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Businesses For Sale   >>   Banquet Businesses For Sale   

Slocum House - Sacramento Restaurant Icon

Location  California,United States
Asking Price Range  < $250K
Gross Revenues  $0
Net Profit / Cash Flow  $0
Cash Flow Type  EBITDA
Seller Finance  Not Disclosed
Year Established  1974
Number of Employees  4 - 5
Relocatable  Not Disclosed
Number of Employees  4 - 5
Real Estate  Leased

Real Estate Included - Slocum House, A Sacramento Restaurant RRC#: CURRENTLY NOT AVAILABLE-2001 Asking Price: $995,000 Location: 7992 California Avenue, Sacramento, California Yearly Revenue: Contact Broker Yearly Cash Flow: Contact Broker Monthly Rent: New Lease LISTING DESCRIPTION: Slocum House has been a Sacramento restaurant ''Icon'' for over 25 years until it''s closure in 2012. In fact it won the prestigious award of being voted ''Sacramento''s most Romantic restaurant'' for 10 consecutive years. The owners have made huge upgrades to the building already and have planned drawings and a building estimate for adding a substantial banqueting room and major improvements to this historic building. An experienced operator and real estate entrepreneur is sought to purchase this once great Sacramento restaurant, bar and new banqueting room for $995,000 or $200,000 as the tenant. An SBA bank loan for 90% of the asking price could be available for well qualified buyers, repaid over a 25 year period. What an opportunity to own and operate this prestigious Sacramento restaurant. Previous restaurant financials are available which show sales of $1.9 million at it''s peek. This was achieved without the planned banqueting room. At present the kitchen space is empty except for the Hood and infrastructure. Therefore the buyer would need to invest around $200,000 to re-open as the great restaurant once again. The current building is 3,200 sq ft with a planned extension of another 1,800 sq ft, 5000 sq ft in total. This is an opportunity of major impact to the restaurant industry of Sacramento and only a well qualified operators will be considered. Contact Restaurant Realty Co for further details and pre-qualification. GENERAL INFORMATION: Organization: Corporation | Year Established: 1974 | Current Owner: 2012 | Seating: 200 | Square Footage: 3000 approx + large Patio and storage. | Parking: Ample | Licenses Required: Health, Business and Type 47 |

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