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Steak House & Bar - Galleria Area


This is a beautiful full service restaurant & bar serving certified kosher steaks, sea food, and delicious sushi.  They also do a lot of corporate catering.  The restaurant seats 120 plus people.  They have a fully equipped kitchen with walk-in coolers and freezers, a large main dining room, and a full service bar.  Lunch represents approximately 20% of the business, dinner 60%, and catering 20%.  They frequently offer live entertainment on weekends and special events.  The owner will train a new owner as needed.  There is a general manager and a head chef who are capable of running the operation along with the 16 other employees.  



Listed By: Jeffrey Jones

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Background information

Reference:

82375

Year established:

2014

Reason selling:

The owner wants to pursue commercial real estate investments.

Finance

Sales:

$1,349,999

Profits:

$240,269

Profit type:

Discretionary Earnings

Operations

Employees:

There are 18 employees including a general manager..

Equipment:

See list in file

Inventory:

$65,000 food and beverage

Premises

Facility:

The business is located in a shopping center on a busy street. There is ample parking and good visibility. The restaurant has a full service bar and large dining room.

Square footage:

3500

Rent and lease terms:

Base rent is $5,833.33 P/M. Gross rent with CAM is $7,586.33 P/M. Lease expires 9/30/23. There is one five year options to renew at $6,416.66 p/m. .

Location:

Bellaire Area

Price and terms

Price:

$550,000

Down payment:

$100,000

Financing:

$100,000 cash down, and a new SBA loan of $450,000 (10 Yrs, at 7% = $5,524.88 P/M)

Training:

As needed

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