Historic Santa Barbara Restaurant & Bar w/Liquor!

Santa Barbara, CA (Santa Barbara County)

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Asking Price: $525,000

Cash Flow: $150,000

Gross Revenue: $2,036,261

EBITDA: $150,000

FF&E: $40,000

Inventory: $8,000*

Rent: $9,700 /Month

Established: 1938

*not included in asking price.

Historic Santa Barbara Restaurant & Bar w/Liquor!

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Business Description

This historic Santa Barbara restaurant and bar is available for acquisition for the first time in decades. The venue boasts a prime location with stable annual revenues and a diverse income stream. Due to its historic goodwill, coupled with its excellent street access and visibility, the venue does not rely on advertising to gain name recognition.

Detailed Information

Location:
Santa Barbara, CA
Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
3,500
Lease Expiration:
N/A
Employees:
45pt
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The 3,500 square foot facility has a spacious outdoor patio. It leases for $9,700 per month on a lease until 2019 with four 5 year options.
Competition:
While Santa Barbara has a number of hospitality options competing at a high level, few are able to match the storied history this venue enjoys. Its ambiance, style and character truly set it apart while its near landmark status cannot be matched.
Growth & Expansion:
New operators will not likely wish to modify an already proven winning formula. Rather, they may prefer to focus their efforts on optimizing operating efficiencies and bolstering the venue’s promotional initiatives and alternate revenues streams (e.g. take-out, delivery, catering, special events, etc.).
Support & Training:
2 Weeks at 20 hrs/wk
Reason for Selling:
Personal
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Michael Wildeveld, CBB, CBI, CM&AP, M&AMI, CEPA

Business Listed By:
Ryan Clark

The Veld Group

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Memberships & Certifications:
Indicates membership in The California Association of Business Brokers (CABB). The CABB Certified Business Broker (CBB) certification distinguishes its holder as a seasoned professional who has a solid educational background, proven accomplishments in completing deals, and an active membership in the CABB.

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