Asking Price: $250,000

Gross Revenue: $624,000

Cash Flow: $120,000

Inventory: $10,000 (Not Included in Asking Price)

FF&E: $300,000 (Included in Asking Price)

This bar was built by five business men that work in the Cleveland down town area. They opened for business in September of 2007. They have no experience in this type of business, but thought it would be a nice place to hang out and have lunch. Everything is brand new and very attractive. They are the only downtown Bar & Grill that also has a patio with seating for 30.
License is a D-1, D-2, D-3, D-3A.. A D-6 is also available but they are only open 5 days a week. The hours of operation are Monday thru Wednesday 11:00 AM to 10:00 PM, Thursday and Friday 11:00 AM to 2:30 AM. Closed on Saturday and Sunday.
They have 1,398 sq. ft. with seating of 54 inside and an additional 30 on the patio. The commencement of the lease is 12- 01-07. They have an 84 month lease. That is a seven year lease that expires on November 30, 2014. The rent is $1,447.92 per month plus an additional $882.08 for CAM totaling $2,330.00 per month. There ios a percentage rent of 5% for anything over $1.5 million.
For the short time that they have been opened they are doing average $12,000.00 per week or $2,400.00 per day for five days a week. They expect to gross over $624,000.00 for the year. 50% of that gross is food.
There are 5 full time employees and 4 part time employees. This is an ideal situation for an owner operator that knows how to handle the kitchen.

Year Established: 2007

Employees: 5 full time - 4 part time

Reason For Selling: Being Run Absentee