Oceanside Bar & Grill on in Capitola with Great View

Capitola, CA (Santa Cruz County)

Seller Financing Available
Oceanside Bar & Grill on in Capitola with Great View
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Asking Price: $329,000

Cash Flow: N/A

Gross Revenue: $1,238,716

EBITDA: N/A

FF&E: $0

Inventory: $5,000

Rent: $9,500 per Month

Established: 2018

Oceanside Bar & Grill on in Capitola with Great View

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Business Description

Overlooking Monterey Bay, Sotola Bar and Grill located at 231 Esplanade in Capitola, has a spectacular ocean/beach view from its dining room and two patios. It has a separate bar with a type 47 ABC license. The current ownership took over in December 2018 and had revenue of $1.2MM in their first year. In 2020, even though the business was only open 8.5 months and for 3 months operated without indoor dining , it still had revenue of nearly $900,000 with 65% food and 35% bar. The outlook for post-Covid business is very good. Total seating capacity is 85 and the business has become a popular venue for holiday and birthday parties. The lease with its options runs through January 2030 and has a reduced rent for the slower months of October through March. The sellers own other restaurants and this one has been run absentee. This is a great opportunity for a restaurateur who would like to have his own operation in a beautiful, affluent area. Seller financing is available for a qualified buyer.

Detailed Information

Location:
Capitola, CA
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
2,200
Lease Expiration:
1/31/2023
Employees:
8 f/t & 17 p/t
Facilities:
The restaurant has a main dining room, a separate bar and two patios. It was recently remodeled and new equipment was added.
Financing:
$100,000 for 36 months @6%
Support & Training:
20 hours
Reason for Selling:
Doesn't fit the corporate model
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Sponsoring Broker:
Bob Brooks

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