Destination waterfront restaurant for sale on California's Central Coast. The restaurant is seafood-focused and well-established, with high reviews. It is ranked #1 of all restaurants in its area on Tripadvisor and Yelp. The restaurant has been operating since 1966, and has had two owners for the duration of its existence: the first owner, and the current owner. Both owners poured a tremendous amount of pride and effort into the business, and the result is a beautiful, highly regarded gem. With over 50 years in business, this restaurant has a very strong local following, business from out of town visitors, and a high rate of return clientele. The menu features freshly caught, local seafood and seasonal local produce. It has an extensive wine menu, in addition to offering cocktails. The restaurant has a Type 47 full liquor license. The restaurant has an outdoor deck area that is right on the water, and nearly all indoor seating has amazing views of the ocean. The décor is modern and well-maintained. For a prospective owner looking to make a lifestyle change, this restaurant offers an opportunity to purchase a successful business that is turnkey and profitable in a beautiful part of California. This restaurant has been pre-approved for an SBA business loan. Indoor seating of 50 at full capacity, plus an addition 14 in the bar area for a total of 64 and the outdoor seating can accommodate an additional 20. The revenue and cash flow below represent the 2021 figures which show the business has rebounded 100%, with being closed in January, revenue is consistent with 2019 figures. The lease is through 2032 and has an additional 10 year option giving the owner a long term lease which goes until the year 2042. The current owners have put a lot of TLC in this place and is waiting for the next owner to carry the torch. The condition of the space is like new, with three recent renovations.

General Info

  • OrganizationLLC
  • Established1966
  • Current Owner2007
  • EmployeesContact for Info
  • Reason For SaleOther Interests

Facilities

  • Seating50 Inside and 16 Outside
  • Square Feet1,765
  • ParkingStreet Parking and Public Lot
  • LicensesType 47 ABC License, Health and Business Permit
  • Open Hours11:30 am – 8:30 pm Daily

Lease

  • Rent$7,500
  • ExpirationDecember 2032
  • Yearly IncreaseYearly CPI Adjustment
  • Option10 Year Option (2042)
  • DepositContact for Info

Financials

  • Monthly Revenue$206,602
  • Monthly Cash Flow$31,016
  • Annual Revenue$2,427,231
  • Annual Cash Flow$372,193
  • Payroll$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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