Iconic Bakersfield Basque Restaurant, Bar and H...

Bakersfield, CA
Kern County


Asking Price: Annual Revenue:
$157,199 $610,971

Food & Beverage: Restaurants, Fast Food, Deli


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RE: Iconic Bakersfield Basque Restaurant, Bar and H... Broker: John Willingham
License #: BRE 556588
Owner Financing is Available!

Quick Facts

Asking Price: $157,199
Annual Revenue: $610,971
Net Profit: Not Disclosed
Cash Flow: $52,601
Total Debt: Not Disclosed
FF&E: $92,000
Real Estate: Not Disclosed
Year Established: 1900
Employees: Not Disclosed
BBN Listing #: 731638457
Broker Reference #: BAKERCA001-N935

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Business Overview:

The area's oldest Basque restaurant — and, so it is said, the world's last surviving establishment of its kind — founded in 1893 by Faustino Noriega, a Basque immigrant who beat the railroad here by six years. The hotel, which Noriega ran with partner Fernando Etcheverry, catered to young Basque men engaged in what was then a common vocation for imported workers from the Pyrenees mountain range of northern Spain and southwestern France: sheepherding. This venue has been providing a home style dinning experience ever since. It has been recognized nationally even appearing in The New York Times, on the occasion, of Noriega’s black-tie acceptance of a James Beard Foundation Award for American cuisine in 2011.This venue boast of a working-class charm, and an entertainment niche, that the upscale chains along westernmost Stockdale Highway cannot match. Some of the language herein was borrowed from a recent article in the Bakersfield Californian By Robert Price. Follow this link to read the entire article, https://www.bakersfield.com/news/robert-price-noriega-hotel-closing-now-it-s-really-hitting-home/article_7039ac06-871c-11ea-b118-97b0888ee7f4.html Since the article appeared there has been a lot of interest from potential buyers and the owners, have opened the opportunity to those buyers and any other interested parties, to make offers. This opportunity also includes 19 hotel rooms that could be rented out. Some of the downstairs rooms are being used as storage and the others would need to be renovated to meet current occupancy standards. The Business was having a better year than the last until Covid-19 hit. But the Business is priced at the value of the assets including a little Goodwill. Sunbelt Business Brokers and Advisors and I, John W. Willingham, CCIM, CBI, CBB, FIBBA are proud and excited to help the owners bring this Business to market. So that our community and the World can continue to enjoy this turn of the last century charm. I can be contacted at (661) 332-9401 voicemail or text, or john.willingham@sunbeltnetwork.com.

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Property Features and Assets:

Real Estate License ID: BRE 556588

Reason for Selling:

Retirement

Additional Details:

  • The property is leased.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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