Steak House & Lounge (High Volume) Daly City,California

Daly City, CA (San Mateo County)

Steak House & Lounge (High Volume)  Daly City,California
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Asking Price: $650,000

Cash Flow: N/A

Gross Revenue: $2,400,000


FF&E: $0

Inventory: N/A

Established: 1950

Steak House & Lounge (High Volume) Daly City,California

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Business Description

High Volume Steak House & Lounge in Daly City,California

The restaurant & lounge is located in San Mateo County, California, in the very busiest area, off 280. The success & history of this Restaurant & Lounge dates back to 1950 and has been in the present ownership since 1975. After 45 years, the owners now wish to retire and pass on their highly successful business to new owners. The building is 4289 square foot & the lot is 10,000 sq ft. The ambiance of stepping back into the history & grandeur runs throughout. Ample parking. The current menu serves lunch, dinner.

All the furniture, fixtures, and fittings are in excellent condition & the lounge, which seats 80. The dining room creates a beautiful atmosphere, seating 120. There is a full ABC Type 47 hard liquor license included with annual sales of $2.4 + million and very decent discretionary cash-flow with a scope to increase business volume, control costs, and increase profit.

*Lease: 5/5 (New lease can be negotiated with property owners)
*Licenses: Type 47 Liquor License, Health Permit & Seller's permit .
*Employees: 12 full time & 13 part-time.
*The current hour of Operation during the COVID-19 pandemic 11 am-7:30 pm.
*Regular hours before pandemic:
Restaurant Hours: Mon-Fri 11am-3pm, Saturday:10am -3pm, 4pm - 9:30pm Sunday: 4pm-9:30pm
*Bar Hours: Sun-Wed Open until midnight Thurs-Sat Open until 2 am.

2016- $2,452,000
2017- $2,430,000
2018- $ 2,430,000
2019- $ 2.4+ Million.

Profit & loss statements of business available for qualified buyers. NDA required. No-NDA No-Information.

Detailed Information

Daly City, CA
Reason for Selling:
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Manjit Singh

Business Listed By:
Manjit Singh

Mission Peak Brokers, Inc.

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