Greg Malik Real Estate
11560 Los Osos Valley Road #190
San Luis Obispo, CA 93405

Description

Long term established as an S Corp in 1989 with same owner since then, operating, profitable, excellent location, superb condition, quality FFE, amenities include long term favorable lease rate, utilized banquet room, strong established community branding with catering expansion opportunities. A complete turn-key operation. This beautifully designed and well-appointed restaurant of approx. 4605 square feet including banquet room, foyer and bar, locate in a busy shopping center . Seating capacity is approx. 180. There are quality and distinctive leasehold improvements which include intimate dining spaces including a fireplace, custom light fixtures, foyer, bar and back bar with wine rack, under counter refrigeration, 10 foot ceilings and more. All this adds up to an eclectic elegance which makes a perfect space for full service dining or even a more casual fast concept. Fully equipped and efficient kitchen with 10 burner, 12 foot type 1 hood and well executed line. 2 ADA bathrooms. Includes a type 41 transferable license. FFE valued at $160K Leasehold Improvements valued at $185,000. Employees : 32 includes 28 part time and 4 full time Owner active 40 hrs per week. Rent: $10,000.+ CAM/Utilities. Includes 4605 sq ft for dining & kitchen space, Term to 2031 includes 3 years + (2) Five year options to renew. Base rent - $2.50 per sq ft. Inventory $40,000. Included at wholesale value Gross Sales : $1,344,752

Details

MLS#SC18203934
Sub-TypeResale
StatusActive
Days On Site32

Features

Story(s)0

Market Activity 93405

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Area Information

StateCA
CountySan Luis Obispo
CitySan Luis Obispo
Zip Code93405
AreaSLO - San Luis Obispo
Listing VS Median (in 93405)
Price:
$375,000
low | high
Med:
$826,950
70.52% of Average
On Site:
32
low | high
Med:
47.5
67.368421052632% of Average
Listing Updated: 09/21/2018
MLS Number: SC18203934
Listing Provided By:
Vivian Hanover  of  Vivian Hanover Broker
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