* Included in Asking Price
Dream Restaurant, Full Bar & Patio Near Theater- Brick Oven Lunch & Dinner- $1.3m Gross- Reduced!
Asking Price: $165,000
Location: Greater Lafayette/Orinda, Contra Costa County, California
Yearly Revenue: $1,296,000
Yearly Cash Flow: $132,000
Monthly Rent: 10,112 all inclusive
A wide range of Buyer intended menu concepts would thrive in this location. Currently, this is a popular, well known neighborhood restaurant serving weekend brunches, lunch and dinner, including artisan pizzas. The clientele is diverse and the business has a strong following. Pizzas and a variety of the other menu items are cooked in an exhibition style gas fired brick oven, which could be easily adapted to a wood fired unit. The type 47 liquor license can easily tap into the huge upside to introduce a craft cocktail program to compliment its premium wine ions. The 2015 net sales were $1.3M and $82K annual cash flow with the absentee owner who does not work hands on. Chefs and managers are in place to oversee front and back of house operations, staffing, ordering, etc. The annual cash flow would increase to $132K or more for a Buyer working hands 50 hrs/wk, by eliminating one of the manager salaries & payroll expense. The restaurant seats 66 inside, including bar and counter seating, plus 40 on the outdoor patio with fire pit. A favorite spot for the locals, there is lots of natural light and comfortable surroundings, with plank wood flooring, distinctive lighting and views of the open style kitchen. The corner bar counter and dining room look on to the brick oven and exhibition line kitchen. The line kitchen is equipped with the gas fired brick oven, an 8’ type 1 hood, 6-burner sauté unit, 3’ char grill, double fryer, electric griddle, stainless work tables, 4-drawer under counter fridge, 3-door pizza prep unit and two 2-door sandwich prep units. The full bar has two 2-door tap fridges, espresso machine and grinder, air pot brewer, 3- compartment bar sink, ice well and hand sink. A rear prep kitchen features a 10’ type 1 hood, two 2-door convection ovens, stock pot burner, 60 qt. mixer, slicer and various electric food processing equipment, and a 3-compartment sink, prep sink and hand sink and wire rack wall shelving. Monthly base rent for the 1,656 sq. ft. restaurant premises plus an outdoor patio area is $7,735, plus $1,825 for CAM & NNN charges, which covers all water, sewer and garbage expenses for the restaurant. Lease term for the restaurant premises runs until May 2020 with 3% rent annual increases. There is also an assumable five year option with rent annual increases continuing at 3%. There is also a separate 338 sq ft storeroom for dry goods, beverages, etc. with rent of $552 month. Included in the sale to continue the existing operation is the business name, menu, recipes, equipment, type 47 liquor license, tenant improvements, etc. Buyers with their own concept have the opportunity to purchase the business assets, liquor license, improvements and assume the very favorable lease and rent terms. The seller may consider financing a portion of a purchase price for a qualified buyer.
Organization: LLC | Year Established: 2010 | Current Owner: 2010 | Seating: 66 inside, 40 outside | Square Footage: 6500 plus 2000 Patio | Parking: Street, Customer Parking lot. | Licenses Required: Business, ABC Type 47 Liquor License | Days Open/Hours: Daily 11a-10p | Reason For Sale: Other Interests |
Yearly Revenues: $1,296,000 | Yearly Cash Flow: $132,000 |
Monthly Rent: 10,112 all inclusive | Lease Expiration: May 2020 | Yearly Adjustment: 3% for current term | Lease Option: 5 years | Security Deposit: 4,140 |
Seller Reference #2429
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