Palm Desert Restaurant For Sale: Successful Upscale Italian in Desert Resort Area with Hard Liquor

$20K PRICE REDUCTION!! Selling Restaurants invites you to preview this jewel of a fine dining Italian restaurant located in the greater Palm Springs area of Riverside County. Are you tired of your hard work making others money? Then take a look at this opportunity! Walk with me past the ornately landscaped 800 sf outdoor patio, that seats 40, and through the glass front doors, where you are immediately struck by the old Italian looking beautifully decorated bar area serving your favorite cocktail, beer or wine beverage. This elegantly decorated restaurant has a dining area seating 120, along with kitchen, prep and storage area totaling 3,358 square feet, with plenty of parking in the rear. The combination of great food, exquisite ambiance and a dynamite location, explains the success they have enjoyed for nearly 20 years! The Seller states that they have averaged over $600k in sales over the past 3 years, buyer is to confirm this, as Selling Restaurants does not verify. Profit and loss statements available to qualified buyers. You could keep the existing Italian food or easily change it to French Cuisine, a Bistro type Steakhouse operation or another concept because this is a AAA location. The owners currently take a two month European vacation each year and close down the restaurant, however,as the new owner, you could increase sales considerably by staying open the extra two months. The restaurant is only open for dinner! Additional sales and profits could also be generated by opening daily for breakfast and lunch; featuring fresh baked pastries, designer coffees, refreshing salads, unique sandwiches and daily specials. Catering events, such as wedding receptions, social parties and corporate events, will also increase profits. The asking price includes a full 47 liquor license, a completely equipped kitchen, extra storage area, and a new POS system, costing over $20K. There are 4 years remaining on the current lease plus a 5 year option. The current rent is $10,463 with NNN & CAM included. The unit next door may also be available for lease and could be used for banquet facilities or additional dining area.
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Demographics

Population	3-mi.	5-mi
2014 Total Population	37,513	44,547
Households	3-mi.	5-mi
2010 Number Of Households	15,037	17,639
2010 Persons Per Household	2.09	2.05
Median House Value	$297,500	$341,872
Income Per Household	$49,446	$54,585
Businesses	3-mi.	5-mi
2009 Number Of Businesses	1,490	1,681
2012 Number Of Employees	37,174	45,548
2012 Total Annual Payroll	$551,173,000	$691,888,000

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