High-Volume Cafe in prestigious Newport Beach
Located in the buzzing area of a coastal city in southern California, this WELL-KNOWN AND ESTABLISHED full service cafe with spacious seating and patio is for sale. This popular café is a well-loved family restaurant and marketplace, serving the crowd of the Newport Beach community for over 15 years.
The menu options include their top of the line hand-made DELI SANDWICHES that are made with premium Boar’s Head meats and fresh artisan bread. DINNER SPECIALTIES and thin-crust HOMEMADE PIZZAS are the restaurant’s standout for the most customers who have indulged their heart out and are over-the-top happy to leave 5 stars review on Facebook and Yelp. The restaurant also offers many fresh packaged selections that are made in the kitchen every day in addition to a hearty selection of beverages, wines, and beers.
The restaurant offers a strong income and great benefits for a new owner. It generated more than $2,000,000 in sales (prior to Covid), is highly profitable and there is a loyal customer base in the surrounding area with families pouring through the doors for an all-day meal, take-out, and catering service. Sales have been recovering steadily!
DEMOGRAPHICS AND LOCATION:
Newport Beach has an estimated permanent population of 86,738 but during the summer months, the population grows to more than 100,000 with 20,000 to 100,000 tourists daily. The City is known for its fine residential areas, modern shopping facilities, strong business community, and quality school system.
Average household income is $202,176.
The restaurant is situated on the corner of a very busy thoroughfare and surrounded by residential and commercial buildings. Traffic count for this very busy street is over 48,000 vehicles per day.
FACILITIES & OPERATIONS:
The restaurant consists of a large dining area and covered patio. But due to Covid restrictions, it is now at 25% seating capacity.
Rent is $20k per month including CAM with 3 yrs left. Landlord is open to extending lease.
CURRENT MANAGEMENT & LABOR:
Restaurant is absentee run. Owner lives in another state and has highly trained personnel operating the business.
The kitchen is fully operational and equipped to handle high-volume orders.
Sales have been consistent at $2M/yr except for Covid period. Sales have climbed since opening and is still not at full capacity.
More than 50% of revenue is from take-out and delivery.
PROFORMA ANALYSIS: (if ran at industry standards)
Using most recent monthly sales figures of $143,315/month or $1,719,780/yr (post-covid figures):
Rent 14% $20,000 actual figure
Labor 30% $42,995 proforma industry standards
COG 30% $42,995 proforma industry standards
Misc. 10% $14,315 proforma industry standards
Total 85% $120,305 total monthly expenses
Monthly profit: $143,315-$120,305= $23,010 or $276,120
2020: $1.185,443 as of August 2020
See sales by month
January 2020 $160, 278
February 2020 $156, 560
March 2020 $117,135 Covid
April 2020 $90, 631 Covid
May 2020 $117,169 Covid
June 2020 $131,490 Covid
July 2020 $125,605 Covid
August 2020 $143,260 Covid
September 2020 $143,315
*** PRIOR RESTAURANT EXPERIENCE AND PROOF OF FUNDS REQUIRED before disclosing address***
Submit offers to Jerry@PacificRB.com with Proof of Funds, or call (949) 427-0304 with any questions.
Food & Beverage Industry Related Sales & Leasing
2901 W. Coast Highway, Suite 200 Newport Beach, CA 92663
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