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Restaurant And Bar In Newport Beach For Sale

Newport Beach, California - South
Asking Price:
$795,000 (USD) Furniture / Fixtures included
Sales Revenue:
$3,000,000 (USD)
Cash Flow:
Not applicable

This upscale Newport Beach / Laguna Beach corridor restaurant and bar commands one of Orange County’s most sought after beachside locations. With its Pacific Coast Highway visibility, outdoor patio with partial beach views, entitlements that include a full bar with liquor and live entertainment, private dining room and nearby parking structures, this venue has all of the attributes a buyer may want when branding a high-profile flagship hospitality venue.

This 3,500 square foot facility with an outdoor patio and seating for 80 patron leases for $25,000 per month on a 5 year lease with 2 five year options remaining. While the exact concept, name and menu will not be included in the sale, all of the venue’s furniture, fixtures, equipment, Type 47 Liquor License, entitlements and potentially a good portion of its goodwill (should a buyer implement a similar concept) will be included. Approximately $20,000 in liquor inventory will be sold at cost at close in addition to purchase price.

Property information

Real Estate:

Lease

Business Operation

Expansion Potential:

New management may wish to take this concept in any number of directions. The venue’s upscale build-out and versatile layout lend themselves to any number of beachside-chic concepts. Alternately, a new operator may wish to convert the facility to a fast casual venue if they feel their concept will draw and merit the volume.

Competition / Market:

While competition exists in this highly popular resident and tourist area, it remains somewhat limited due to the area’s natural geography. More importantly, this venue commands one of the most prominent locations in this exclusive area, that only a few competing venues could potentially match.

Reasons for selling:

Personal

Employees:
60pt
Years established:
2014

Other Information

Support & training:

2 Weeks at 20 hrs/wk

Furniture / Fixtures value:
$100,000 (USD) - included in the asking price
Inventory / Stock value:
$20,000 (USD)

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