Italian RestaurantsCaliforniaAlameda

Select Categories California
Water Front High Volume Restaurant and Bar For Sale
$599,000Cash Flow: $286,503
Water Front High Volume Restaurant and Bar For Sale

Oakland, CA

This restaurant sits directly on the water over looking the bay and is one of the best location in the area. It serves California Italian fine dining food and spirits. 2017 again was another great year, marking the third year in a row where revenues exceeded $4 million! If you're great at tight labor management, then you ought to stop and read this advertisement. Labor costs (payroll, payroll taxes, workers Comp. & health insurance) are nearly 46% of revenue. This broker believes there are a number of factors driving this number besides increased hourly rates. First, the menu price points seem low and could be raised with the highest priced item being an aged Rib-Eye steak at $42 per plate with most plates priced around the $18 level. The same meal at Mastros would be $56 wthout any sides. This broker also believe the staffing needs to be closer managed to meet the demand. Having visited the restaurant twice, there certainly is over staffing occurring in the dining area as well as the coffee cafe. In the back of the house, every thing is made from scratch where many of it could be bought to reduce the labor costs. And finally, this store is absentee operated and no doubt a working owner could tighten the labor by being there every day to help and to motivate employees to work smarter. The food quality is good with Google giving them 4 stars and most of the 700+ Yelp reviews giving it nearly 4 stars. But there is room to improve the service and the quality of the food. But you'll have a good start to generate even greater sales. THE NUMBERS: In 2017 revenues were $4,221,000 with adjusted net of about $286,000. Revenues in 2017 were slightly higher than 2016. Profit improved due to lowering labor costs by a few percentage points and lowering food costs by 1.5%. The restaurant and bar has a huge bar area for parties and whatnot. It also includes a Starbuck's like coffee house with street visibility and easy access. HERE IS WHAT YOU'RE BUYING: There is a type 47 liquor license - hard liquor, but it is shared with the landlord. You'll be placed on the license. You are buying the name and menu. It is a 6% lease with a banquet agreement. Some of the assets are landlord owned while others are Seller owned. Since this is a very exclusive and private listing, this is all I can say. PRICE EXCLUDES $50,000 of Consumable Inventory. SELLER IS FIRM! YOU MUST QUALIFY BEFORE ANY INFORMATION IS RELEASED. HOW DOES ONE QUALIFY? As a qualified buyer you'll need to have deep and successful restaurant and bar experience in a high volume environment with a FICO score in the 700's and an established net worth greater than $1.5 mil, proving your successful. You'll need at least 20% down. Serious buyers only! SBA Loan available to qualified buyers.

Become a Premium Member Today!