Business For Sale

Santa Monica Restaurant - w/Beer, Wine!

Santa Monica, CA
Los Angeles County


Asking Price: Annual Revenue:
$595,000 Not Disclosed

Food & Beverage: Restaurants, Fast Food, Deli


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RE: Santa Monica Restaurant - w/Beer, Wine! Broker: Ryan Clark

Quick Facts

Asking Price: $595,000
Annual Revenue: Not Disclosed
Net Profit: Not Disclosed
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: 2015
Employees: Not Disclosed
BBN Listing #: 35544929
Broker Reference #: 3rdPie

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Business Overview:

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.

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Property Features and Assets:

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 (approximately) 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.

Market Competition and Expansion:

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. 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.

Reason for Selling:

Personal

Additional Details:

  • The property is leased.
  • 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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