Long Beach Restaurant With Beer & Wine, Great Rent
Location:
United States
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California
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Southern California - Los Angeles Area
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Santa Clarita
Industry: Food and Beverage > Restaurants and Fast Food (Non-Franchise)
Business Summary
This themed fine dining restaurant for sale is ideally located in between Downtown Long Beach and Belmont Heights, allowing it to draw patrons from both areas and beyond. The versatile facility has many options for growth, as its current owner only truly caters to the special event / special occasion weekend evening crowd. Ideally with an owner operator, this location could do very well with a concept that draws a breakfast, lunch and dinner crowd, service neighborhood residents on a regular basis, while capitalizing on the beer and wine license. The facility seats fewer than 50 customers inside but could do very well with an open seating concept, or a walk-up / service bar concept.
Please note that it is necessary for all prospective buyers to fill out a Non-Disclosure Agreement. Requests for specific data without such will not be entertained. This opportunity is not available for co-broker.
Asking Price $59,000.
This quaint 1,000 square foot facility leases for an amazing $2,200 per month on what the landlord has communicated will be a new 5 year lease commencing at the same rate, with annual cost of living increases, and options to be discussed. The sale includes a beer and wine license, an efficient kitchen with a deep fryer, stove, grill, salad prep an additional prep tables, 3 door fridge, hood and owner parking. While the restaurant's unique concept may transfer in the sale, the artwork is not included. All equipment is fully paid off.
This area of Long Beach generally attracts the best of all worlds - local regulars with high discretionary income, diners celebrating special occasions as well as business persons attending local conventions. New owners may seek to continue to grow the existing concept or introduce an entirely new one that will likely seek to cater to a regular morning, daytime and evening client base (as 70% of this operation's business is on Friday and Saturday night after 7:30 pm).
Financials
Asking Price Range: < $250K
Gross Revenues:
$150,000
Cash Flow:
$35,000
Cash Flow Type: Sellers Discretionary Cash
Inventory: $2,000
Seller Financing: No
About The Business
Year Established: 1994
Number of Employees: 4 - 5
Relocatable: No
Franchise: No
Current Real Estate: Leased
Property: Property For Lease
About The Sale
Management Training and Support: 2 weeks at 20 hours / week.
Reason For Selling: Personal.
Click on the "I'm Interested" button above for more information on this Food and Beverage > Restaurants and Fast Food (Non-Franchise) business for sale.
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Print Listing Id: 70096426
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