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Sell your restaurant business in California - Santa Barbara
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Santa Barbara Area Beachside Restaurant w/Bar & Wine Room – Client Embraced!
Santa Barbara, California

Asking Price

$825,000

Office Listing #

PadarCar
Revenue $2,005,483 / year Lease Rent $8,900 / month
Cash Flow $230,917 / year Square Feet 3500
Direct Link www.restaurants-for-sale.com/26763

    

The beach side restaurant with a full bar, dining room and large wine room boasts a customer embraced concept in the Greater Santa Barbara area. It is a local favorite but also does a burgeoning amount of business with the tourist community as well as denizens from neighboring cities. The nearly 10 year old venue has managed to maintain an extraordinarily stable $2.5 ml. in gross revenues year over year. This 3,500 square foot restaurant leases for $8,900 per month on a lease that will expire in early 2019 with 2 five year options at fair market value. All of the business's furniture, fixtures, equipment and Type 47 Liquor License will be included in the sale. Approximately $95,000 in beer, wine and liquor inventory will be sold at cost at close in addition to asking price. While competition exists in this popular beach side community, none would be considered direct competitors for the type of food offered or for the bar ambiance this venue has managed to create. The venue may be deemed the dominant “go to” dining venue for seafood, steaks or a true higher-end yet still “beach casual” bar scene. New operators will likely wish to carry on in the same tradition and with exact formula that has proven successful. With that said there are several areas for cost improvement in terms of staffing efficiencies, expenditure controls and food and drink prices. 2 Weeks at 20 hrs/wk

  

General Information

Organization Sole Proprietorship
Year Established 2008
Current Owners 2008
Employees 50pt
Operating Hours Contact For Info
Reason For Sale personal
   

Facilities

Seating 100
Square Feet 3500
Parking Contact For Info
Licenses 47
   

Financials

Revenue $2,005,483 / year
Cash Flow $230,917 / year
Payroll Contact For Info
Inventory $95000
FF & E Contact For Info
 
 

Lease

Lease $8,900 / month  
Expiration Not Available  
Yearly Adjustment Not Available  
Option Not Available  
Deposit Not Available  
     

Financing

Down Payment Contact For Info  
All Cash Contact For Info  
Note Balance Contact For Info  
Term of Note Contact For Info  
 
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Listing Contact

Ryan Clark
phone: 3106528353
R Clark
The Veld Group
phone: (310) 652-8353

www.theveldgroup.com

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The information in this listing has been provided by the seller or broker stated in the contact section of the listing profile. As such, Restaurants For Sale Online, LLC has no claim in the sale of this business and has not independently verified any of such information and assumes no responsibility for its accuracy or completeness. Read the disclaimer before responding to any ad.

 
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