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Listing View: Classic Restaurant & Lounge w/ Liquor, Live Music, Parking & Low Rent - San Diego, California


Classic Restaurant & Lounge W/ Liquor, Live Music, Parking & Low Rent
San Diego, California

Offered at:
$285,000

Office Listing #   RatLounge
Revenue: $1,045,014 / year
Cash Flow: $42,672 / year
Lease Rent: $6,000 / month
Square Feet: 55000

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 Listing Description

This classic restaurant and lounge with liquor, live music, parking and great rent has been a long time, East County San Diego favorite drinking and dining location for years. This facility offers a unique dining experience as well as a separate lounge with live music, dancing and opulent cocktails. This turnkey restaurant is in excellent condition, and will allow a new owner to continue this already successful concept with little, if any, improvements or modifications. The restaurant includes a full kitchen, walk-in refrigeration, office with surveillance system, employee restrooms, plenty of storage, patio, ADA restrooms, and its own parking lot with approximately 45 spaces. This 5,500 square foot facility leases for a low $6,000 per month including common area maintenance expense. The lease is valid until May 2013 with one five year option. The sale includes the liquor license and all of the furniture, fixtures and equipment, owned free and clear, as well as $3,000 of inventory at cost included. Competition is medium as other restaurants exist in the area, however this location and truly classic facility provide a unique concept and ideal layout unmatched by local competitors. This restaurant has excellent upside potential. As it generated average monthly revenues of $87,000 in 2010, a full time working owner that can dedicate more time to the operations and marketing should be able to increase efficiencies and decrease expenses, while building on the already successful concept. New owners may seek to capitalize on the live entertainment by having dance, karaoke or rat pack inspired music or jazz themed events.

General Information
Contact Information
Organization:   Sole Proprietorship
Year Established:   1946
Current Owner:   2008
# of Employees:   30
Seating:   153
Square Foot/Size:   55000
Parking:   Parking Lot
License(s) Required:   47 (Included in Sale)
Reason For Sale:   Personal
     
Financial Information
Revenue:   $1,045,014 / year
Cash Flow:   $42,672 / year
Payroll:   Contact For Info
Current  Inventory:   $3000
FF&E:   $50000
     
Lease Information
Lease Rent:   $6,000 / month
Lease Expiration:   5/2013
Listed by:   R Clark
 The Veld Group
Email: Email Seller
Phone:  (310) 652-8353
Website:  www.theveldgroup.com
Listings:  See All Listings by Broker
Profile:  View Broker Profile
      Confidential Statement: Download


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The information in this listing has been provided by the seller or broker stated in the contact section of the listing profile. As such, Business For Sale Exchange has no claim in the sale of this business and has not independently verified any of such information and assumes no responsibility for its accuracy or completeness.
 
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