Peninsula Tavern With Beer Garden Outdoor Seating Of 120; $3.3 Million

Peninsula Tavern With Beer Garden Outdoor Seating Of 120; $3.3 Million In Sales And $298,000 Profit

RRC#: 3810
Asking Price: Offered At $625,000
Location: San Mateo County
Annual Revenue: $3,392,525
Annual Cash Flow: $298,192
Monthly Rent: $18,517 + CAM

Listing Description:
This one-of-a-kind mid-peninsula tavern with an ABC Type 47 Full Liquor License has many strong points, including its ample, gorgeous outdoor space. The outdoor beer garden can accommodate 120, and is situated over a creek-like water feature with waterfalls and adjacent to lush green space. It's a beautiful seating area under any circumstances, but is a particularly attractive feature of the business in pandemic conditions. The indoor seating area is also spacious and attractive. It was remodeled in 2016, at a cost of over $1 million, and the design features great natural light, beautiful hardwood floors, elegant tile, cozy gas fireplace and a wraparound bar. It also has new plumbing and electricity, a new HVAC unit, and brought up to current building codes. In addition to the outdoor space and the main dining area, there is a separate private dining room that can host up to 60 for a cocktail party/34 for a sit-down meal. The entire space has been rented out as event venue or just the outdoor space. There are endless event possibilities. Parking lot is abundant. The tavern is located in an area with a high household income, where the locals like to frequent the local businesses and watering holes. Currently, the menu features contemporary California comfort food, 24 beers on tap, and a craft cocktail program. It is known as a trendy gastropub that serves delicious drinks and tasty grub. The sales over the past three years have a steady upward trend with increases year over year. 2017 sales = $3,172,818. 2018 sales = $3,251,101. 2019 sales = $3,392,525. The current lease runs through 2031 and has a 5-year option, with 3% fixed increases throughout the initial term and the option period. The landlord will consider adding pandemic-related protections into the lease for the right buyer. The restaurant is fully furnished and kitchen is fully equipped and an equipment list is available upon request.

General Information:
Established: 2016
Current Owner: Contact For Info
Employees: Contact For Info
Reason For Sale: Other Interests

Financial Information:
Monthly Revenue: $282,710
Monthly Cash Flow: $24,849
Annual Revenue: $3,392,525
Annual Cash Flow: $298,192
Payroll: Contact For Info