EMPIRE KOREAN STEAKHOUSE & BAR SALE-LEASEBACK OPPORTUNITY – Listing Details

Coldwell Banker Commercial Devonshire Realty (CBCDR) is proud to exclusively offer this recently renovated restaurant building with a new operating restaurant sale lease-back opportunity. Empire Korean Steakhouse & Bar operates at the property after undergoing an extensive $1M remodel. The finished remodel includes exterior updates (fresh paint), interior updates (dining/bar area demo, new partitions, new floor tile & marble/granite finishes, 30 new hot pot tables, new chairs, bar/counter installation, new kitchen equipment and appliances) and electrical (new lighting & receptacles), mechanical (exhaust fan), and plumbing updates. At closing, Seller/Tenant will execute a 20-year Absolute NNN lease with Buyer at $156,000 annually with 10% rent increases every 5 years. There would be no Landlord expenses. The layout consists of a full commercial kitchen, customer seating for 172 in multiple dining areas and a bar area, and 2 ADA-compliant restrooms. The kitchen contains 3 hood ventilation systems (1-4’ hood, 1-13’ hood, and 1-7.5’ hood), 1 walk-in beer cooler (6’ x 11’), 1 walk-in cooler (12’ x 14.5’), 2 walk-in freezers (both 6.5’ x 11’), and a 3-compartment sink. Also, there is a private office, storage room, and 2 employee restrooms in the kitchen area.