Last Revised: 9/13/19. Posting #: 246057
Key Words: cafe, bars, sacramento, convert
Financial Info: Price: Negotiable. Down: $50,000. Rent: $7,000/month + $1,025/month NNN = $8,025/month. If tenant's use requires an Entertainment Permit, the proposed rent shall be $2.00/sq. ft. + NNN. 3-year initial term with 3% annual increases, 5-year option to extend at FMR. Security Deposit: 3 months.
Profile: We are pleased to offer this opportunity to acquire a fully built-out restaurant within the heart of thriving Downtown Sacramento.
This 4,100 sf +/- restaurant and bar enjoys a prime spot within walking distance to the Downtown Arena and is situated between the busy J Street corridor and 'The Kay' dining district, an area which is home to many of the area's most popular and successful restaurants and bars.
The restaurant formerly operated as 'Blackbird' and for a short time as 'Bar Rouse' before closing permanently in late 2017. While this opportunity represents a very low cost of entry, the buyer must be both experienced and well-qualified financially in order to qualify as a replacement tenant for this sought-after downtown location.
As a conversion, with the expensive and required improvements, fixtures, and permits already in place, the next occupant will save many months of time on plans, permits, construction, and inspections, along with the substantial initial investment ($2.00+ PSF) required to build-out a restaurant of this quality and size. With a strong business plan, there is flexibility for the next concept. This location has a great mix of both commercial and residential population to draw from. In addition to lunch and dinner business, there is a night life element in the area to tap into. The restaurant is within walking distance of entertainment venues including Cesar Chavez Park where the Downtown Association hosts a popular Summer Concert Series (1 block), the Sacramento Convention Center (3 blocks), and the new Golden 1 Center Downtown Arena (2 1/2 blocks). In addition to street parking, Garages and Light Rail are nearby.
Facility: 4,100 sq. ft. +/- occupying two levels (approximately 2,800 sq. ft. downstairs + 1,300 sq. ft. loft/upstairs) and basement. Occupancy X Interior. No dedicated parking.
Rent: Offered Rent at $1.71/sq. ft. + approximately $.25/sq. ft. NNN = Rent: $7,000/month base + $1,025/month NNN = Total Rent $8,025/month. If tenant's use requires an Entertainment Permit, the proposed rent shall be $2.00/sq. ft. + NNN.
Terms: Offering 3-year initial Term with 3% annual increases and 5-year Option to extend at FMR. All permanently attached fixtures remain property of the Landlord, including the Hood System, Walk-Ins, Sinks, Bar and Bar Fixtures. Use of the Furniture and Equipment within the premises is included with the Lease or it is offered for sale @ $50,000 (excluding the permanently attached fixtures). See FF&E List for full details. Security Deposit is 3 Months' Rent (deposit amount subject to change based on Tenant's qualifications). No Tenant Improvement Contribution is offered.
Interested? Please contact us for more information and to arrange site tour!
Professional Resources & Contacts To Help You Close Your Deal!
Profile: Sugaer is a strategic business advisory firm that helps business owners start and grow great businesses, and exit at maximum value. Our firm works with organizations across the business lifecycle, positioning them to prosper over the long term. Expertise in growth/value building, M&A, due diligence.
Key Words: russell logan, sugaer, business intermediary, mergers and acquisitions intermediary, due diligence, consultant, value building, bakery, cafe
Profile: I founded BizBen and BizBenNetwork to make the process of buying and selling small to mid-sized businesses more efficiently. I currently head up the Facilitator team at BizBenNetwork where we assist BBN Members with connecting with others to facilitate a deal. Thanks for using BizBenNetwork!
Key Words: BizBen, BizBenNetwork, facilitator, advisor, consultant, peter siegel, siegel, bbn
Profile: Willard Michlin is a business broker for 23 years. As a CPA & Certified Fraud Examiner, he works with buyers to get a FREE market valuation as well as full industry & financial due diligence on businesses they are interested in buying. He also offers FREE do-it-yourself due diligence training.
Key Words: willard michlin, due-diligence, due diligence, michlin, kismet
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