Seller Financing Available
Restaurant. Dntn. Los Gatos. Fully equipped. 19 year lease. low rent
Asset Sale Description
** This is an "Asset Sale", where the value is in the Build-Out, Licenses & Permits, Fixtures & Equipment, Location, and 19 year Lease**
**BUYER MUST OWN OR HAVE RESTAURANT MANAGEMENT EXPERIENCE** HIGHLIGHTS Bring your own concept. A rare opportunity to purchase a fully equipped restaurant WITH OUTSIDE PATIO SEATING!! To open a restaurant in Los Gatos, you have to buy out another one. They do not issue new restaurant permits. Located on one of the most sought after locations in the Bay Area. Everything you need is already in place. Fully equipped with a 12 foot hood, large grease trap walk-in Fridge and Freezer, and all of the other equipment needed for just about any type of restaurant. COMPLETE REMODEL "Over $150,000 spent on a complete remodeled in both the kitchen, bathroom, dining area, and front patio very recently. Everything is up to code. Improvement include: • fully permitted patio • Everything is ADA complacent • New floor • Added brick wall • New ceiling • Sprinkler system • Enlarged windows in front • Completely rebuild the bar • All wires for wifi and POS • All new custom tables, chairs, and benches. • All new bathroom with tile, paint , sink , fan , lights • Up to code ansle system plus service every 6 months • Professional hood cleaning every 6 months • Professional grease trap cleaning every 3 months • Wine storage room MARKET VALUE: The $295K Price is a steal based on the following values associated with the restaurant: $350,000 Buildout with new remodel. Everything up to code $75,000 Equipment- all new or completely refurbished. $25,000 Restaurant License $30,000 Front Patio Seating- a rare commodity for Los Gatos. $100,000 19 year lease, low rent, 2% increases- huge long-term savings vs. market rate.
Facilities: Downtown prime location.
1,580 sq.ft. + patio.
Seats 45 inside + 14 outside
Fully Equipped full-service restaurant with large kitchen
Long 19 year lease with below market rent and only 2% annual increases!
Financing: $200,000 SBA loan approved
Support & Training: N/A -Asset Sale- bring your own concept
Reason for Selling: Seller has other businesses. Needs time for them
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