This business has been pre-approved for an SBA loan so with 20% cash down the bank will finance 80% of the purchase price.  This established restaurant is in a high end demographic location and operates only for dinner five nights a week and is an excellent opportunity for an owner operator.  There is upside for an additional two days of business plus lunch 5 days a week and brunch on the weekends but for lifestyle reasons the owners have chosen the limited hours it operates.  The restaurant has an excellent reputation and each years' sales and profit have increased. 2019 - Sales $884,537, Profit $205,000;  2020 - Sales $1,133,162, Profit $299,178; 2021 projected based on sales and profits through 9/22/21 - Sales - $1.4 Million, Profit - $380,000.  The restaurant has a very charming intimate décor that has an open airy feeling with a high ceiling, skylight, ceiling fans and a comfortable dining room including tables and chairs and banquette seating.  There is also a good sized enclosed open patio with outdoor heaters which is used almost all year round.  There is also a full kitchen, storage room, liquor storage room and ADA bathrooms.  Some of the equipment includes as follows:  9' type 1 hood with fire suppression system, 12 burners over 2 ovens, 3-2 door under counter refrigerators (1 with sandwich station + 1 with 3 taps), 2 - 2 full door refrigerators, slicer, utility sink, counter mixer, 3 door under counter refrigerator + sandwich station, 2 compartment sink, dishwashing sink + rinse hose, dishwasher, Robot Coupe, ice cream machine, 2 full door glass wine refrigerator, POS system, 3 coffee grinders, single unit coffee maker, 2 group espresso machine, ice machine, 5 employee lockers, 2 door freezer, drop-in freezer and1 door under counter freezer, etc.  There is currently 3 years remaining on lease with 2 four-year options.

General Info

  • OrganizationSole Proprietorship
  • Established20 years
  • Current OwnerContact for Info
  • EmployeesContact for Info
  • Reason For SaleOther Interests

Facilities

  • Seating49 inside + 47 outside
  • Square Feet1,380 + 800 enclosed patio
  • ParkingStreet
  • LicensesBusiness, ABC Type 41 (beer & wine)
  • Open HoursDinner Only Tues-Sat; Closed Sun & Mon

Lease

  • Rent$6,989
  • Expiration2/2024
  • Yearly IncreaseContact for Info
  • Option2 - 4 year options
  • DepositContact for Info

Financials

  • Monthly Revenue$116,670
  • Monthly Cash Flow$31,660
  • Annual Revenue$1,400,000
  • Annual Cash Flow$380,000
  • Payroll$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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