Well Established and Very Profitable Restaurant Monterey

Price: $700,000

Location: Monterey, CA

Industry: Restaurants and Other Eating Places

Listing ID: C4302

Listing Status: Reduced Price

Description

Description/Additional Terms: 
If you are ready to live the California dream and own one of the area’s most successful and established restaurants, AND live in one of the most beautiful areas on the Pacific Coast, this may be just what you are looking for. Nestled in a prime location in a gorgeous section of the Monterey Peninsula, this restaurant utilizes fresh farm produce and local area seafood to bring award-winning recipes to every diner’s table. Thousands of great ratings on Yelp, Facebook, and Google attest to the staying power and quality of this eatery. Close proximity to the world famous Monterey Bay Aquarium as well as Cannery Row. Current owner working very part time.
Can seat up to 80 including outside dining. One hood. ABC type 41 beer and wine license. ADA compliant.

Gross sales: $2,223,009. 3-year weighted average. (2020 and 2022 gross includes tax and tips, with appropriate expense items.)
SDE: $372,048 3-year weighted average.
Price: $700,000 + inventory at cost. Approx. $20,000.
Size: Seats up to 80.
Lease: Currently $5505 + 6%. Negotiate new with landlord.

HIGHLY CONFIDENTIAL. CALL OR EMAIL BROKER DIRECTLY FOR NDA. 
PROOF OF FUNDS AVAILABLE REQUIRED.

Broker: Rex Walters, CBB, PhD
Certified Business Broker 
831-239-2080
scbusinessbroker@gmail.com
Lic. # 01841628

LISTING DETAILS

Total Sales: $2,223,009

Cash Flow: $372,048

Inventory: $20,000

Inventory Included: No

Operation

Employees: 14

Location

Monthly Rent: $5,505

Summary

Reason For Sale:

Seller wishes to slow down and retire

Financing/Terms:

Some possible for approved buyer

LISTING BROKER

Rex Walters, PHD

Rex Walters, PHD