discuss separate purchases. Locations are within easy drive of one another allowing the current owner to manage these businesses with the assistance of key, well-trained,  long-term employees & a General manager in place for each establishment. Good revenues and provable cash-flow with full books and records to verify the financials are available to well qualified, well financed interested parties.   This is a highly confidential listing, therefore to receive more information and discuss these long-established businesses with the broker along with the broker's connections for long-term SBA financing please complete the 'Non-Disclosure Agreement' on our website and we'll contact you to discuss before sending the name and address, the full financial information, leases & comprehensive list of equipment included with the sale. There are favorable long lease terms in place with huge lists of assets, including ABC type 47 hard liquor license on each are ready for an energetic new owner to enjoy. No Broker Coop.

General Info

  • OrganizationInc
  • Established2007
  • Current Owner2007
  • Employees75
  • Reason For SaleOther Interests

Facilities

  • Seating200+
  • Square Feet5258 Indoors + 1500 Patio
  • Parking100+
  • LicensesHealth, Business & ABC Type 47 Licenses
  • Open Hours11am - 10pm Daily

Lease

  • Rent$17,270 or 5%
  • Expiration2023
  • Yearly Increase3%
  • OptionOne 5 yr option
  • Deposit$0

Financials

  • Monthly Revenue$330,000
  • Monthly Cash Flow$51,500
  • Annual Revenue$4,000,000
  • Annual Cash Flow$618,000
  • Payroll$$82,250

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.

Location