Asset Sale Former CHOPS Restaurant & Bar in Palladio Center

Folsom, CA (Sacramento County)

Excellent location right next to the Movie Theater

Asking Price:$125,000

Cash Flow:N/A

Gross Revenue:$1,300,000

EBITDA:N/A

FF&E:N/A

Inventory:N/A

Established:2012

Asset Sale Former CHOPS Restaurant & Bar in Palladio Center

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Business Description

We are pleased to offer this beautifully designed and fully equipped Restaurant and Bar to continue turn-key with its current identity or offered as a ready to go conversion. Chops Folsom closed in the end of June 2016 but all the F&E and the Full Liquor License are still in place.

The restaurant represents an incredibly cost effect entry into a high identity upscale retail location that attracts affluent customers from the surrounding area. The Palladio center is well known for having top tier retail tenants and restaurants and it acts as a cultural center for the community with year round events.

Chops Folsom was built-out and equipped with an investment of $1.2M just a few years ago with high quality design elements and fixtures throughout. The 5000sf space features an exhibition style kitchen, beautifully designed full liquor bar and casually elegant dining area. The interior is strikes a tasteful balance between modern design and comfortable elegance and is suitable for an easy conversion to any concept. The enclosed licensed patio offers customers another beautiful seating option with shade and twinkle lights.

The kitchen is fully equipped with a large hood/ansul, double walk-ins and all the equipment a professional chef would need. The restaurant is fully staffed and there is a great team in place in place in both the front and back of the house.

There is a lease through Jan 2022 and two 5 year options with scheduled rent.

The landlord has some minimum financial and experience requirements so please call us to discuss your background and interest.

We look forward to talking with you about this exciting opportunity for an experienced restaurateur!

Detailed Information

Employees:
25 Total, 8FT
Facilities:
Built out in 2012 with an investment of approx. $1.2Mil, Furniture & Equipment portion was approx. $377,000. The 5042sf space features an exhibition style kitchen, beautifully designed full liquor bar and casually elegant dining area. Seating for approx. 120 Dining Room + 40 Bar/Lounge area + 65 Exclusive Patio. Lease in place until Jan 2022 with Scheduled rent in the two 5 year options. Contact the Broker to discuss the Base rent, CAM/NNN .58/sf
Competition:
Top tier location within the Folsom Palladio Center which has entertainment venues and cultural events nearly year round.
Growth & Expansion:
Has been run Absentee to semi-Absentee in the past. The next owner could benefit from being more hands on. Would make an excellent conversion to any concept not already represented in the Palladio.
Support & Training:
This restaurant needs an Experienced Restaurateur to qualify for the lease transfer. Training if necessary is to be negotiated.
Reason for Selling:
Owners health requires the sale

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Tricia Bernhardt

Business Listed By:
Tricia Bernhardt

Restaurant eXchange

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