Spacco Italian Restaurant

Business Opportunity for Sale
Catylist Listing ID: 30424041
Property Subtypes: Food and Beverage
Building Size (RSF): 3,562 SF
Sale Price: $179,000
Name of Establishment: Spacco Bar & Grill
Year Business Established: 2016
Gross Revenue: $0 (Annual)
Cash Flow: $0 (Annual)
Sale Terms: Cash to seller - Possible Owner Financing
Last Updated: 6/17/2019

Overview / Comments

Spacco Italian Grill
6392 Lockwood Ridge Road, Sarasota, FL
Closed Restaurant asset sale for all furniture fixtures and equipment.
Great reviews on Facebook, Google, Yelp and more!
Located in a very busy center at the corner of University Parkway and Lockwood Ridge Road. Join other well-known tenants and busy businesses and take advantage of the high traffic and huge parking numbers.
Large open dining room with tall ceilings surrounded with natural light from floor to ceiling windows allowing for a bright and open dining experience.
Open dining room chefs kitchen with hood & ansul system, ovens.
Rear production kitchen and hood is loaded with great cooking equipment and has has stoves, mixers, friers, pizza oven, dry storage, cold storage, dish pit and lots more!
Stunning reclaimed wood bar, granite countertops with beer taps, liquor and seating with TV.
Seating for 150 people qualifies for the 4COP SRX Liquor License
Large bar runs the length of the dining room giving this space the ability to be many different cuisines if needed!

Lease commencement date October 1, 2016
60 Month Term (5 Years) | NNN Lease
2X 5 Year Options to Renew
Original Base Rent $3,750/m
Operating Expense $949.91/m
Initial Tax Expense Charge $293.86
Sales Tax $349.56
Initial Monthly Payment Subject to Annual Adjustments $5,343.33

Base Rent Increase Schedule:
Year 1: 12.63/ft
Year 2: 16.00/ft
Year 3: 16.48/ft
Year 4: 16.97/ft
Year 5: 17.48/ft
Lease is NNN, Shopping Center expenses and CAM charges are additional to base rent.
Option period rent is subject to increases.

Attachments & Media

Additional Details

Nearest MSA: North Port-Sarasota-Bradenton
County: Manatee
Industry Segment: Restaurants
Reason for Selling: Health
Value of Inventory Included ($): $99,000
Value of Furniture, Fixtures, and Equipment ($): $0
Real Estate Status: Leased
Value of Real Estate Included ($): $0

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,758 78,893 176,406
Median Age: 50.75 46.88 46.53
Households: 3,091 35,004 77,814

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