Description This Santa Barbara area beachside restaurant with beer and wine is truly one of a kind opportunity for the visionary who can further develop and capitalize on its ideal location, or who simply seeks to stay the course with its highly successful concept and reap a fantastic return on investment from a trophy restaurant location. The incredible venue boasts the best of all worlds as it has excelled freeway access, ocean views, grounds that are licensed for beer and wine consumption, and a well-appointed turnkey apartment that can be an additional income generator
Asking Price $1,495,000
This truly remarkable restaurant property occupies 1,800 square feet of indoor
restaurant space, boasts enormous ocean side indoor and outdoor patio space with
unmatched and very well-developed grounds, as well as a one bedroom beachside
bungalow apartment with a patio and large deck. The one of kind premise has 1.5
years remaining on its current lease, with two 5 year options. Rent is the greater of
$7,500 per month, or 8.0% of gross revenues which equates to roughly $172,000 per
annum. All of the businessss furniture, fixtures, equipment, beer and wine license and
tremendous goodwill will be included in the sale.
Competition exists on a variety of levels for this venue, but none would be characterized as 'direct' competition given its unique ambiance and overall offering.
While the restaurant is tracking to do over $2 million in 2014 sales, tremendous growth potential exists for the virtually untapped special events market. The restaurant offers its loyal patrons a fast casual menu offering, however, this could be enhanced during the evening hours by transitioning to a fine dining menu or concept. The unique premise may be just was well suited to become a special events venue to host weddings, parties, corporate banquets, fully catered wine tastings, etc.