Oceanfront Restaurant & Music Club

Listing ID 44886 | Restaurants


Asking Price
$1,800,000

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Seller's Name: Bruce Olson
Phone Number: 541-547-4715

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Financials


Cash Flow
$900,000
Revenue
$900,000
Employees
18
Fixed Asset Value
$0 *
Real Estate Value
$0 *
Inventory Value
$0 *

* included in asking price

Investment Desired
Yes
Loan Desired
Yes
Home Based
No
Re-locatable
No
Startup Business
No
Year Established
1911

Business Details


see www.landmark-yachats.com Live and work in one of the most beautiful and pristine places on Earth! 8200 square feet with spectacular ocean view. Located between an estuary overlooking the Pacific Ocean and busy Highway 101 in the scenic village of Yachats. Operating as a restaurant since 1911 on 1/3 of an acre. Building has been remodeled with new roof, complete outside and inside paint jobs and electrical and plumbing upgrades. Full service restaurant with commercial kitchen that has been extensively upgraded in the past five years. New hood fan, and fire supression system; walk-in cooler with new cooling system attached. Great reputation for Italian and seafood specialties with an ethusiastic and well-trained kitchen staff. Restaurant seats 85 with a loyal customer base of locals and tourists who return to the Oregon Coast year after year. Lounge includes 10-seat bar, booths and tables seating 75. National reputation for quality music with acts from the Northwest and around the country. Full service bar includes five video poker machines, keno and lottery operated by Oregon Lottery. Restaurant and bar both have sweeping views of the ocean and river. Owners well known in town and willing to help with transition. All equipment and furniture included for immediate start. Open 7 days a week breakfast lunch and dinner with late night night menu on weekends. Building also includes a finished two bedroom 1200 square foot apartment with ocean view, a one-bedroom unfinished, 1000 square foot apartment with ocean view and a 325 square foot cooks apartment with an ocean view. Zoned mixed use commercial. Arguably the best ocean view of any restaurant on the coast. Gross revenues have doubled since 2002 under current ownership. Cost of goods sold percentages have been steady at around 34 percent. New equipment and upgrades have added $150,000 in value under current ownership. Ownership is now at retirement age and feel the time is right for new blood to take over a venerable Oregon institution. Offered by owners at $1.8 million. Email [email protected]

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Reason for Selling

Retirement