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Ocean Front Restaurant/Bar + REAL ESTATE; $1.9 Million Sales

Monterey County, CA

Ocean Front Restaurant/Bar + REAL ESTATE; $1.9 Million Sales
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Asking Price: $2,895,000

Cash Flow: $218,575

Gross Revenue: $1,912,777

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Established: N/A

Ocean Front Restaurant/Bar + REAL ESTATE; $1.9 Million Sales

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Business Description

Ocean Front Restaurant/Bar + REAL ESTATE; $1.9 Million Sales; $218K Profit; SBA Loan Pre-Approved

RRC#: 3375
Asking Price: Offered At $2,895,000
Location: Monterey County
Annual Revenue: $1,912,777
Annual Cash Flow: $218,575
Monthly Rent: Contact for Info

Listing Description:
This is a unique opportunity to purchase a remodeled oceanfront restaurant and bar plus REAL ESTATE. This opportunity has been pre-approved by an SBA Lender for a $2,542,000 loan fully amortized over 25 years. So with $353,000 (approx 12% of the sales price) this property and business can be purchased. This building was totally remodeled in 2014 at a cost of $500,000. There is lots of upside for increased sales and profits as the restaurant is not open for lunch or brunch and because of its unique location on the beach these meal periods could be high sales volume periods. The business includes an outdoor patio with service bar, umbrellas and waterproof heaters, a separate bar area, comfortable dining room and full kitchen. You can see the ocean from most every seat in the building. Some of the equipment includes as follows: 14' type 1 hood with fire suppression system, steamer, 2 – 6 burner units over ovens, 2 double basket fryers, 3' char grill, 2 adjustable broilers, 2-2 full door refrigerators, full door refrigerator, 1 door undercounter refrigerator, 2 bread drawer warmers, 4 door undercounter refrigerators (1 with 2 taps & 1 with sandwich station), 3 hand sinks, 2 ice bins, juicer, slicer, POS system, ice machine, 2 full door glass refrigerator, utility sink, 1 door undercounter freezer, 2 compartment sink + rinse hose, 15 employee lockers, 2 walkin refrigerators and walk in freezer, etc. There are also several storage areas, 2 ADA restrooms and the business is entirely ADA accessible.. This is an excellent opportunity for a hands on owner operator that also wants to be their own landlord and control their destiny for the future.

General Information:
Organization: Corporation
Established: Contact For Info
Current Owner: Contact For Info
Employees: Contact For Info
Reason For Sale: Other Interests

Financial Information:
Monthly Revenue: $159,398
Monthly Cash Flow: $18,214
Annual Revenue: $1,912,777
Annual Cash Flow: $218,575
Payroll: Contact For Info
Monthly Revenue: $159,398
Monthly Cash Flow: $18,214

Detailed Information

Location:
Monterey County, CA
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Contact the Seller

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Steven D Zimmerman, CBB, M&AMI, CBI, FIBBA

Business Listed By:
Steven D. Zimmerman

Restaurant Realty Company

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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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