Fine Dining Italian Restaurant

This fine dining Italian Restaurant has been a Santa Barbara landmark for close to 20 years. Located across the street from the Harbor with rent that is unmatched anywhere in Santa Barbara this is an opportunity that can't miss. The seller has started a winery in the Santa Ynez area and wants to concentrate his time there. With a great chef and long term employees this would be a great fit for a seasoned restarauteur looking to grow by acquisition or an experienced chef looking to create his own concept. Santa Barbara, know as the "Riviera of the West Coast" boasts many restaurants, hotels and attractions to draw in tourists from around the world but also has become one of THE destinations for "Staycations" that have become popular recently. Home to a diverse audience including actors, actresses, politicians, businesspeople and tourists the restaurant is perfectly located on the main waterfront street in town among many hotels and motels, the harbor and Stearns Wharf. This restaurant is only open for dinner and the sales continue to be strong even though they have suffered some during our recession.

Industry:  Food and Beverage
Industry Segment:  Restaurants
Geography:  United States > California > Santa Barbara
Asking Price:  $399,000
Gross Revenue:  $935,206
Value of Inventory:  $10,000 (Included in Asking Price)
Value of Equipment:  $200,000 (Included in Asking Price)
Seller Financing:  200,000
Year Established:  1990
Number of Employees:  20 full time -
Mgmt. Training/Support:  2 weeks at 40 hours per week
Reason For Selling:  Concentrate on Winery
Facilities:  This ocean view restaurant has 2000 sq ft in beautiful Santa barbara for only $3.00 per sq ft. Landlord will happily give a new lease with similar terms to a new buyer.
Market Outlook/Competition:  This restaurant is across the street from the harbor and major tourist attractions and surrounded by hotels and motels.
Name:  Rex Paul
Email:  info@khaminc.com