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Seaside, Monterey County, California
Asking Price
$329,000
Revenue
Call/Email
Down
Call/Email
Cash Flow
Call/Email
Reason for sale:
Owners are ready to retire.
Posting ID:
5919230
Business Category:
Restaurants & Food
Business Types:
Diner, Family Restaurant
Attributes:
Broker Cooperation
Training And Support
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This Northern California Full-Service Casual Dining Restaurant is a California S Corporation and was started 2.5 years ago by the current owner and has been popular and growing ever since. They are open from 11am to 9pm Monday through Friday and 9am to 9pm on Saturday and Sunday. They offer in-house full-service dining, along with private events and catering services as well. They have a Type 41 ABC license, serving beer and wine. They offer “from scratch dining” by partnering with local vendors to bring in the freshest ingredients supporting their community while delivering exceptional flavor in every dish. The Sellers have decades of restaurant experience, and every recipe they have has been perfected through decades in the restaurant business, bringing authentic home-style tastes to your table. This restaurant has become a local favorite through its rustic atmosphere, exceptional service and quality ingredients. This is a perfect spot for a romantic dinner or family gathering. Financial Information $475,000 Asking Price $200,000 Cash Flow $1,000,000 Gross Revenue $475,000 Down Payment $200,000 Adjusted EBITDA Business Location City: Northern California State: California Reason for Sale The reason the Seller is selling is to pursue other interests. Detailed information Year Established: 2023 Home Based: No Franchise: No Relocatable: No Lender Prequalified: No SBA Prequalified: No Part-Time Employees: 20 Contractors: N/A Owner Worked Hours/w: 30 Inventory Included: Yes Inventory Value: $8,000 Monthly Rent: $4,590 Real Estate Available: No Real Estate Included: No Real Estate Value: N/A Building Size: 2800 FF&E Included?: Yes FF&E Value: $100,000 Training/Support The Seller is willing to provide training at 30 hours per week for 2 weeks for the new Owner. Additional training may be provided at mutually agreed upon terms between the Buyer and the Seller. Facilities They currently operate out of a 2,800 square foot space with a base rent of $4,590 per month and monthly CAM charges of $1,400. The current lease is 5 years with a 5-year option, and it is assignable. The location of the restaurant is ideal and on Main Street in the town they are located in. Market Outlook/Competition Casual dining restaurants hold a staggering 72% market share in the Full-Service Restaurants Market due to their broader cuisine choices, diverse menus, and greater accessibility. These establishments cater to a wide range of tastes, offering everything from comfort food to international cuisine, making them appeal to diverse customer preferences. The North America Full-Service Restaurants (FSR) Market is expected to grow at a 2.5% CAGR during the forecast period 2025 to 2032. CA 02100708; NV 1003039
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