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Costa Mesa Area Restaurant & Bar Customer Favorite
Location: United States -> California -> Los Angeles
Industry: Food and Beverage > Restaurants and Fast Food (Non-Franchise)




Business Summary

This well-established family operated Greater Costa Mesa area restaurant and bar has been a customer favorite for over 5 decades and is being offered for the first time! The spacious venue, that has become a brand name to everyone in the area, boasts a remarkable long-standing anchor location in a major shopping center. The restaurant has several sections, that not only allow for efficient operations but also provide a convenient way to section off areas for banquets, large parties or special events. The bar
is similarly separated, and could even operate as a stand-alone profit center.

This 4,000 square foot venue leases for $9,000 per month plus $1.2k in common area maintenance (CAM) expense on a lease until 1/3/1/24 with one existing 5 year option. All of the business-s furniture, fixtures, equipment, Type 47 Liquor License, tremendous goodwill and trademarked name and related names will be included in the sale. The owner recently upgraded the premises and infrastructure at a cost of over $500,000. Also, a new roof was completed within the past year. An estimated $20,000 in liquor inventory will be sold at cost at close in addition to purchase price.

While there are no shortage of restaurants in the greater Costa Mesa--- Huntington Beach corridor, this venue has been a perennial favorite for over 50 years, making it the incumbent and most established market leader. Its name brand, decades of goodwill, spacious parking lot shared in a center with high traffic anchor tenants, freeway accessibility and main street drive-by visibility all create the perfect storm of restaurant attributes that provide this venue an unmatched competitive advantage.

This well-established venue has recently undergone a comprehensive remodel during the COVID induced slow-down. As a result, the venue has recovered and is surpassing its already impressive historical performance.


Financials

Asking Price Range:  $1.0M - $2.5M
Gross Revenues:   $2,281,442
Cash Flow:   $274,091
Cash Flow Type:  Sellers Discretionary Cash
Inventory:  $20,000
Seller Financing:  Not Disclosed

About The Business

Year Established:  1966
Number of Employees:  35 - 49
Relocatable:  No
Franchise:  Not Disclosed
Current Real Estate:  Leased
Property:  Property For Lease

About The Sale

Management Training and Support:  The seller will train for 2 weeks at 20 hours per week.
Reason For Selling:  Retirement

Photos

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Costa Mesa Area Restaurant & Bar Customer Favorite Photo 1




Print Listing Id: 700371136
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Related Searches: Catering Services  >  Food Production and Packaging  >  Grocery and Supermarkets  >  Liquor Stores  >  Restaurants and Fast Food (Non-Franchise)  >  Vending Machines  >  Other Food and Beverage  > 

Also See: Franchise Opportunities > Franchise Resales > California Businesses For Sale > California Franchises For Sale > California Business Brokers



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