Spectacular Bayview Restaurant located on one of California's most beautiful coastlines. This is a rare opportunity to operate your own restaurant business after 20+ years in the current ownership, especially as it's impossible to build a new restaurant in the city of Monterey and only existing establishments may be allowed to be purchased and operated, that's without exception. Monterey's present-day attractions include the Monterey Bay Aquarium, Cannery Row, Fisherman's Wharf, California Roots Music and Arts Festival, and the annual Monterey Jazz Festival. Monterey County is also home to Big Sur, Carmel-by-the-Sea, Pacific Grove, and a thriving wine country.
This Restaurant is situated in a prime location in one of the most highly traveled tourist attractions on the Central Coast with approximately 1,500 sq ft indoors with seating for 40 and a large outdoor patio seating 50 and......... "Those Views". The kitchen is small but well-equipped and fully capable of pushing out high volume, quality food to a discerning clientele while the appealing reclaimed wood dining room décor with window views from every table and polished wood floor gives the comfort & elegance matched only by the quality of the food and wine.
Low low rent at 6% of sales with annual revenues touching $1million and an owner's income of $275,000 priced to purchase at $585,000 for an entrepreneur Buyer to snap up. New systems and procedures were implemented in 2020, leading to record-breaking sales for 2020 and 2021 year to date. On track to have their highest year of sales in the restaurant's history for 2021, even though they were closed for 4 months. No 'To Go" orders were even offered (like many restaurants had seen during the pandemic) as they had more than enough business from their regular customers.
Only 15% down to purchase this quality, highly profitable, long-established restaurant with full SBA pre-approval on a 10-year loan. Currently owner managed with 15 employees, open 6 days per week with the assistance of key, well-trained, long-term employees in place. 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 the lists of assets ready for an energetic new owner to enjoy.
No Broker Coop.
- Current Owner2000
- Reason For SaleRetirement
- Square Feet1,500 Indoors + 1,500 Patio
- ParkingPublic Parking
- LicensesABC Type 41, Health Permit & Business License
- Open Hours12.00pm - 9.30pm Daily - Closed on Wednesdays
- Rent$3,150 or 6%
- Yearly IncreaseContact for Info
- Monthly Revenue$75,805
- Monthly Cash Flow$22,822
- Annual Revenue$909,658
- Annual Cash Flow$273,866
- Down Payment$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.