* Included in Asking Price
Newly Built Out Sports Bar $2 Million+ Sales $354,000 Profit 30+ Year Lease
Asking Price: $699,000
Location: In Downtown Area, Santa Cruz County, California
Yearly Revenue: $2,068,596
Yearly Cash Flow: $354,432
Monthly Rent: 13,809 all inclusive
This uniquely designed sports bar is located in a popular coastal city and is handsomely designed and there is over $1 million invested in this facility. The seller wants to sell as he is involved in other projects and can''t spend the time necessary to maximize this opportunity. There are two dining rooms, an outdoor seating area, a bar and cocktail lounge, full kitchen, prep kitchen and the facility can hold up to 400 people for special events. In the dining rooms there is a combination of banquette seating, booth seating and table and chairs and in the cocktail lounge there is a combination of bar height tables and bar stools and tables and chairs. There are attractive attractive hanging light fixtures, high ceilings and finished concrete floors throughout. Additionally there is an office area, storage area and ADA restrooms. Some of the equipment includes as follows: 11'' and 6'' type 1 hoods with fire suppression systems, 6 burners over oven, 6 burners, 3'' char grill, 3'' flat grill + convection oven, 2 double basket fryers, full deck pizza oven, 5 ice wells, 3 - 3 compartment sinks, 14 taps, 3 -2 door under counter refrigerators (1 with sandwich station),. 3 -3 door under counter refrigerators (1 with sandwich station), 3 glass door under counter refrigerator, 2 -2 compartment sinks, 2 utility sinks, POS system, 2 -3 door under counter refrigerators + sandwich stations, slicer, 4 - half door refrigerator, 2 ice machines, counter mixer, microwave, 2 walk-in refrigerators, walk-in freezer, 2 hand sinks, dish washing sink + rinse hose, 2 food warmers and mop sink, etc. With a strong marketing program in place this can easily be a $3+ million grossing business. This operation is one of the few in the area that can serve alcohol to 2a daily. The rent for the first five years of the lease is flat (no increases) and the rent in each option (there are 6 - five year options) period is adjusted annually by the CPI with a minimum of one percent (1%) a year and a maximum of four percent (4%) per year so you can approximately project your rent for the next 30 plus years and the lease is assignable.
Organization: LLC | Seating: approx 300 | Square Footage: 8,000 | Parking: Street and public parking lots | Licenses Required: Business, ABC Type 47 License (hard liquor) | Days Open/Hours: M-F: Lunch and Dinner SA, S Brunch and Dinner | Reason For Sale: Other Interests |
Yearly Revenues: $2,068,596 | Yearly Cash Flow: $354,432 |
Monthly Rent: 13,809 all inclusive | Lease Expiration: 2019 | Yearly Adjustment: See narrative above | Lease Option: 6 - Five Year Options |
Seller Reference #2506
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