Neighborhood: North Beach
Price: $150,000
Size: 1,475 sq ft plus 1,000 sq ft basement
Available: 4/15/09 (now vacant)
Rent: $5,150/month
Lease: 8 years remaining
- Last issued liquor license in North Beach
- Excellent location just off Columbus
- Surrounded by bars and pubs
- Flat rent amount for 8 years
- Massive Storage Space
- Seller Financing available with $50,000 down payment
Description: This is a great opportunity to operate a restaurant on a busy North Beach street, with excellent terms. Rent for this space is $5150/month with 3% annual increases and there are 7.5 years remaining on the lease. This has been a popular seafood restaurant for the past 2 years, but the owner must consolidate to 1 location on the Peninsula. The business has not been operating since January. Owner runs a very successful seafood restaurant in Redwood City but he couldn't make it work in North Beach. He tried to cater to families, he closed at 8:30 PM and his menu was quite expensive compared to the rest of the area. A different concept can do very well here. There is a pizza parlor next door, about 5 Italian food restaurants, a wine bar, a pub, a dance club and a bakery on the same block. This street has great foot traffic in the evenings and weekends.
Owner will finance sale with a minimum $50,000 down payment. Asking price includes all equipment except dishwasher machine which is leased. Owner will reduce price if buyer doesn't need equipment.
This restaurant has the last issued beer & wine (type 41) license in North Beach. A few businesses close by have closed due to lack of a liquor license. License was renewed in May 2009.