Popular, Well Located Mexican Restaurant and Bar
** Another Successful Sale **
Listing ID: RES-MKA$99,000
Monterey, CaliforniaHave a Question?
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Established over 20 years ago, this family owned restaurant offers a location in a high traffic Monterey location and sports a fiesta atmosphere. Serving authentic Mexican dishes, the restaurant is best known for its fresh made, quality food.
With seating for 150+ for lunch and dinner, the layout of the 5,000 + square feet is flexible, with a large bar area, featuring 3 big screen TV’s, a separate dining room and outdoor patio. The restaurant boasts one of the largest kitchens available in the area.
Open seven days a week, the business has a thriving clientele of local sports fans who flock to the restaurant to watch the latest football, soccer and UFC fight events. There is the potential for the venue to obtain a Live Music permit to allow the opportunity for significant incremental income from popular live bands, both local and regional.
Earlier this year, this restaurant was sold to an experienced new owner who invested his purchase price plus approximately $250,000 to upgrade the restaurant and bring it into ADA compliance. The space is perfect in its current Mexican theme, or can easily be converted to your concept or expanded as a sports bar to capitalize on the current large client base. The owner estimates the restaurant needs approximately 60 days to finish the improvements and be ready to open. Detailed architectural plans are available, and all permits are in place.
Unfortunately, serious personal family issues have resulted in the owner needing to quickly sell the restaurant
The price of only $99,00 includes both an onsite and offsite liquor license and Live Music permit. This price is substantially less than the current owner’s acquisition cost and cost of the recent improvements. SBA financing with only 10% down may possibly be available. Landlord willing to provide very favorable lease terms.
For more information email us at [email protected] or call us today at (831) 625-5581.