This is a unique opportunity to lease two established waterfront restaurants, three bars  and  extensive banquet facilities in a very unique location near a major city.  The banquet facilities include 9 separate venues ranging in size from 300 to 2400 square feet accommodating between 10 to 200 seats in various configurations.  There is also a full theater which can accommodate over 100 seats.  The restaurants enjoy a 180 degree view of the waterfront and each banquet facility has views of the waterfront as well.  Food and beverage sales in past years were as follows:  2016 - 2019 - $3.4 million each year;  2022 - $2.5 million and 2023 projected sales to be $2.6+ million.  The Alcohol Beverage Control (ABC) license is to be purchased at fair market value with the landlord having the first right of refusal to purchase it back at the end of tenants occupancy at fair market value.  A prospective lessee must have extensive operational experience and a strong financial background to be considered for this excellent opportunity.   

General Info

  • OrganizationCorporation
  • EstablishedContact for Info
  • Current OwnerContact for Info
  • EmployeesContact for Info
  • Reason For SaleOther Interests

Facilities

  • Seating(1) 131 + 48 outside;(2) 39 inside + 78 outside: (3) banquet rooms 648 seats
  • Square Feet22,000
  • ParkingParking lots, valet and street
  • LicensesBusiness, ABC Type 47 License
  • Open HoursContact for Info

Lease

  • Rent$15, 000 + NNN vs 6% on food sales & 8% on alcohol sales
  • Expiration5 years
  • Yearly IncreaseYearly increase at CPI with a min of 3% & Max 6%
  • Option5 years
  • DepositContact For Info

Financials

  • Monthly Revenue$217,000
  • Monthly Cash Flow$12,500
  • Annual Revenue$2,604,000
  • Annual Cash Flow$150,000
  • PayrollContact For Info

Financing

  • 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.

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