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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
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:
$800,000
Down payment:
$160,000
Financing:
$160,000 cash down, and a new SBA loan of $640,000 (10 Yrs, at 8% = $7,764.97 P/M)
Training:
As needed