Neighborhood Rest & Bar more than 1.5million sale

Kirkland, WA
King County

located in a densely populated area


Asking Price: Annual Revenue:
$1,150,000 $1,651,237

Food & Beverage: Restaurants, Fast Food, Deli


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RE: Neighborhood Rest & Bar more than 1.5million sale Broker: David Smith
Owner Financing is Available!
At least 70% down, but strictly base on a case by cases.

Quick Facts

Asking Price: $1,150,000
Annual Revenue: $1,651,237
Net Profit: $1
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: 1991
Employees: 23
BBN Listing #: 786351531
Broker Reference #: neigmkr

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Business Overview:

Here’s a million-dollar restaurant and bar for sale at a $1,000,000 Eastside location. It’s about 20 years established, fully equipped and totally turnkey. It’s all good. This business offers so much more than what the typical grill and bars offer both in food and drink. And the atmosphere here is family friendly with a menu that is over the top, even some award-winning food choices.

Self-standing building with a huge parking lot. 100 plus parking. Fully equipped kitchen with 2 walk-in coolers, 56” grill, and a type 1 hood system. A fully equipped bar with 30 money making Pull Tabs. Seats 90 but even has some 32-patio seating for when the mood and weather permits. Almost 3,000 square feet, 6 HD flat screen TVs and a POS system with an $8,000 upgrade in 2018. Looking good for years to come.

Even in the parking lot, there is money to be made as there is an espresso stand with a drive-thru that all comes with this business as part of the sales package. New owner can operate this and increase his monthly sales and add another $10,000. to his bottom line every month. Currently, this coffee stand is just being rented out for $1,500 a month. Either way, it’s extra money in your pocket. All and all this setup is hard to beat. Is open 7 days a week with 23 employees of which 17 are part-time and 6 full time.

Owner works only about 20 hours a week. Currently serves breakfast, lunch, and dinner. Lots of ways to upgrade the profits, if the new owner was able to devote full time on this business, he could conceivably be pushing 2 million in gross sales annually and taking home about $250,000 a year net. Currently opens at 9 AM so many breakfast sales are going missed out on. There is a breakfast crowd in this area if the new owner wanted to open earlier and capture the breakfast dollars. Very little if any breakfast competition close by. Only about 10% of the current sales here are breakfast generated, so there is lots of potential to increase the breakfast business. At the other end of the spectrum, this restaurant and bar closes at 12 midnight. It has a full bar and this is located in a densely populated area so it would stand to reason that some late night/early morning profits are being missed out on also.

Other areas of picking up even more profits are, there is no delivery service being done and no catering being offered or done. Maybe the new owner could tap into either or both of these cash revenues as well. On average 280 paying customers come thru the front doors daily. You should know that this restaurant and bar has never had a down year since its beginning almost 20 years ago.

Seller wants to retire but another benefit to the buyer is the seller has extensive restaurant and bar consulting experience and he is willing to offer and help buyer all the way through the transition period, perhaps longer even. This is a winner and figures to be a winner for many years to come.

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Property Features and Assets:

Monthly lease is $9,600 that’s Triple Net included. Seller pays is own water and garbage. The lease is assignable and renewable. Current lease expires in 2023 but the landlord is willing to give an extended lease to the new owner of the business. Square footage is 2,990 with a seating capacity of 90 inside and 32 additional seating on the patio. Fully equipped kitchen with 2 walk-in coolers, 56” grill, and a type 1 hood system. A big fully equipped bar with 30 money making Pull Tabs. Big parking lot 100 plus parking lot. Even in the parking lot, there is money to be made as there is an espresso stand with a drive-thru that all comes with this business as part of the sales package.

Market Competition and Expansion:

Lots of ways to upgrade the profits, if the new owner was able to devote full time on this business, he could conceivably be pushing 2 million in gross sales annually and taking home about $250,000 a year net. Currently opens at 9 AM so many breakfast sales are going missed out on. There is a breakfast crowd in this area if the new owner wanted to open earlier and capture the breakfast dollars. Very little if any breakfast competition close by. Only about 10% of the current sales here are breakfast generated, so there is lots of potential to increase the breakfast business. At the other end of the spectrum, this restaurant and bar closes at 12 midnight. It has a full bar and this is located in a densely populated area so it would stand to reason that some late night/early morning profits are being missed out on also. Other areas of picking up even more profits are, there is no delivery service being done and no catering being offered or done. Maybe the new owner could tap into either or both of these cash revenues as well. This business is located on a very high traffic street on the Eastside, even in the parking lot, there is money to be made as there is an espresso stand with a drive-thru that all comes with this business as part of the sales package. New owner can operate this and increase his monthly sales and add another $10,000. to his bottom line every month. Currently, this coffee stand is just being rented out for $1,500 a month. Either way, it’s extra money in your pocket.

Reason for Selling:

Seller wants to retire.

Additional Details:

  • The property is owned.
  • The owner is not 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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