Red Restaurant and Bar

Restaurant and Bar in Santa Cruz County

Overview

The Red Restaurant and Bar occupies the second floor of the former Santa Cruz Hotel, built in 1877 it’s Santa Cruz’s oldest commercial building. There’s access by a carpeted stairway and an elevator. The business is open daily 5:00 p.m. to 1:30 a.m. Food is served until midnight. Bar sales make up 83% of the revenue.  The elegantly furnished interior has a lot of red – upholstered couches and chairs, carpets, walls and lighting.  The dining area features a gas fireplace open on two sides.  Large clerestories let in natural light.  There’s a long L-shaped bar with an ornate back bar.  The owner of the restaurant also owns the building and is willing to write a five year lease with a five year option.  All the equipment and furniture will be included in the premises lease and will remain with the premises after the expiration of the lease.  The buyer can have the owner remove any furnishings not wanted or add more that are stored offsite.  Sales have averaged over $1.5MM a year and will be verified by sales tax returns.  In addition to a Type 47 ABC license, the business also has a Type 58 Caterer Permit and a Type 68 Portable Bar license. 

 

The information was provided by the Seller of the business and independently verified by the Buyer. The subject business has been sold and is currently off the market. If you’re interested in selling your business, Bay Area Business Brokers is ready to help. We offer complimentary consultation and valuation.

Please let us know if you have any questions. You can reach us at (408) 246-3846 or babizbkr@gmail.com. We have been matching buyers and sellers since 1981. To view our current listings, please visit https://bayareabizbrokers.com/businesses-for-sale/.