Listing ID: 77169
Real Property is available for purchase!
This is a golden opportunity to own an iconic Northern California boutique and beachside hotel, restaurant, and bar business!!!
Property – This iconic property in a coveted coastal Northern California locale includes scenic patios, all new kitchen equipment, beautiful bar, restaurant, and hotel. In addition, the property includes a small, independent music venue that showcases the business’ robust music program. The surrounding natural beauty, myriad outdoor activities, and the exceptional culinary scene make the area a destination for visitors year-round.
The establishment offers a total of 4500 sf of operational space, plus 500 sf of patio seating. Current owners have made significant investments in life-safety, structural, mechanical and finishes. The property offers an essentially new structure that retains irreplicable historic character and excellent attributes for indoor-outdoor dining, versatile Covid-rule response and beautiful guest experiences.
Business – This iconic establishment has a very strong brand, loyal year-round clientele and booming seasonal business. The 47-liquor license is exclusive in the locale.
A major expansion of usable space and a reimagined service concept more than doubled revenue in 2021, despite operating at partial capacity due to COVID-19. Full life-safety and structural upgrades position the next owner for a range of exciting business developments. Solid revenue streams in the hotel, bar and restaurant have been proven and leave room for growth.
The hotel saw a large jump in occupancy in 2021 despite a corresponding increase in room rates. Guests have demonstrated a strong demand for the unique, high-quality experiences at this establishment and in the region, and there are many opportunities to expand those offerings. With the desirability of the location and the comfort and aesthetic upgrades, hotel demand is expected to continue to rise. The rooms, while comfortable today, leave room for a designer’s vision. Residential and commercial zoning allows for a unique live/work arrangement.
- Asking Price: $750,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: N/A
- Property Owned or Leased:Own
- Property Included:N/A
- Building Square Footage:4,500
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
Sellers wish to allocate more time to family and personal life.
No immediate competition in the area. This business is the only bar and hotel in town.
A new owner will benefit from the recent expansion of usable space (e.g. patio and kitchen) and development of premium food and drink menu.
Why is the Current Owner Selling The Business?
There are all sorts of reasons people resolve to sell businesses. Nonetheless, the true factor and the one they say to you may be 2 entirely different things. For instance, they may state "I have too many various obligations" or "I am retiring". For lots of sellers, these factors are valid. But, for some, these might just be justifications to attempt to hide the reality of transforming demographics, increased competitors, current decrease in incomes, or a variety of other factors. This is why it is extremely crucial that you not count totally on a vendor's word, but rather, make use of the vendor's solution along with your total due diligence. This will paint an extra practical picture of the business's current situation.
Existing Debts and Future Obligations
If the existing business is in debt, which numerous companies are, then you will need to consider this when valuating/preparing your deal. Lots of businesses finance loans with the purpose of covering things such as inventory, payroll, accounts payable, so on and so forth. Keep in mind that in some cases this can indicate that profit margins are too tight. Numerous companies come under a revolving door of taking loans as a way to pay back various other loans. In addition to debts, there may additionally be future obligations to think about. There may be an outstanding lease on tools or the building where the business resides. The business might have existing agreements with suppliers that should be met or may cause penalties if terminated early.
Understanding the Customer Base, Competition and Area Demographics
Just how do operating businesses in the area bring in brand-new consumers? Often times, operating businesses have repeat consumers, which form the core of their day-to-day revenues. Particular factors such as brand-new competition sprouting up around the area, road building, and employee turn over can influence repeat customers and also adversely affect future earnings. One important point to think about is the location of the business. Is it in a very trafficked shopping center, or is it hidden from the main road? Obviously, the more individuals that see the business on a regular basis, the better the opportunity to develop a returning customer base. A last thought is the general location demographics. Is the business placed in a densely populated city, or is it located on the edge of town? How might the regional median family earnings impact future earnings potential?