Live your Chef's dream and take over this iconic Italian-American Cafe that has thrived for over 90 years, and 30 years at this location. On the precipice of retirement due to health reasons, this well known Chef/owner is ready to pass the torch and train a new owner. The Owner has built his wealth from this business and now a new hungry Chef or Owner can too!
A new Chef or Owner can ride the success of this concept that runs like clockwork, in this great space with an open kitchen floor plan. Its South of Market location boasts little to now competition for this style of cafe or concept. A new owner can bring their own energy and skills to the existing concept and watch their earnings grow.
The popular concept still gets national recognition on syndicated TV cooking shows such as, Diners DriveIns & Dives, Mystery Diner and Check Please!!! All of the brand recognition, free advertisement and extensive GOODWILL is included in the sale. Additionally, the new owner will retain a nearly 6000 customer/client Email List.
The restaurant currently serves breakfast, lunch and dinner, and also thrives from catering and group events. The open kitchen and equipment is immaculately maintained, and there is a large basement area for food prep, storage, work space and even a private office.
There was a major remodel done in 2009 that cost over half $500,000. A second bathroom was added, although not required. The space is ADA compliant. The grease trap is like-new. There is a 13' Type 1 Hood, and an extensive amount of equipment, furniture and fixtures included. A full equipment list can be provided upon request.
The business averaged over $1,600,000 in sales pre-pandemic and is already climbing back up to roughly $1,200,000 now, with a strong Seller Discretionary Earning annually. Owner's Discretionary Earnings was over $43K in Quarter One 2023, volume sales were up $50,000 from Quarter One 2022 to 2023!!
A new owner will also get the benefit of an amazing new inclusive Gross Lease at $8500/month. This includes the tenants pro-rata share of insurances and taxes and common area maintenance! A comparable Triple Net lease in the area could be thousands more per month. Also, the Landlord is the Seller who owns the building, thus the new tenant will get to deal with a level and like-minded restaurant landlord rather than a large or greedy Corporate Landlord. The lease can also include "FIRST RIGHT OF OFFER" to buy the building, when the owner chooses to sell.
This is the CHEF's DREAM: a rare opportunity to own an iconic and beloved SF Italian concept, in a great space and location, with a strong new lease and the opportunity to own a building in SF in the future!!! Call or email now and don't miss out...
- OrganizationSole Proprietorship
- Current Owner1991
- Reason For SaleRetirement
- Seating49 permitted, seats closer to 60, plus sidewalk tables
- Square Feet2,350 (600 basement, 200 office)
- ParkingStreet Parking
- LicensesType 41 ABC Beer & Wine, Health, Business
- Open Hours9am-2pm & 4pm-9pm (closed Mondays)
- Rent$8,500 Gross/Inclusive
- ExpirationNew Lease will be Created
- Yearly Increase3-4%
- OptionNew Lease, option(s) available
- DepositNegotiable, 2 months rent
- Monthly Revenue$100,000 +/-
- Monthly Cash FlowContact for Info
- Annual RevenueContact For Info
- Annual Cash FlowContact for Info
- Payroll$36,500 +/-
- Down PaymentContact For Info
- Note BalanceContact 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.