Business Overview:
This well-established family operated Greater Costa Mesa area restaurant and bar has been a customer favorite for over 5 decades and is being offered for the first time! The spacious venue, that has become a brand name to everyone in the area, boasts a remarkable long-standing anchor location in a major shopping center. The restaurant
has several sections, that not only allow for efficient operations but also provide a convenient way to section off areas for banquets, large parties or special events. The bar is similarly separated, and could even operate as a stand-alone profit center.
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Property Features and Assets:
This 4,000 square foot venue leases for $9,000 per month plus $1.2k in common area maintenance (CAM) expense on a lease until 1/3/1/24 with one existing 5 year option. All of the business’s furniture, fixtures, equipment, Type 47 Liquor License, tremendous goodwill and trademarked name and related names will be included in the sale. The owner recently upgraded the premises and infrastructure at a cost of over $500,000. Also, a new roof was completed within the past year. An estimated $20,000 in liquor inventory will be sold at cost at close in addition to purchase price.
Market Competition and Expansion:
While there are no shortage of restaurants in the greater Costa Mesa – Huntington Beach corridor, this venue has been a perennial favorite for over 50 years, making it the incumbent and most established market leader. Its name brand, decades of goodwill, spacious parking lot shared in a center with high traffic anchor tenants, freeway accessibility and main street drive-by visibility all create the perfect storm of restaurant attributes that provide this venue an unmatched competitive advantage.
This well-established venue has recently undergone a comprehensive remodel during the COVID induced slow-down. As a result, the venue has recovered and is surpassing its already impressive historical performance. Though it has been a family operated business, the operation may benefit from a full-time working owner-operator that has hospitality industry experience and is able to minimize expenses while bolstering the establishment’s already stellar revenues. The bar portion of the operation naturally enjoys the highest margins. This portion of the business may present the greatest opportunity for new management to quickly enhance profits even further.
Reason for Selling:
Retirement
Additional Details:
- The property is Leased.
- The owner is willing to train/assist the new owner.
- This is not homebased business opportunity.
- This is not a franchise resale opportunity
Documents:
Relevant Links:
Asking Price: $150,000