This stylish downtown Santa Monica restaurant with beer and wine boasts a highly versatile layout in a location with stellar foot traffic and street visibility. The restaurant’s staff is known for their excellent service, while the facility offers a chic ambiance with a relaxed vibe that may be adopted to any number of new concepts ranging from quick service to fast casual or fine dining. The business has a $150k EIDL loan that may potentially be assumed by a buyer in lieu of seller financing.
- Asking Price:
- $275,000 Furniture / Fixtures included
- Sales Revenue:
- $1,977,339
- Cash Flow:
- $138,622
Property Information
- Real Estate:
-
Lease
- Leasehold Rent:
-
$123,153 per annum
- Premises Details:
-
This 2,495 square foot venue leases for $8,116 per month, plus $1,500 in common area maintenance expenses (CAM) on a lease until 2024 with option to be determined. All of the business’s furniture, fixtures, equipment and Type 41 Beer and Wine License will be included in the sale. The name and menu will not be included. An estimated $5k in food and beverage inventory will be sold at cost at close.
- Size in square feet:
- 2,495
Business Operation
- Expansion Potential:
-
While the venue’s name and menu is not included in the sale, current management has built the venue into a successful operation with a loyal following in the event the buyer has a similar concept or should they want to use the proven location to offer a wholly different type of fare.
- Competition / Market:
-
Downtown Santa Monica is recognized for its vibrant culinary and entertainment scene, which naturally creates a highly competitive environment. However, despite this bustling landscape, this venue has managed to establish a niche and achieve profitability despite the challenges COVID presented shortly after its launch.
- Reasons for selling:
-
Personal
- Years established:
- 2019
Other Information
- Support & training:
-
Seller will train for 2 weeks at 20hrs/week or as negotiated.
- Financing available:
-
Owner/Selling Financing Available
- Furniture / Fixtures value:
- $30,000 - included in the asking price
- Inventory / Stock value:
- $5,000
