Waterfront Steak/Seafood Iconic Restaurant and Lounge

Kennewick, WA (Benton County)

Waterfront Steak/Seafood Iconic Restaurant and Lounge

Asking Price:$2,700,000

Cash Flow:N/A

Gross Revenue:$2,000,000

EBITDA:N/A

FF&E:N/A

Inventory:N/A

Rate/Sq. Ft.:N/A

Established:1976

Waterfront Steak/Seafood Iconic Restaurant and Lounge

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Business Description

Prime Columbia River frontage location in SE Washington

This marina district location is one of a kind with nothing comparable available on the Columbia River waterfront. Opened in 1976 and completely remodeled with a $2+ million remodel in 1999. Building is fully ADA and code compliant. This 9,035 sq. ft. restaurant and cocktail lounge has a 40 year customer base, large outdoor riverside lounge patio and separate dining patio, large rock wood burning fireplace in the lounge, and open solid wood beam construction, a 200 ft. concrete float dock in front for boat access. Menu is steaks, prime rib, seafood, poultry, and pasta, with salad bar. Lounge is full service with liquor, wine, and beer. Located 11 minutes from the airport, neighboring is a 4 story hotel next door. Ample parking on leased private lot with 25 years remaining on transferable or renegotiable land leased from the Port of Kennewick.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building Sq. Ft.:
9,035
Lease Expiration:
11/30/2040
Employees:
30-40
Facilities:
Includes building, fixtures, equipment, and inventories. Seating for 250 inside and 120 outside on the waterfront patios. 24 years remaining on transferable or renegotiable land lease.
Competition:
Competion includes a 4 story hotel next door and a small brew pub across the street. The Port of Kennewick and city are currently developing the 12.6 acre Columbia Gardens Wine Villiage just off the island. We encourage you to visit their website at portofkennewick.org for more information.
Growth & Expansion:
Located in the heart of Washington wine country. Area has a strong economy with tourism, wine, agriculture, and nuclear industries. Lot has room for expansion for possible brewery or wine making facilities. Currently serving dinner hours only. Prime location for lunch service if desired.
Financing:
Current mortgage balance is assumable OAC. Serious inquiries only please.
Support & Training:
Training negotiable upon sales terms. Business is fully managed and staffed, and operates 7 nights a week for lounge and dinner. Some staff members have been here over 25 years, with many over 10 years.Great location for lunch service if desired.
Reason for Selling:
Retire after 45 years in restaurant industry
Business Website:
http://cedarskennewick.com

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Business Listed By:
Dave Mitcham

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