Established 1998 with the same owner , this restaurant is operating, profitable, excellent location, great condition, extensive FFE. The opportunity includes a long term favorable lease rate, or property purchase. The dynamic restaurant operation in conjunction with the real estate is offered at $1.6M. The real estate is 1/2 acre of coastal commercial land. Seller's architect has indicated that future development to five ocean view condos in addition to the existing restaurant operation is feasible. The restaurant operation with a long term lease in stead of land purchase is offered at $600K.
About the Business
Number of Employees:
Building Sq. Ft.:
A uniquely designed restaurant of approximately 4000 usable space located on 1/2 acre land with future land development potential to five residential ocean view condos in addition to the existing restaurant improvements and operation offers an opportunity to invest and realize immediate income return. Total Seating capacity is 60 + 36 Patio. Distinctive leasehold improvements include the restaurant space as well as the covered patio area, out side Santa Maria Type BBQ, 2 ADA bathrooms , 3 storage sheds. Fully equipped and efficient kitchen with Type 1 hood ,and Type 41 transferable Beer and Wine license. An eclectic, fun space which keeps people coming back for good food, fair prices and great ambiance in this coastal well known iconic restaurant. The modestly priced yet extensive menu brings in annual customers both locally and those on vacations to the central coast.Call for information on each location.
Asking Price: $1,600,000 Gross Revenue: $1,007,000Cash Flow: $209,433 (Seller's Discretionary Earnings) EBITDA: Not DisclosedInventory: $10,000 included in asking priceFF&E: $50,000 included in asking priceReal Estate: Not Disclosed included in asking priceShare this business:
Explanation of Financial Terms
The total asking price of the business for sale.
All income the business received before any cost-of-sales or expenses have been deducted.
Arrived at by "starting with your net (before tax) profit. Then, add back in any payments made to the owner, interest and any depreciation of assets." For example, if the net profit before taxes was $100,000 and the owner was paid $70,000 then the cash flow is $170,000.
Earnings Before Interest, Taxes, Depreciation and Amortization.
The value of the merchandise, raw materials, and finished and unfinished products which have not yet been sold. If there is no inventory price listed then the seller did not provide it.
Furniture, fixtures and equipment that will remain with the business, such as desks, office cubicles, decor elements of a restaurant or showroom, computers and office machines, pots and pans, dishes, display cases, manufacturing equipment, etc., depending on the type of business.
The value of property owned by the business. May be included in the asking price or offered separately. If no real estate value is listed, it was not provided by the seller.
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