CALIFORNIA COMMERCIAL BROKERS, INC.
RESTAURANT SPECIALISTS
CONFIDENTIAL: AVAILABLE,“READY TO GO” Cucina Roma Italian Restaurant
1773 Newport Avenue, Costa Mesa, CA 92627
Excellent LOCATION: This boutique Italian restaurant is located in the retail district of Newport Avenue in Costa Mesa. It is located approximately 2 blocks toward the ocean from Triangle Square and has an upscale destination restaurant (Golden Truffle) and a high volume gastropub (The Hub) within 75 feet of this restaurant. There is street parking directly in front of the restaurant. This is a “Destination” location, with high visibility from Newport Avenue traffic.
CURRENT BUSINESS: The owner / seller of this restaurant business has owned the business since2014. Total store sales for 2016were approximately $870,000., and 2017 annualized sales are slightly higher than 2016. Annual Cash Flow 2016was approximately15%. Financial statements will be provided to a Buyeras part of a response to a bona fide Purchase Offer.
DESCRIPTION: This is a typical Italian décor restaurant. It is 3300sf with 100 permitted seats inside, plus another 16 seats on the front (outside) patio. The restaurant businesswill be sold in “as is” condition, with all FF&E, and all utilities, in good working order. This is a “turnkey” restaurant business opportunity, including the transfer of the name and logo/trade dressitems, if the buyer wants to continue to operate the restaurant under the name Cucina Roma. The interior of the restaurant is in excellent condition, clean, and all equipment is in very good condition. There is no leased equipment in the restaurant.The restaurant is currently open for business, and has all of the necessary licenses and permits. The restaurant has a Type 47 Liq. Lic. which permits the restaurant to be open until 2 am daily. Please visit their website for more information on this excellent Italian restaurant, .
EXISTINGLEASE: The existing lease expires April 2018. The sale would be contingent upon the Buyer negotiating a new lease with the Landlord. The current lease has the following terms: Monthly Rent: $9,225 NNN. withcurrentmonthly NNN expenses of approximately $1100. Lease Term: one year. There is no percentage rent clause in the existing lease. The landlord requires a financially secure tenant with solid restaurant operating experience. The landlord prefers an Italian restaurant concept. It will be the Buyer’s responsibility to negotiate a new lease as condition of purchasing this restaurant.
PURCHASE PRICE: $195,000 for the leasehold interest, FF&E, and the Type 47 Liquor License. The “package” being offered for sale includes: (1) the turn-key restaurant business, (2) the Type 47 Liquor License, (3)all of the FF&E in the restaurant, and (4) the opportunity to continue the restaurant as a Cucina Roma operation. The Selling Price does not include the food and liquor inventories.
Confidentiality is very important!! Please do not contact any employees within the restaurant!!!
For further information, please contact:
Jack M. Anderson
CALIFORNIA COMMERCIAL BROKERS, INC.
5100 Birch Street, Suite 100
Newport Beach, CA 92660
Tel: 949.660.7711