Washington DC Area Upscale Restaurant, Bar, Music

Washington, DC


Asking Price: Annual Revenue:
$1,400,000 $2,577,123

Food & Beverage: Bars, Clubs, Nightspots


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RE: Washington DC Area Upscale Restaurant, Bar, Music Broker: Steve Josovitz
License #: 164878

Quick Facts

Asking Price: $1,400,000
Annual Revenue: $2,577,123
Net Profit: Not Disclosed
Cash Flow: $494,034
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: 2012
Employees: Not Disclosed
BBN Listing #: 805229193
Broker Reference #: 5049

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Business Overview:

Washington DC Area Upscale Restaurant, Bar, Posh Lounge w/Live Music Venue, Hookah, 80-Seat Patio & for Sale – High Profit – Great Books

NAME/CONCEPT: Washington DC Area Upscale Restaurant, Bar, Posh Lounge w/Live Music Venue, Hookah, 80-Seat Patio & for Sale

Area: Washington DC area minutes to everywhere. The restaurant is the jewel of the County and is the only restaurant in its class in the entire area. This is a wise investment for someone who has the time and desires to operate an extremely busy restaurant.

SIZE/TYPE/SEATING BREAKDOWN:
7,000 square feet
96 seats in the dining room
101 seats in the lounge/bar area
22 seats in the Private Dining Room
80 seats on the outdoor patio

RENTAL RATE/TERMS/OPTIONS:
Rent $10,469.30
Property Tax $4,166.02
Insurance $2202.10
CAM $2,245.30 (Common Area Maintenance)
Total: $17,101.23

OPERATING HISTORY: Opened almost ten years ago. The total cost to open was: $2,479,539

$1,449,082.91 for furniture, equipment, and leasehold improvements
Approximately $41,164 for food and alcoholic beverages
Approximately $21,124 for marketing
Approximately $3,720 for professional licensing fees/permits
Approximately $15,000 for uniforms
Security deposit: $17,025
Other: $257,049

No loans

VOLUME/NET Profit:
Total revenue (2021): $2,577,123
Net Income: $494,034
Owners’ salaries were deferred.

On pace to do $3 million in 2022
Total Revenue YTD (2022): $1,819,447
Net Income YTD (2022): $682,358

GM Salary: $60,000
AGM: $54,000
Executive Chef: $54,080

HOURS OF OPERATION:
Monday: 4PM-10PM
Tues-Wed: 4PM-11PM
Thurs: 4PM-12AM
Fri: 4PM-12AM
Sat: 11AM-12AM
Sun: 11AM-5PM

SELLING PRICE: $1,400,000


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Property Features and Assets:

$1,449,082.91 for furniture, equipment, and leasehold improvements. Approximately $41,164 for food and alcoholic beverages Approximately $21,124 for marketing Approximately $3,720 for professional licensing fees/permits Approximately $15,000 for uniforms Security deposit: $17,025 Other: $257,049 SIZE/TYPE/SEATING BREAKDOWN: 7,000 square feet 96 seats in the dining room 101 seats in the lounge/bar area 22 seats in the Private Dining Room 80 seats on the outdoor patio RENTAL RATE/TERMS/OPTIONS: Rent $10,469.30 Property Tax $4,166.02 Insurance $2202.10 CAM $2,245.30 (Common Area Maintenance) Total: $17,101.23

Market Competition and Expansion:

Ask broker for details.

Reason for Selling:

Other business interests.

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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