Upscale Restaurant With Hard Liquor & Bar in Folsom For Sale

Business description

MAJOR RENT REDUCTION to only $1.45 Sq. Ft. WOW! Selling Restaurants presents this restaurant in Sacramento County which is a staple of the community being established near 20 years ago. It is located in a highly dense section of an historic town and next to a destination hotel. There are 5,450 Sq. Ft. of total restaurant space with a beautiful outside garden patio, private banquet room as well as a bar with a type 47 liquor license. The main dining room holds 116 while the patios/bar hold 86. The restaurant has parking at the hotel level and the street level. The fully equipped kitchen also boasts a wood burning pizza oven. The lease is a 5.5% lease with a minimum of $12,816 and around $1,600 in CAM’s with 1 month and two 5 year options. Seller is currently re-negotiating the terms.

The right buyer has experience operating high volume restaurants. This restaurant not too long ago was doing over $2 million a year; however recent building projects in the area have hurt sales due to scarce parking. The service and product quality have improved despite the outside influences the current owner faces. It is anticipated construction in the area should be complete in about a year. So get this restaurant before the business gets a great boost from the finished construction projects. The buyer must have strong financials to qualify with the landlord; and have the cash ready to do the deal. This is an absolute steal and a seasoned restaurateur will recognize this.

The current owner has refocused his efforts on another segment of the restaurant business with 4 other restaurants in his portfolio and another acquisition anticipated in the near future. This restaurant needs the attention of a full time restaurateur.

Property information

Real Estate:

Lease

Lease terms:

New 10 year w/ 3.5% annual increase

Location:

located in a highly dense section of an historic town and next to a destination hotel

Other information

Expansion potential:

full time owner will increase the profit