#1571
San Bernardino Restaurants For Sale

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

$250,000

$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.
Don't hesitate to click on the orange buttons below, register and receive additional photos and the restaurant's location and address. As a preferred client, you will also receive priority emails when we have a new listing or a price reduction before they are released to the general public.

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

Lease

Region:

San Bernardino Restaurants For Sale

Lease Term:

expires May 2013 + 5yr option

Total Monthly Rent:

$8,395

Financials

Last Year's Annual Gross:

$546,532

Last Year's Food Cost %:

Last Year's Payroll Cost %:

Last Year's Rent %:

Operations

Liquor License:

# of Full-Time Employees:

# of Part-Time Employees:

# of Family Employees:

Hours Open:

5pm to 9pm 7 days
closed June and July

Year Established:

1990

Hood System Type 1:

Yes

Facilities

Indoor Seating:

120

Outdoor Seating:

# of Parking Spots:

Inside Sq. Ft.:

3,358

Outside Sq. Ft.:

800

Highlights

Fine Dining At It
Located On Major Blvd!
Great Parking!
Out Door Patio Area!
Beautiful Bar With 47 Liquor License!
High Check Average!
Only Open 10 Months A Year!
Add More Profit, Open For Breakfast & Lunch!
Next Door Available For Expansion!

Financing

Will SBA Finance:

Will Seller Lend To Buyer:

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

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, forward 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.