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Asking Price: $1,400,000

Washington DC Area Upscale Restaurant, Bar, Music

Washington, DC
Not disclosed

Washington DC Area Upscale Restaurant, Bar, Posh Lounge w/Live Music Venue, Hookah, 80-Seat Patio & for Sale – High Profit – Great BooksNAME/CONCEPT: Washington DC Area Upscale Restaurant, Bar, Posh Lounge w/Live Music Venue, Hookah, 80-Seat Patio & for SaleArea: 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 feet96 seats in the dining room101 seats in the lounge/bar area22 seats in the Private Dining Room80 seats on the outdoor patioRENTAL RATE/TERMS/OPTIONS:Rent $10,469.30Property Tax $4,166.02Insurance $2202.10CAM $2,245.30 (Common Area Maintenance)Total: $17,101.23OPERATING HISTORY: Opened almost ten years ago. The total cost to open was: $2,479,539$1,449,082.91 for furniture, equipment, and leasehold improvementsApproximately $41,164 for food and alcoholic beveragesApproximately $21,124 for marketingApproximately $3,720 for professional licensing fees/permitsApproximately $15,000 for uniforms Security deposit: $17,025Other: $257,049No loansVOLUME/NET Profit:Total revenue (2021): $2,577,123Net Income: $494,034Owners’ salaries were deferred.On pace to do $3 million in 2022Total Revenue YTD (2022): $1,819,447Net Income YTD (2022): $682,358GM Salary: $60,000AGM: $54,000Executive Chef: $54,080HOURS OF OPERATION: Monday: 4PM-10PMTues-Wed: 4PM-11PMThurs: 4PM-12AMFri: 4PM-12AMSat: 11AM-12AMSun: 11AM-5PMSELLING PRICE: $1,400,000

Cash Flow $494,034
Revenue $2,577,123

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