FOR SALE: 3,140 sf Restaurant & Bar at The Forum in SATX!
OFFERED AT $130,000
Restaurant Realty Group has been exclusively retained to offer for sale a fresh 3,140 sf restaurant and bar located at The Forum in Northeast San Antonio, one of Texas's Largest Shopping Centers. The restaurant is in a well-positioned, highly visible end-cap space with plenty of visibility, traffic and parking. The interior is very fresh and modern and currently configured for line-service much like a Chipotle or FreebIrd's. It includes a full service bar and a large exterior patio. This is a great market and great space to enter the San Antonio market or expand your current concept.
Photographs
The following photographs represent the current condition of the restaurant space and the property inside.
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Furniture, Fixtures & Equipment (FF&E)
The cost of starting a restaurant from scratch is HUGE. Fundamentals like heating, air conditioning, vent hoods, plumbing, electrical, grease traps, sewage and fire suppressant systems cost far more than many people realize. For example, starting with a 3100 SF shell, tenants in the San Antonio area typically pay anywhere from $ 400,000 to $900,000, and up, for a complete build out... making it much less expensive for independent and small chain operators to purchase an existing restaurant operation than to start from a shell.
This is an asset sale. It includes all of the furniture, all of the fixtures, and all of the equipment inside of the space... including dining room tables and chairs, barstools, vent hoods, walk-in refrigeration, grease trap, equipment, smallwares, audio system, POS system, security system, and much more.
Plans Equipment List.pdf
Lease Summary
Current lease structure is a base lease plus triple net expenses (taxes, insurance, and maintenance). The new owner of the restaurant will be assigned the current lease, with LL approval. Please contact us for a copy of the lease.
Commencement: 09/17/2013
Size: 3,140 sf
Base Lease
Year 1-5: $7,329.67 (28.00/sf)
Year 6-10: $7,850.00 ($30.00/sf) (Current term)
Year 11-15: $8,3730.34 ($32.00/sf)
Year 16-20: $8,896.67 ($34.00/sf)
Triple Nets: Approx $9.00/sf
Current Lease with NNNs is $ 9,635.78
The broker for the landlord is currently quoting $40/sf for shell space at The Forum..
Location Information
The restaurant is located at 8251 Agora Parkway, Suite 101, Selma TX 78154, and is currently operated as TRIO Modern Mediterrean. It's strategically located in a high visibility space with abundant parking.
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Demographic Data
The following demographic report provides valuable information and insights specific to TRIO Modern Mediterranean, broken down into the traditional one, three and five mile rings. The report is in-depth and interactive. Move the mouse over pictures and graphs for additional information. Please, take your time and study this information. If you have a current location, or locations, you wish us to compare in a report, please contact us and we will be happy to work with you.
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Financials
The business is not for sale. The buyer will need to start a new concept in this space. However, the seller is happy to provide financial information to potential buyers so that they may see sales, utilities, etc. Please contact us for more information.
Contact Information
If you are a qualified buyer with further interest in this business, please contact us. We'll be happy to help you with any questions, comments, concerns or requests that you have. If you would like to schedule a tour of the space, please propose two dates and times in the "Comment" box and we will do our best to accommodate you.
Broker Info
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DISCLAIMER: The above information was supplied by the seller and has not been verified by broker. Broker makes no representation about the accuracy or completeness of the information and does not guarantee future performance. It is the responsibility of a prospective buyer to make their own inspection of all financial and other business records, and to seek independent financial and legal counsel regarding any purchase of this business and/or real estate.
