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Restaurant In Santa Monica For Sale

Santa Monica, California - South, US
Asking Price:
$595,000
Sales Revenue:
Available on request
Cash Flow:
Available on request

This Santa Monica fast casual restaurant with beer, wine and coveted sidewalk seating occupies one of the city’s most prominent corner locations. Due to its tremendous street visibility, heavy walk traffic and significant signage, this is a fantastic flagship location for a new brand; plus it does not need to rely as heavily on marketing as many find necessary. The versatile premise has an open kitchen build-out with its ovens visible throughout.

The 5,600 square foot facility rent for roughly $26,878 per month plus $2,645 in triple net expenses (NNN) plus 6% of gross past $6.0 ml in annual revenue (approx.) sales breakpoint on a lease until 1/31/24 with 2 five year options (with 3.0% annual increases). Due to the nature of the premise, patrons are offered onsite parking with validation. All of the business’s furniture, fixture and non-branded equipment will be included in the sale, as well as its Type 41 beer and wine license. This facility includes a take-out kitchen with a separate pizza oven. It has a customer friendly take-out counter. This may be sublet, as it has been in the past, however the owners have opted to hold-off on offers until the future of the balance of the premise is determined.

Property Information

Real Estate:

Lease

Business Operation

Expansion Potential:

Due to the versatile layout, this premise may be modified to accommodate a quick service, a fast casual or even a full service restaurant concept. New management will want to capitalize on the area’s heavy business as well as its local resident, visitor and tourist population to ensure a successful launch and stable operation.

Competition / Market:

While competition exists on several levels in this extraordinarily popular retail area of Santa Monica and Greater Los Angeles, this prominent location on a major street corner has all of the features and beer and wine entitlements necessary to maintain a successful long-term sustainable operation.

Reasons for selling:

Personal

Years established:
2015

Contact The Veld Group

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