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Asking Price$1,650,000
Revenue$4,300,000 Established2014
Cash Flow$550,000 Employees75 full-time
FF&EUndisclosed FranchiseNo
InventoryUndisclosed RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
RRC#: 3955    
Asking Price: $1,650,000
Location: Monterey, California
Annual Revenue: $4,300,000
Annual Cash Flow: $550,000
Monthly Rent:  $30,000 or %5

Listing Description:
Only 15% down to purchase this highly profitable, long established restaurant/bar. Owner is selling  2 restaurants of the same name. See Listing #3954 for the sister establishment. It’s impossible to build a new restaurant in the city of Monterey and only existing establishments may be allowed to be purchased & converted, that’s without exception. Therefore this is an opportunity to purchase these 2 Icon restaurants in Monterey with combined annualized 2021 revenues exceeding $8 million with profits of $1.1million. One established in 2007 the other in 2014 and both in superb locations each with ABC Type 47 hard liquor licenses & large bar areas. 6,400 sq ft restaurant with spectacular views of Monterey Bay from every table, the other 5,200 sq ft plus Patio.

Modern kitchens and both with Type 1 Hoods and fire suppression systems and a long list of equipment each restaurant with seating capacity in excess of 200. The owner would prefer to sell together but would discuss separate purchases. Locations are within easy drive of one another allowing the current owner to manage these businesses with the assistance of key, well-trained long-term employees & a General manager in place for each establishment. Good revenues and provable cash-flow with full books and records to verify the financials are available to well qualified, well financed interested parties.

This is a highly confidential listing, therefore to receive more information and discuss these long-established businesses with the broker along with the broker’s connections for long-term SBA financing please complete the ‘Non-Disclosure Agreement’ on our website and we’ll contact you to discuss before sending the name and address, the full financial information, leases & comprehensive list of equipment included with the sale. There are favorable long lease terms in place with huge lists of assets, including ABC type 47 hard liquor license on each are ready for an energetic new owner to enjoy. No Broker Coop.

General Information:
Organization: Inc.
Year Established: 2014
Current Owner: 2014  
Employees: 75  
Reason For Sale: Other Interests

Financial Information:
Monthly Revenue: $358,333
Monthly Cash Flow: $46,000
Annual Revenue: $4,300,000
Annual Cash Flow: $550,000
Annual Payroll: $1,044,000


Square Feet: 6,400  
Seating: 200+  
Parking: Public Parking Lots  
Days/Hours of Operation: 11.00am - 10.00pm Daily
Facilities:Square Feet: 6,400 Seating: 200+ Parking: Public Parking Lots Days/Hours of Operation: 11.00am - 10.00pm Daily
Training/Support:Yes
Sale Reason:Other Interests
Ad #127604
Seller Reference #3955
The information in this ad has been provided by the business seller or representative stated on this ad. BuyBusiness.com has no stake in the sale of this business, has not independently verified any of the information about the business, and assumes no responsibility for its accuracy or completeness. Please read our Terms of Service before responding to any ad on our website.
Contact This Seller
Steven D. Zimmerman, CBI, M&AMI, CBB, FIBBA
Restaurant Realty Company
888-995-9701
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