Steakhouse With Full Bar & Type Forty Seven For Sale

Business description

This Steakhouse was recently completely professionally built from the ground-up and includes a 40' full bar with a hand carved antique oak bar back found in old English bars (not included in the sales, but will remain with the real estate), extra high ceilings with ceiling fans, crown molding and beautiful appointed flooring throughout. This is a great location and a great restaurant! The food is fabulous, as the sales indicate! This restaurant opened about 18 months ago to strong sales and sales have remained strong at the $55,000+ per month range but there is plenty of upside with locals and travelers that frequent the restaurant. This restaurant could easily become a destination location in no time. The owners, who also own the real estate, have never operated a restaurant before and would like to immediately get a professional restaurant operator in the business and grow from the sales already established. There are about 3,000 Sq. Ft. on this corner lot on a main street about 0.5 miles from Highway 5. The owner will provide a new 5 year lease with a 5 year option. The rent is 7% of gross sales with a minimum amount of only $5,000 per month plus NNN. At today's sales the rent is less than 9% of gross sales. A professional restaurant owner could certainly grow this business to reduce the rent to 7% of gross sales.

Property information

Real Estate:

Lease

Lease terms:

$5000/mo Base minimum rent is $5,000/Month Term 5+5 option. Percentage rent at 7% due on annual revenues. Additional is due when annual sales exceed $857,142. new lease 5+5

Contact the seller