Restaurant And Lounge In San Jose For Sale

Business description

Successful, profitable restaurant and bar for 46 years in the same location! Full service American food restaurant seats 105, lounge & banquet room has capacity for 100. Located on major expressway in pad building on the morning drive side, good entrances to the large common parking lot in neighborhood center. Inside looks fresh with quality improvements. Large walk-in refrigerator and walk-in freezer plus big dry storage. Good cookline with large class 1 hood.

Lounge features Karaoke 5 nights a week and sometimes a live musician one or two nights. Banquet room is often used during the day and for parties in the evenings and weekends.

An experienced restaurant/bar operator who observes the business will be pleased when he figures out how much money this place is making.

Property information

Real Estate:

Lease

Lease terms:

New 5-year lease with 5-year option starting at $4,500 per month plus $280 water charge.

Leasehold rent:

$54,000 per annum

Leasehold rent:

$12 per sq ft per annum

Location:

On major expressway in pad building right next to expressway in 10th largest city in the USA.

Premises details:

4,500 square foot restaurant (2,500) and bar (2,000)

Size in square feet:

large neighborhood center

Planning consent:

This has been in operation since 1975, so no problems likely with the Planning Department!!!

Business Operation

Expansion potential:

Can add catering and delivery. Possible takeover of adjacent restaurant space.

Competition / Market:

Lots of restaurants in the area - has not mattered for 46 years, tho!

Reasons for selling:

Owner wants to retire after 32 years owning and operating this business.

Trading hours:

Restaurant: 7:00AM to 10:00PM, 7 days
Lounge: 11:00AM to 2:00AM Monday - Friday, 9:00AM - 2:00AM Saturday & Sunday

Employees:

13 FT, 4 PT

Years established:

46

Other information

Support & training:

Owner will train 2 weeks @ 20 hours per week