Washington DC Area Upscale Restaurant, Bar, Posh Lounge w/Live Music

Washington DC Area Upscale Restaurant, Bar, Posh Lounge w/Live Music Venue, Hookah, 80-Seat Patio & for Sale – High Profit – Great Books

NAME/CONCEPT: Washington DC Area Upscale Restaurant, Bar, Posh Lounge w/Live Music Venue, Hookah, 80-Seat Patio & for Sale

Area: Washington DC area minutes to everywhere. The restaurant is the jewel of the County and is the only restaurant in its class in the entire area. This is a wise investment for someone who has the time and desires to operate an extremely busy restaurant.

SIZE/TYPE/SEATING BREAKDOWN:
7000 square feet
96 seats in the dining room
101 seats in the lounge/bar area
22 seats in the Private Dining Room
80 seats on the outdoor patio

RENTAL RATE/TERMS/OPTIONS:
Rent $10,469.30
Property Tax $4,166.02
Insurance $2202.10
CAM $2,245.30 (Common Area Maintenance)
Total: $17,101.23

OPERATING HISTORY: Opened almost ten years ago. The total cost to open was: $2,479,539

$1,449,082.91 for furniture, equipment, and leasehold improvements
Approximately $41,164 for food and alcoholic beverages
Approximately $21,124 for marketing
Approximately $3,720 for professional licensing fees/permits
Approximately $15,000 for uniforms
Security deposit: $17,025
Other: $257,049

No loans

VOLUME/NET Profit:
Total revenue (2021): $2,577,123
Net Income: $494,034
Owners’ salaries were deferred.

On pace to do $3 million in 2022
Total Revenue YTD (2022): $1,819,447
Net Income YTD (2022): $682,358

GM Salary: $60,000
AGM: $54,000
Executive Chef: $54,080

HOURS OF OPERATION:
Monday: 4PM-10PM
Tues-Wed: 4PM-11PM
Thurs: 4PM-12AM
Fri: 4PM-12AM
Sat: 11AM-12AM
Sun: 11AM-5PM

SELLING PRICE: $1,400,000