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For Sale Restaurant In Santa Cruz County, California

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Contact: Datta Khalsa at 831-462-4000 - Log In To Message/Email This Contact
Last Revised: 9/25/19. Posting #: 256170
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High SDC  
Key Words: cafe, santa cruz
Financial Info: Price: $750,000. Down: $375,000. Annual Revenues: $2,117,336. TI Buildout 2 years in the making at cost of over $1,000,000 including FF&E. Rent: $7,200/month + $1,600 NNN/CAOE. Rent Rate: $2.83/sq. ft. including NNN/CAOE. Lease: in first 5-year initial term with 3 additional 5-year options.
Profile: Stand-Alone Modern Restaurant with Parking on High-Visibility Corner.

Prime opportunity to bypass the two years it takes to develop a space in Santa Cruz and take over a turn-key upscale restaurant operation for substantially less than it cost to build. This was a brand new build-out with over $1,000,000 invested, including Furniture, Fixtures and Equipment.

Starting in 2017, the process took approximately 2 years, including a full interior architectural redesign. The restaurant opened to rave reviews and an instant following and was on track to surpass well over $2 Million of Gross Sales in its first year before unexpected forces intervened.

The stand-alone facility offers 3,000 sq. ft. curated by award-winning designer Greg Bleier with seating for 90, provisioned with high-end accoutrements for patrons and staff alike, and served by 33 off-street parking spaces. Also features a large enclosed street-side patio, perfect for weekend brunches.

High-end turn-key operation with custom milled tables, built-in furniture, sleek coffee and wine counters, luxurious open kitchen, central Bose stereo system, state-of-the-art security and POS systems and top-of-the-line espresso suite installed to specifications of Verve coffee roasters.

There is a very good lease in place in its first 5 years with 3 additional 5-year options to extend, and great landlord who has expressed a willingness to work with an incoming operator to facilitate a smooth transition.

Seller is is available to help with management during transition. Would also consider long-range partnership and participation in the daily operations under more experienced oversight and guidance of a new financial partner.

Summary:

*Modern Facility on High Visibility Corner
*Rent: $7,200/month +$1,600 NNN/CAOE
*Rent Rate: $2.83/sq. ft. including NNN/CAOE
*In first 5-year initial term with 3 additional 5-year options
*Stand-alone building with private parking for 33
*Large hood, grease trap, and walk-in cooler and freezer
*Type 41 ABC License in place

Partial List of Costs Invested:

*Over $320,000 Kitchen Package, Architecture, Design Fees, Tile, Lighting.
*Over $100,000 in furniture and equipment included
*Over $550,000 invested in structural TI's alone

Ownership would consider taking on a partner with deeper restaurant experience and financial capacity.

Stated Annual Gross is Pro Forma estimate based on actual sales during the 15 weeks the business was open as a franchise (December thru March).

Professional Resources & Contacts To Help You Close Your Deal!

Contact: Willard Michlin at 805-428-2063   Log In To Message/Email This Contributor
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
Pro Advisor  
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Contact: Russell Logan at 703-786-8783, 703-786-8783 (Cell)   Log In To Message/Email This Contributor
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
Pro Intermediary  
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Contact: Peter Siegel, MBA at 925-701-8064 X313, 925-785-3118 (Cell)   Log In To Message/Email This Contributor
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
Pro Advisor  
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Contact: Mike Brewer at 800-437-1100   Log In To Message/Email This Contributor
Profile: If your business involves alcoholic beverage sales, we can help. Obtaining a liquor license transfer or selling a business with a license in California does not have to be a frustrating and overwhelming process. We have procured thousands of licenses for our clients.
Key Words: mike brewer, liquor license, liquor licenses, abc, license broker, liquor license brokers
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Contributor: Jordan Green at 925-701-8064 X314   Log In To Message/Email This Contributor
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