Restaurant & Bar With $2 Million Sales Making $225,000+ Year Profit Wth Seller Financing
San Mateo County, California
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Asking Price |
$395,000
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| Office Listing # | RECENTLY SOLD - 1179 |
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Revenue |
$166,600 / month
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Cash Flow |
$18,750 / month
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Lease Rent |
$12,500 vs. percentage
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Square Feet |
7,500 approx + outdoor seating area |
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Listing Description |
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This current unique restaurant bar and banquet room is being run absentee and a hands on owner operator could significantly increase sales and profits. This operation is in a unique location and has a captive market of customers built in due to its unique location. There is a large dining room, cocktail lounge and large banquet facility. Some of the equipment includes as follows: 2 walk-in refrigerators, walk-in freezer, 3 compartment sink, 3 hand sinks, 3 door under counter refrigerator + sandwich station, 11' & 12' type 1 hoods with fire suppression systems, 2 double basket fryers, 4 compartment steam table, 3' chargrill, 4' flat grill over oven, 6 burners over oven, 2 compartment pot sink, ice maker, 3' chargrill, 4 burners over oven, 4' flat grill, 4' beer box, under counter dishwasher, ice bin, 10 taps, 2 -3 door under counter refrigerators, 1 group espresso machine, 5' display refrigerator and 2 convection ovens. All of the above equipment is owned by the landlord and there is no charge to the operator for using it. The following equipment is owned by the seller: Aloha POS system with 2 terminals and 4 printers, dishwasher, slicer, rotary toaster, microwave, counter mixer, 2 holding ovens, 2 full door glass refrigerator, big screen TV and 3 - 32' TV's. There is also another smaller operation that includes a pot sink, microwave, cash register, 2 glass door refrigerator, hot dog maker, etc which is owned by the landlord as well and a cart which has a cold top. There are also storerooms, liquor storeroom and offices. Almost half of the sales come from banquet sales and there is a large upside for increased sales here too. The landlord which is the City of San Mateo will enter into a new lease with a qualified buyer with the following terms: 7 year base term with $12,500 month rent versus 8% of restaurant sales + 11% on banquet sales. There will also be a 5 year option. THE SALES PRICE IS NON-NEGOTIABLE ALTHOUGH THE SELLER WILL CARRY $195,000 IN FINANCING TO BE SECURED ON THE BUSINESS AND THE BUYERS REAL ESTATE. NO BROKER COOP
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General Information
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Organization: |
Sole Proprietorship
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Year Established: |
Contact For Info |
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Current Owners: |
Contact For Info |
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# of Employees: |
Contact For Info |
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Seating: |
Dining Room 75, Bar 10, Banquet Room 190 |
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Square Feet: |
7,500 approx + outdoor seating area |
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Parking: |
Parking lot |
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License(s): |
Business, ABC Type 47 (full liquor) |
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Day & Hours Open: |
7 / 5:30a-9p |
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Reason For Sale: |
Other interests |
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Financial Information |
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Revenue: |
$166,600 / month |
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Cash Flow: |
$18,750 / month |
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Payroll: |
Contact For Info |
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Inventory: |
Contact For Info |
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FF & E: |
Contact For Info |
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Lease Information |
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Lease: |
$12,500 vs. percentage |
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Expiration: |
7 years |
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Yearly Adjustment: |
CPI
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Option: |
5 years |
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Security Deposit: |
Not Available
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Financing Information: |
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Down Payment: |
Contact For Info |
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All Cash: |
Contact For Info |
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Note Balance: |
Contact For Info |
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Rate/Term of Note: |
Contact For Info |
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To access this webpage directly, use:
http://www.restaurants-for-sale.com/newsite/rro/listingview.asp?id=9279
Disclaimer
The information in this
listing has been provided by
the seller or broker stated
in the contact section of
the listing profile. As
such, Restaurants For Sale
Online, LLC has no claim in
the sale of this business
and has not independently
verified any of such
information and assumes no
responsibility for its
accuracy or completeness.
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