Well-established, popular seafood restaurant and bar in a coastal city of San Mateo County for sale. The restaurant is located on a main street and enjoys high visibility. It has been in operation for 30 years, and is a favorite among locals and tourists. The current owners took over the space in 2018, and have made updates to the interior and exterior since then. This restaurant holds an ABC type 47 full liquor license. The restaurant seats 110 inside and 60 outdoor on the patio. The restaurant serves classic, beloved seafood dishes and has high reviews on Yelp, Google, and Trip Advisor. The restaurant's atmosphere is fun and family friendly, and it is close to the beach and other local attractions. The business is pre-approved for an SBA loan and has a track record of financial success including the pandemic year. The sales for 2021 show a 20% increase over 2019, with strong profits year after year. A full equipment list and financial package is available upon request.

General Info

  • OrganizationLLC
  • Established1992
  • Current Owner2018
  • EmployeesContact for Info
  • Reason For SaleOther Interests

Facilities

  • SeatingInside 110 / Outside 60
  • Square Feet5,000
  • ParkingParking Lot
  • LicensesType 47 ABC License, Business and Health Permit
  • Open Hours11:30am - 8pm Daily

Lease

  • Rent$7,500 All Inclusive
  • ExpirationAugust 2023
  • Yearly IncreaseCost of Living Increase
  • OptionTwo 5 Year Options
  • Deposit$10,000

Financials

  • Monthly Revenue$242,937
  • Monthly Cash Flow$35,499
  • Annual Revenue$2,915,248
  • Annual Cash Flow$425,996
  • Payroll$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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