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Listed by:

Coldwell Banker Bain

Million Dollar Restaurant In Washington For Sale

Washington
Asking Price:
$520,000 (USD) Furniture / Fixtures included
Sales Revenue:
$1,751,074 (USD)
Cash Flow:
$1 (USD)

A major well-known restaurant and bar for sale. Almost 20 years established pushing two million in sales annually, consistently. For the large part, it has a captive customer base yet is just minutes to downtown Seattle or anywhere on the Eastside. So, this is really a great location!
At almost 10,000 square feet and a seating capacity of 260, this can accommodate even the largest of parties. Even some outdoor patio seating is available. The furniture, fixtures, and décor are top class all the way. Offers a full bar/ lounge that seats about 70.
This fully equipped kitchen can do it all and take on pretty much any food concept. Has large walk-in refrigeration units one freezer and one refrigerator and lots of dry storage space. So, this is a great opportunity for a new owner, all the tools to be successful are in place already.
Current owner is almost absentee, meaning the sales would be EVEN HIGHER if an owner-operator was in place to manage on a day to day basis. A more hands-on owner would also be able to better utilize the labor force in a more productive and less costly manner. With the size of this restaurant and the high sales volume that this restaurant achieves every month, an experienced restaurant owner/ buyer is preferred.
Currently, open 7 days a week and serves breakfast, lunch, and dinner but there is still really good potential to expand on the already high sales. Because the current owner is not part of the day to day operations, delivery sales are being missed out on. With a loyal customer that goes back almost 20 years and a somewhat captive customer base, there is surely some big sales numbers being missed out on by not offering a delivery service on the menu. Another new item to the menu that should be added is some catering options. Currently catering is not being marketed or done. With this great location that is centrally located and this fully equipped kitchen, you could be a dominant player in the catering game if you wanted to play.
This restaurant is a first-class high end build out, for sure. Even the monthly lease is very good considering this location and the size of this restaurant and lounge. Lots of time and options left on the lease as well. Fifty to sixty parking spaces available in garage parking. Little or no competition anywhere close by, especially if this restaurant fully flexes its muscles and utilizes all that it has to offer.
Seller wants to retire so is motivated to make a win, win deal for a qualified buyer. He’s even willing to offer some seller financing for the right buyer. This restaurant has it all, location, size, fully equipped kitchen, full bar and lounge, solid lease, almost 20 years established with a loyal customer base. Email us to get more information or to set up a tour.

Property Information

Real Estate:

Lease

Lease Terms:

The current lease expires June 2023 and two times 5 yrs options

Lease Rent:
$156,000 (USD) per sq ft per annum
Location:

A major well-known restaurant and bar for sale. Almost 20 years established pushing two million in sales annually, consistently. For the large part, it has a captive customer base yet is just minutes to downtown Seattle or anywhere on the Eastside. So, this is really a great location!

Premises Details:

A major well-known restaurant and bar for sale. Almost 20 years established pushing two million in sales annually, consistently. For the large part, it has a captive customer base yet is just minutes to downtown Seattle or anywhere on the Eastside. So, this is really a great location!

Size in square feet:
9,930

Business Operation

Expansion Potential:

Current owner is almost absentee, meaning the sales would be EVEN HIGHER if an owner-operator was in place to manage on a day to day basis. A more hands-on owner would also be able to better utilize the labor force in a more productive and less costly manner. Current ownership/ management is not even touching the catering market dollars or the delivery service market dollars. Here are two very big areas of missed possible sales.

Competition / Market:

There is NO similar competition of size and ability to this restaurant anywhere close by.

Reasons for selling:

Seller wants to retire

Trading hours:

9m to 11pm 7 days a week

Employees:
40
Years established:
2001

Other Information

Support & training:

2 weeks training offered but it is negotiable

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

at least 70% of purchase price cash down and even then, strictly a case by case basis

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