Description Restaurant And Bar With Great Lease And Seller Financing-price Reduced
RRC#: 2059
Asking Price: $50,000
Location: Santa Clara County, Gilroy, California
Yearly Revenue: $749,640
Yearly Cash Flow: Contact For Info
Monthly Rent: 5500 all inclusive
LISTING DESCRIPTION:
WILL ACCEPT ANY REASONABLE OFFER. This 5,500 square foot restaurant is located in a historic building in the downtown of one of the Bay Area''s fastest growing communities. The building has been recently refurbished with new wiring, plumbing, HVAC, attic fans and new kitchen equipment. The two story building has dining rooms, a stage and dance floor, an antique back bar, a wood fired pizza oven, pool table, darts and outdoor seating on the upstairs deck. It''s currently an American faire casual dining restaurant serving breakfast, lunch and dinner, but could be converted to fine dining, a seafood restaurant or other concepts. It has a type 47 ABC license and an entertainment permit. The landlord is willing to give a new lease at $1.00 per square foot including NNN charges. The seller has a job opportunity and has decided to make a career change. He''s very motivated and has offered seller financing of $100,000 for a qualified buyer. RESTAURANT IS CLOSED. NO BROKER COOP
GENERAL INFORMATION:
Organization: Sole Proprietorship | Employees: 17 | Square Footage: 5500 | Licenses Required: ABC type 47 license | Days Open/Hours: Wed-Mon 8:00am-9pm Bar hours: Wed to 10pm, Thur & Sun to 11pm, Fri & Sat to 1:00am, Mon to 9pm |
FINANCIAL INFORMATION:
Yearly Revenues: $749,640 |
LEASE INFORMATION:
Monthly Rent: 5500 all inclusive | Lease Expiration: 2-28-15 | Lease Option: 5 years |
FINANCING INFORMATION:
Down Payment Required: 100,000 |