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Neighborhood Restaurant & Catering, $1.3m Sales, $102k Profit, Long Lease
Asking Price: $225,000
Location: Greater Oakland, Alameda County, California
Yearly Revenue: $1,296,000
Yearly Cash Flow: $102,000
Monthly Rent: $4,650
This profitable business has easy access, excellent visibility, and is located on a major high street with all day pedestrian and motorist traffic. The popular Mediterranean menu draws a devoted clientele to the restaurant and extensive off site-catering. The owner works hands approximately 45 hours per week with a $171K annual cash flow from $84,000 salary, plus an additional $87K from the net business profit. In addition to front outdoor seating for 12-16 guests, the interior restaurant dining area seats about 70 guests, and looks onto a large, well equipped, open exhibition kitchen. There’s a corner bar area with POS terminal, keg fridge and 4-taps, bar sink and wine chiller fridge. The impressive line kitchen includes a 16’ type 1 hood, char grill, 2-rotisseries, double fryer, 4-burner sauté station with oven, a flat top griddle, 4-pan steam table, plus under-counter and salad top prep refrigeration units. An adjacent prep kitchen includes a large convection oven, walk-in cooler, 3- door reach-in cooler, 3-compartment sink, ice machine and prep and hand sinks. The premises has a private office equipped with a 4-camera security system, 2-restrooms and separate store room. Gross monthly rent is $4,650 for the current 5 year lease term which runs through Nov. 1, 2020 with 3% annual rent increases, and the annual rent increases continue at 3% for the 5 year option ending Oct. 31, 2026.
Organization: Partnership | Year Established: 2011 | Current Owner: 2011 | Seating: 70 | Square Footage: 1,950 | Parking: Street, parking lot | Licenses Required: Business, ABC Type 41 Liquor License | Days Open/Hours: Daily 11a-9:30p | Reason For Sale: Other Interests |
Yearly Revenues: $1,296,000 | Yearly Cash Flow: $102,000 |
Monthly Rent: $4,650 | Lease Expiration: 10/31/2021 | Lease Option: 5 years | Security Deposit: 8,000 |
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