Description of the business for sale
The business is a full service bar, restaurant and night club on the Gulf Beaches of Pinellas County, Florida. It is open seven days a week and has entertainment every day. There is an extensive menu, featuring breakfasts, lunch and dinner. The business has its own web site featuring pictures, general information, schedule of entertainment and upcoming events, web cam, and blog site for comments from customers and friends.
The restaurant seats 150 and has a 4COP/SRX full liquor license. There are 20 servers or wait staff and cooks, and 4 managers.
The lease includes an option to purchase the property (which is in a Land Trust)with no money down at $10,000/mo. NNN (lesee is responsible for maintenance, taxes and insurance) for 36 months then re-finance at a price to be determined by an MAI appraisal. This option can be exercised at any time during the term of the lease.
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Support / Training provided by seller
Seller will sign a non-compete agreement and provide the necessary training for a new owner at no additionsl expense.
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Description of the facilities
3,355 square feet of space seats 150 plus full bar with 4COP/SRX license.The owner spent in excess of $800,000 in build-out and leasehold improvements before opening in June of 2006. The business has sophisticated point-of-sale (POS) computerized sales and inventory control, and reliable records. - The rent is $5,350/month NNN which includes a contiguous parcel with two small rental properties. There is also additional rent of $2,675/mo. (which includes an option to purchase) for an adjacent building and a large parking lot. There is parking for 40 vehicles.
The business is doing $3,000 a day. Food costs are 32%, and liquor, beer & wine cost are 17.5%. Taxes are $11,000 a year. Utilities are approximately $1,680 a month (electric, gas, water, sewer and trash).
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