High Profile Restaurant & Bar in Prime Downtown Location
We are pleased to offer this successful restaurant & bar location ready for an experienced restaurateur looking for entry into the best block in the Downtown area. This restaurant is front and center in in a great Downtown location within walking distance to all major Event Venues, Hotels, and the State Capitol. This established business could continue with the current lively and successful concept with a name change, or this could be considered for a cost-effective conversion to a new concept that would benefit from a highly visible location with a history of proven success. The sale includes an ABC Type 47 Full Liquor License. The location is prime for nightlife and has holds an entertainment permit (Buyer to personally qualify with the City if plans include entertainment). The space is approx 5,600sf with interior capacity of 300+/- plus a patio area that allows customers to enjoy people watching from this busy pedestrian filled area. The facility has an exhibition kitchen, and showcase bar, all outfitted with top quality equipment. The investment to build-out and open was nearly $3 million, making the offering price an outstanding value at a fraction of the cost to create a restaurant of this quality. Base Rent is $16,744 + $3500 CAM/NNN = Total Rent $20,244/mo. There is a great Lease in place until Nov 2026 with two 5-year options to extend. There is plenty of storage and much more usable space than the rent would indicate. The Landlord has proven to be very reasonable to work with during Covid restrictions. Currently base rent is discounted to $6000/mo + CAM/NNN through November 2021 to accommodate for building back after Covid restrictions are eased. The next owner will benefit from the excellent reputation and large amount of goodwill built into the location. Downtown has been hard hit by the pandemic but with the pending re-opening of the remodeled and expanded Convention Center and Performing Arts Center, along with the revival of the Golden One Arena, Crest Theater and Sacramento’s other venues, Downtown is positioned to rebound strongly as the Covid restrictions continue to ease. Confidential financial information is available to be shared with qualified prospective buyers as a benchmark for this location’s ability to generate high volume and profitability. Pre-Covid sales were over $3Million annually. Interested? Please complete the Confidentiality Agreement/NDA form to get started. Once we receive your Confidentiality Agreement, we will send you information with the street address and a profile sheet to review with other details. Tours are by appointment only, so please Do Not Disturb the business or staff. We look forward to talking with you about this exciting opportunity!