* Included in Asking Price
Long Established Sacramento Icon Restaurant & Bar With Hard Liquor License
Asking Price: $500,000
Location: Sacramento Metro Area, Sacramento, California
Yearly Revenue: $3,000,000
Yearly Cash Flow: $264,000
Monthly Rent: 7%
This Restaurant & Bar has been a successful Sacramento icon for nearly 60 years. A valuable full bar ABC Type 47 hard liquor license is included with the sale. With it''s unique style of service which will always be a popular concept serving the Sacramento community. Pre-Approved for an SBA loan funding 75% of the sale price. A buyer with good credit and experience in the industry can purchase for only 25% down, financing the remainder over 10 years. 6,500 square feet with the main dining room seats 140, the bar seats 20 at the bar counter and a further 70 seats in the private banquet room. The kitchen is fully loaded with it 20ft hood with fire suppression system, 2 large walk-in''s, double convection oven, a 12 burner stove, triple door steamer, refrigerated work tops along the line, prep area with s/s tables and a large separate dish wash area to cope with the 500+ daily guests. The decor maybe old fashioned but it''s in keeping with the style of food and drinks served. Annual sales are consistent year on year at $3 million with profits of $240,000 while under management. The owner is quasi absentee and only spends 15 . Food represents 90% of sales and has a relatively high food cost while the bar at only 10% of sales has a huge potential for growth. A seasoned operator would really enjoy reducing the food costs and expanding the alcohol sales to increase profits. Located on a major 6 lane highway with a parking lot for 100+ vehicles this restaurant has great curb appeal and a reputation to match. This is a unique concept restaurant and bar that will always be popular with the community. Don''t miss out on this long established icon of a restaurant for sale at $500k. To receive full details of this opportunity please complete the ‘Confidential Information’ request at the top of this page and we’ll send you the name, address, financials & lease information. We will also send you the broker’s agent contact information so you can discuss in more detail.
Organization: LLC | Year Established: 1959 | Current Owner: 2007 | Employees: 40 | Seating: 230 | Square Footage: 6500 | Parking: 100+ | Licenses Required: Health, Business and ABC Type 47 License | Days Open/Hours: 11.00am - 9.00pm Daily | Reason For Sale: Other Interests |
Yearly Revenues: $3,000,000 | Yearly Cash Flow: $264,000 |
Monthly Rent: 7% | Lease Expiration: 2017 | Yearly Adjustment: 3% | Lease Option: New Lease - Negotiable | Security Deposit: 10,000 |
Seller Reference #2427
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