High End Restaurant & Lounge
Location California,United States
Asking Price Range $500K - $1.0M
Gross Revenues $1800000
Net Profit / Cash Flow $0
Cash Flow Type Sellers Discretionary Cash
Seller Finance No
Year Established 2008
Number of Employees 20 - 34
Inventory 200000
Relocatable No
Number of Employees 20 - 34
Real Estate Leased
Training 2 weeks at 20 hours / week.
Reason for Sale Personal.
Description This high end restaurant & lounge for sale is located in an ideal downtown tourist and business district may be the classiest restaurant to enter San Diego in years. The current owner has invested nearly $2.0 million to create this exquisite first class operation. The restaurant and lounge accommodates up to 153 persons inside, with room for up to 40 persons on the patio. The venue offers a buyer a state of the art kitchen, a full liquor license and a wine room designed for royalty.
Asking Price $675,000.
This 4,500 square foot facility (plus patio and additional office and storage space of 1,600 square feet) leases for $18,619 per month plus CAM. The landlord will most likely negotiate a new lease for a qualified buyer lower than the existing rate. The facility comes with an elegant Manhattan style bar and lounge, 2 separate dining areas (one designed for private parties and corporate events), a kitchen that any chef will love, and a new state of the art POS system. All of the kitchen equipment, furniture, fixtures, POS system, liquor license, goodwill / intangible assets, etc. will be included in the sale
Downtown San Diego is a hub for business meetings, after work happy hours, and evening fine dining. This restaurant has a convenient location to attract all such customers, as well as tourists and nearby residents.
As this business is less than 1 year old, new owners may capitalize on the current owner's tremendous investment and continue the concept, or they may seek to shift the business to any concept they seek (though another high end concept will likely make the most sense). The bar and lounge, large kitchen, patio and overall layout are versatile enough to be a gourmet restaurant of any variety, or an ultra chic lounge with restaurant.
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