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#4895
San Diego

PROFITABLE 70k + - Little Italy Neighborhood - Low Rent - Beer & Wine

$279,999
Sold
PROFITABLE 70k + - Little Italy Neighborhood - Low Rent - Beer & Wine
This Listing is Sold

To Visit This Restaurant Please Select the Golden Button to the Left "Get Name/Address."‚Äč

Outstanding opportunity to get into one of the premier locations in the downtown/ Little Italy area.

This is a corner location with great visibility but without the corner rent factor.

Located in the heart of the downtown/ Little Italy area this is a premier location that rarely becomes available.

Restaurant owner opened up over 10 years ago and has been going strong for years.

Having been in the restaurant business for 30 plus years the owners are ready to step aside and hand this great restaurant space over to the next generation.

Building owner (landlord) is very tenant friendly and now is the time to capitalize on this chance to buy a turnkey restaurant in an area that continues to boom and expand.

Current concept is doing very well; restaurant is California chic with full floor to ceiling windows on two sides, creating an inviting and active atmosphere that customers love.

There is a very nice patio area for diners to enjoy the beautiful scenery and San Diego weather.

Verifiable top line sales for the past three years have averaged nearly 600k.

Net income for the same three years has averaged over 70k at the bottom line.

Lots of opportunity to increase sales/bottom line for new owner willing to increase hours.

Keep the current very well received and reviewed concept or buy it and convert to your own concept. The choice is yours! 

Open kitchen and two separate bar/seating areas in addition to the beautiful dining area, bring this restaurant to life; you really need to see the place to appreciate all that it has to offer.

If you want to bring your own concept to a turnkey location this would be the ideal time and location.

Save the huge time, hassle and expenses associated with building out a new restaurant, depending on the changes you wanted to make you could be open for business here in a matter of weeks.

Restaurant space is 2050 square feet plus the outside patio area and several large storage areas that are yours to use but not included in the sq. footage total.

You will be hard pressed to find a rent like they have here and the space is under lease for the next 15 plus years. Current lease term expires in Jan of 2022 with two five year options available. The space is locked up for a long time.

Rent is only $4132 per month plus $400 CAM fee. Rent factor well under 10% of gross sales.   

Come take a look today by going to www.sellingrestaurants.com to see if this is the restaurant you have been waiting for.

This is a Stone Path Brokerage Services, Inc. DBA Selling Restaurants San Diego listing.
Broker Rob Tade DRE License #01339409

Lease

Region:
San Diego
Lease Term:
expires Jan 2022 plus two five year options
Total Monthly Rent:
$4,132

Financials

Last Year's Annual Gross:
$526,000

Operations

Liquor License:
41
# of Full-Time Employees:
2
# of Part-Time Employees:
10
Hours Open:
11-9 sun-thurs
11-10 fri and sat
Year Established:
2006
Hood System Type 2:
Yes

Facilities

Indoor Seating:
80
Outdoor Seating:
12
# of Parking Spots:
1 reserved
Inside Sq. Ft.:
2050
Outside Sq. Ft.:
150

Highlights

  • Outstanding corner location
  • Heart of the city
  • demographics are just what you are looking for
  • open kitchen
  • huge glass wall windows-visibility is great
  • 2050 sq feet space size is just right
  • rent factor is very good for area
  • Food Cart included in sale
  • generate substantial extra income at local markets

Financing

Will SBA Finance:
No
Will Seller Lend To Buyer:
No
This Listing is Sold

Demographics

Population 1-mi. 3-mi. 5-mi
2014 Total Population 34,318 66,417 355,261
Households 1-mi. 3-mi. 5-mi
2010 Number Of Households 20,599 38,447 151,879
2010 Persons Per Household 1.47 1.58 2.19
Median House Value $448,700 $493,942 $479,053
Income Per Household $52,550 $56,946 $55,375
Businesses 1-mi. 3-mi. 5-mi
2009 Number Of Businesses 3,848 5,592 13,566
2012 Number Of Employees 134,300 179,678 427,386
2012 Total Annual Payroll $3,347,327,000 $4,294,967,295 $4,294,967,295

click for more demographic info

Disclaimer

Notice: The User (that's you reading this) of this Website understands that STONE PATH BROKERAGE SERVICES CORPORATION ("Broker") or its agent(s) do not audit or verify any above information given to or gathered by Broker or its agent(s) from Seller, our Client, or make any warranties or representations as to its accuracy or completeness of the information provided, nor in any way guarantee future business performance. The User should perform a complete and detailed due diligence on the business and or real estate before buying it.  In some cases, foreward looking statements may have been made but these statements are absolutely no guarantees of future performance of the business as each User has differing skills sets to either grow the business or kill the business.  Owning a business is a risky venture, but can also be a rewarding one.  The User of this website is solely responsible to examine and investigate the Business and or real estate, its assets, liabilities, financial statements, tax returns, and any other facts which might influence the User's purchase decision or the price the User is willing to pay. Any decision by User to purchase the Business shall be based solely on User's own investigation and that of User's legal, tax, and other advisors and not that of Broker or its agent(s). Any listing information may change at any time without any notice to User. DRE License # 01339409.

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