Attention Experienced Restaurateurs!
This Classic American Diner offers a great opportunity to bring your concept to a location in one of Sacramento’s most desirable neighborhoods! The restaurant benefits from its Southside Park location which is just a block off the busy R Street Corridor Dining and Entertainment district, and just 4 blocks from the Capitol and Downtown. Southside Park is a mixed residential and business community located southwest of Downtown and bordered by 12th Street to the East, I-5 to the West, Biz 80 to the South and R Street to the North. It is also one of Sacramento’s oldest and historic neighborhoods. Businesses in the area include some of Sacramento most well-known Bars, Coffeehouses and Restaurants, all within a block or two of the subject location. The area is also home to Sacramento’s biggest weekend Farmers Market which brings in thousands of people from outside the immediate area on weekends.
The restaurant is in a recently updated freestanding building with a classic American Diner style. It features a full kitchen with seating for approx. 140 in booths and at the built-in counter. The building has been recently painted inside and out, and has a new roof and HVAC system. It also has a very desirable amenity for this area which is its own dedicated parking lot with approx. 30 spaces off street parking. This is a big plus for those busy weekend brunch rushes!
The building space is approx 4,008 sf and has a fully equipped kitchen including a large Hood/Ansul, walk-ins and all the equipment you need for almost any concept. The assets in place are offered as a package for $50k asking price. Assets purchase is not a condition of the Lease, but this is a bargain in relation to the cost and time associated with replacing the equipment and getting permits to install new.
While this opportunity represents a low cost of entry, the next owner should be well-capitalized and experienced with restaurant management. The restaurant has been a breakfast & lunch place for many years but any concept that can benefit from the great location and amenities in place is welcome. The Trade name is not included in the available assets, so this is ready for a conversion to a new concept.
The Landlord has proposed a new Lease with the following terms for a qualified Buyer.
Proposed Lease Terms: 5 Year Initial Term + one 5-yr Option
Rent: $2.60sf base + $.40sf CAM/NNN = Total Rent approx. $12,113/mo
Annual CPI Increases of 3% to Base Rent starting in year 3 and continuing through the Option period.
Tenant can have a First Right of Refusal to Purchase the property if desired.
Interested? Please contact the Broker to request additional details and to arrange a tour.
We look forward to talking with you about this exciting opportunity!
