$249,000
530 University Ave San Diego, CA 92103
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$249,000
Est. payment /mo
UPDATED:
09/30/2024 06:37 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 240019728SD
HOA Y/N No
Property Description
For Sale: Thriving Japanese Restaurant & Bar in Prime Hillcrest Location Price: $299,000/ Price Reduction - $249,000. Key Financial Highlights (2023): Total Sales: $1,016,100 (including sales tax & tips) Sales: $869,150 (excluding sales tax & tips) Net Income: $120,000 absentee run; $250,000 with part-time owner involvement Operational Details: Hours: 4 PM to 10 PM Owner Involvement: Owner and spouse each work 2 days a week, supported by additional staff on weekends High Margins: Full tip table service system with no sharing, ensuring strong profitability Lease Details: Base Rent: $5,590/month CAM: $1,000/month Lease Term: Expires 06/30/2025 with options for renewal Location & Market Advantages: Features : The establishment possesses a Type 41 Beer & Wine license, hood, grease trap and all FF&E included. For Sale: Thriving Japanese Restaurant & Bar in Prime Hillcrest Location Price: $299,000/ Price Reduction - $249,000. Step into ownership of a thriving Japanese restaurant and bar in the heart of Hillcrest, one of San Diego’s most vibrant and diverse neighborhoods. This 2,100 SF establishment has been successfully operated by the same owners for 9 years, boasting a stable and loyal workforce. Key Financial Highlights (2023): Total Sales: $1,016,100 (including sales tax & tips) Sales: $869,150 (excluding sales tax & tips) Net Income: $120,000 absentee run; $250,000 with part-time owner involvement Operational Details: Hours: 4 PM to 10 PM Owner Involvement: Owner and spouse each work 2 days a week, supported by additional staff on weekends High Margins: Full tip table service system with no sharing, ensuring strong profitability Lease Details: Base Rent: $5,590/month CAM: $1,000/month Lease Term: Expires 06/30/2025 with options for renewal Location & Market Advantages: Prime Location: Situated on University Ave, Hillcrest, a bustling area with a Walk Score of 97, making it a "Walker’s Paradise." The location benefits from heavy foot and vehicle traffic, with over 26,000 vehicles passing daily. Demographics: The surrounding area boasts strong consumer spending, with over $1.05 billion spent on food and alcohol within a 3-mile radius annually. The population within this radius is over 236,000, with a median household income of $83,321, highlighting a customer base with significant disposable income. Features : The establishment possesses a Type 41 Beer & Wine license and a bar with 8 seats. It boasts an impressive array of front-of-house equipment, including a 3-compartment bar sink, a 6-tap two-door beer cooler, a sake machine, a hot water pot, a 48" undercounter refrigerator, a bar ice bin, and 2 POS systems with 3 printers (1 printer in the kitchen). Furthermore, the property features high-capacity HVAC with new water heater, 2 bathrooms, dry storage with server prep/packaging area, and 2 extra-large outdoor storage areas (one with AC). The kitchen is well-equipped with a Type 1, 10-foot hood, a 15-inch char broiler, 6 burners with an oven, a two-hole Chinese wok, a three-door sandwich prep cooler, a two-door sandwich prep cooler, a microwave, an ice machine, a large walk-in cooler, and a 49 cu. ft. two-door freezer. Additionally, there is a 50-gallon grease trap in the basement and an owner-owned dishwasher. The dishwasher room and bathroom were completely remodeled with new a 3-compartment sink, wall and flooring in May 2024. This exceptional opportunity to own a thriving Japanese restaurant and bar in a prime location should not be missed. For further information or to schedule a viewing, please contact us promptly. This is a rare opportunity to own a well-established, profitable restaurant in a high-demand area with significant growth potential. Don’t miss your chance to take over this successful business and benefit from its prime location and robust customer base. Contact us today for more information or to schedule a viewing!
Location
State CA
County San Diego
Area 92103 - Mission Hills
Interior
Inclusions , , ,
Fireplace No
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Listed by Crystal Lee • American Real Estate Group
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