Details - Information last confirmed on March 18, 2021
This well-established San Diego restaurant chain has been a local favorite for over 20 years. The extraordinarily popular 3-unit chain boasts coveted locations in some of San Diego’s most popular areas, including one multi-use beach area property that is being offered in the sale. The concept is centered around fresh, healthy, simple and “tasty” food. Each location is a consistent earner that is professionally operated and a staple in its community.
The businesses operate from 3 ideally suited locations in prime areas. The first is housed in a 2,500 square foot restaurant facility with 3 residential rental units (1 - 3 bedroom and 2 – 1 bedrooms) on top. This prime beach area real estate is owned and available. The second location is in a 4,000 square foot facility plus a patio that leases for $12,000 per month on a lease through 2023 with two 5-year options. The third is in a 2,500 square foot facility plus a patio. It leases for $9,000 per month on a lease through 2025 with two 5-year options. All of the assets are owned, including beer and wine licenses, are and will be included in the sale. The real estate is only being offered in conjunction with a business sale. $20,000 in estimated inventory will be sold at cost in addition to the purchase price.
Competition naturally exists as new restaurant concepts are regularly introduced throughout San Diego. This concept has become a well-known brand that has amassed a loyal following over the past 20 years. Although many have tried to emulate their formula for success, they are not highly susceptible to the impact of new competitors.
These well-established locations are perennial earners still have significant growth potential. Because they are daytime only locations that are known as breakfast and lunch menus, enormous opportunity exists for an operator to extend hours into the evening or to even introduce a dinner service. With the brand’s brand recognition and accompanying accolades, new locations may also be identified and opened throughout the greater San Diego region or beyond. Similarly, management may also wish to explore licensing the name and concept.
The property of one location may be included in the sale. Along with the restaurant, it includes 3 apartments in one of the city’s most sought after beach areas. The apartments may be renovated and leased for significantly more than their current lease rates. Once accomplished the property’s capitalized value may increase considerably, while diversifying the investment’s cash flow stream. With this decreased risk, more attractive returns may be achieved than a typical mixed-use retail and residential real estate interest would typically provide.
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Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness. This listing does not constitute an offer to sell, solicit or make an offer to buy an investment interest. Offers to sell, or the solicitation of offers to buy, any security can only be made through official offering documents, such as a subscription agreement and private placement memorandum.