Restaurant and Bar with Real Property

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Business Description

A Restaurant with a 47 ABC license, patio and the Real Property is now for sale. The Restaurant sales are $104,000 per month plus the projected rental income of $8,000 per month for 3 apartments. The restaurant and apartments are located on Pacific Coast Highway in Laguna Beach. The apartments have ocean views a patio and parking on the property. The hours of operation are 5pm to 10;30 pm, dinner only, but can be expanded to breakfast, lunch and dinner. The ABC liquor license has no conditions and can open to 2am.

The asking price is $3,995,000 plus inventory for the restaurant and real property. The restaurant price is $330,000 plus inventory and the real property price is $3,665,000.

Restaurant Information.
Sales: $104,000 per month
Size of restaurant: 2000 sq ft plus a patio
Seating: 80 including the Patio
Hours of Operation: Monday thru Sunday 5pm to 10:30pm
The ABC license has no conditions for hours. The restaurant can be opened for breakfast, lunch and dinner and until 2am

Real Property Information
The Real Property includes the restaurant space plus two - 2 bedroom 1 bath apartments and a Studio apartment. All square footage is approximate.
The size of the property is approx. 4,434 sq. ft. and the lot is 7,,400 sq. ft.
The restaurant space is 2,000 sq. ft. plus a patio
The 2 bedroom apartments are 1000 sq. ft. each and the studio is 434 sq. ft.
All three apartments have ocean views and parking on the property.
The projected rent for the 2 bedroom apartment is $3,100 per month for each apartment and $1,800 per month for the studio apartment.
The restaurant rent is projected at $11,700 per month including $2,300 per month for NNN charges.

The adjusted income is $414,000 per year from the restaurant and 3 apartments. Financing is available with $560,000 cash down payment. The loan will be amortized over 25 years.

About the Business

Year Established:
1991
Number of Employees:
14
Real Estate:
Owned
Building Sq. Ft.:
4,434
Market Outlook/
Competition:
The restaurant has an excellent location on Pacific Coast Highway.
Growth & Expansion:
A new owner can expand the hours to include breakfast, lunch and dinner and close at 2am.
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About the Sale

Reason For Selling:
Owner retiring
Training/Support:
Seller will train the new buyer for 30 days or more.

Listing Info

ID:
1525246
Ad Detail Views:
686
Asking Price:
$3,995,000

Gross Revenue:
$1,248,000
Cash Flow:
$414,000
EBITDA:
$414,000
Inventory:
$10,000
not included in asking price

FF&E:
 Not Disclosed
included in asking price

Real Estate:
$3,365,000
included in asking price

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Business Listed by

Tony DeCuollo

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Source: Decennial Census (2010), United States Census Bureau.

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