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Listing #4934

PRIME Bay Area waterfront restaurant and bar doing $4mil + in sales.

Price: $599,000
Down Pmt: $125,000
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PRIME Bay Area waterfront restaurant and bar doing $4mil + in sales.

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To Visit This Restaurant Please Sign the NDA By Selecting the Link To Left "Sign NDA." 

This is a BIG TIME opportunity for experienced operators with solid managerial skills and vision.

This fine dining restaurant sits directly on the water overlooking the bay in a PRIME location that is one of the Bay Areas most visited attractions and draws more than 3 million tourists per year. It is also a favorite dining spot for locals as well.

The restaurant, which features California and Italian cuisine, has a beautifully appointed dining room, huge bar area, two prime outdoor patios as well as banquet rooms. There is also a quick=serve coffee house with plenty of foot traffic walking past its doors throughout the day.

2018 revenues will be approximately $4.2 million and this marks the fourth year in a row they have exceeded $4 million. The $4.2 million in sales is FAR below the potential of the kitchen and location and proper marketing could substantially increase revenue to perhaps as much as $8 million or more.

2017 adjusted net is approximately $286,000. Labor costs are the “elephant in the room” and were approximately 46% in 2017. A full-time owner operator with labor management skills could have an immediate impact on the profitability and bottom line of the restaurant by properly managing scheduling and start and stop times for hourly employees. In addition, this is not the current owners primary business and he only works one to two days a week at the restaurant and we all know “when the cats away...”.

Each point is more than $40,000 per year so a combined 3% reduction in food and/or labor costs would equate to more than $120,000 per year in additional profit. A 5% reduction would equate to an additional $200k per year. Put this on the adjusted cash flow of $286k and you are making nearly $500,000 per year in profit.

Additional Notes:

This opportunity will qualify for SBA financing with 20% down and relevant industry experience.

PRICE EXCLUDES $50,000 +or- of Consumable Inventory. 

There is a type 47 – hard liquor license that is shared with the landlord. This is not included with the assets of the purchase but you will be placed on the license.

Some of the assets are Landlord owned while others are Seller owned. This will be clarified with the FF&E inventory.

It is a 6% lease with a banquet agreement helping drive the overall rent factor to about 5.5%.

SELLER IS FIRM ON PRICE. NO NEGOTIATION! DON'T BOTHER.

This is a very exclusive and private listing for SERIOUS BUYERS and you must be pre-qualified before any detailed information is released.

HOW DOES ONE QUALIFY? As a qualified buyer you'll need to have successfully managed or owned a HIGH VOLUME restaurant and bar for several years. In addition, you'll need a FICO score in the 700's and an established net worth greater than $1.5 mil

It is a 6% lease with a banquet agreement helping drive the overall rent factor to about 5.5%.

This is a very exclusive and private listing for SERIOUS EXPERIENCED HIGH NET WORTH BUYERS ONLY.

You must qualify before any detailed information is released.

WHAT DOES IT TAKE TO QUALIFY? As a qualified buyer you'll need to have deep and successful restaurant and bar experience in a high volume environment for several years. In addition, you'll need a FICO score in the 700's and an established net worth greater than $1.5 mil. This opportunity will qualify for SBA financing with 20% down and relevant industry experience.


This is a Paramount Restaurant Brokers, Inc. listing.
Restaurant Broker Chaz Gaddie DRE License #02057673
   
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General Information
Listing Status: In Contract
Price: $599,000
Down Payment: $125,000
Location: San Francisco East Bay
Last Year's Annual Gross: $4,221,000
Last Year's Owner's Cash Flow: $286,503
Lease Information: Expires January 31, 2023 + 2 5 Year Options
Monthly Rent: $19,000
Liquor License: 47
Indoor Seating: 238
Outdoor Seating: 110
Number of Parking Spots: Major Entertainment Area
# of Part-Time Employees: 20
# of Full-Time Employees: 40
Hours Open: 6:45 am to 11pm
Year Established: 2013
Inside Sq. Ft.: 9000
Outside Sq. Ft.: 1000
Hood System Type 1: Yes
Hood System Type 2: Yes
Highlights
  • Super High Volume

  • Major Tourist and Local Attractions

  • Hard Liquor w/Large Bar Area

  • Live Entertainment & DJ

  • Banquet Rooms

  • 3 Large Walkin

  • One Walkin Freezer

  • Generally Absentee Operated

  • Waterfront with Large Patio

  • Great Bay Area Views

  • Tremendous upside potential



DISCLAIMER: The User (that's you reading this) of this Website understands that Paramount Restaurant Brokers, Inc. ("Broker") or its agent(s) do not audit or verify any above information given to or gathered by Broker or its agent(s) from Seller, our Client, or make any warranties or representations as to its accuracy or completeness of the information provided, nor in any way guarantee future business performance. The User should perform a complete and detailed due diligence on the business and or real estate before buying it in addition to seeking professional advice from an attorney as well as a CPA.  In some cases, forward looking statements may have been made but these statements are absolutely no guarantees of future performance of the business as each User has differing skills sets to either grow the business or kill the business.  Owning a business is a risky venture, but can also be a rewarding one.  The User of this website is solely responsible to examine and investigate the Business and or real estate (if included in the sale), its assets, liabilities, financial statements, tax returns, and any other facts which might influence the User's purchase decision or the price the User is willing to pay. In most cases, the Broker represents the Seller who is our principal, but the Broker owes the User a duty of fair and honest dealings.  Any decision by User to purchase the Business shall be based solely on User's own investigation and the User's legal, tax, and other advisors and not that of Broker or its agent(s). Any listing information may change at any time without any notice to User and User should often review the listing on the website to keep up to date.



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