Newly Remodeled Restauran $30,000 Rent Credit For Sale

Business description

Newly Remodeled Restaurant on Shattuck Avenue near UC Berkeley $30,000 RENT CREDIT

RRC#: 1640
Asking Price: $99,000
Location: Shattuck Avenue, Berkeley, California
Yearly Revenue: $336,000
Yearly Cash Flow: Contact For Info
Monthly Rent: $6,800 all inclusive

LISTING DESCRIPTION:
A beautifully designed restaurant in a prime Shattuck Avenue location blocks from UC Berkeley which was recently remodeled at a cost of over $400,000. The restaurant has a very upbeat decor with high ceilings and tile floors and could be converted into a number of different concepts. There is a display kitchen, main dining room, salad bar area and outdoor seating area. Some of the equipment includes as follows: 16' type 1 hood with fire suppresion system, rice cooker and warmer, stock pot burner, 4 burners over oven, 2 double basket fryers, full door refrigerator, 2-2- door under counter refrigerators, (1 with sandwich station), microwave, food warmer, 3 door under counter refrigerator, 2 hand sinks, 3 full door freezer, 2 compartment sink, 3 compartment sink, 2 full door freezer, walk-in refrigerator, mop sink, full door freezer, 2 DVD TV's, POS system with 2 monitors + 3 printers, 3 door under counter refrigerator + sandwich station, ice machine, 3 compartment steam table, 6' infrared flat grill and 1 door under counter refrigerator, etc. There is also a large storage area, office area and 2 ADA restrooms. The current owner is absentee and a hands on owner operator coupled with a new menu concept could maximize this opportunity. THE NAME AND MENU ARE NOT INCLUDED. THE SELLER WILL GIVE THE BUYER A $30,000 RENT CREDIT AT THE CLOSE OF ESCROW (this means that the the total cash rquired by the buyer at the close of escrow will be reduced by $30,000).

GENERAL INFORMATION:
Organization: Corporation | Seating: 50+ | Square Footage: 1,800 | Parking: Street | Licenses Required: Business | Days Open/Hours: 6 / M-SA 8a-8p | Reason For Sale: Other interests |

FINANCIAL INFORMATION:
Yearly Revenues: $336,000 |

LEASE INFORMATION:
Monthly Rent: $6,800 all inclusive | Lease Expiration: 2017 | Yearly Adjustment: CPI | Lease Option: 3 Five Year Options |

FINANCING INFORMATION: