Turnkey restaurant in Prime Palo Alto location

#1049
Area: Palo Alto
Asking Price:$340,000
Base Rent: $15,619.39/mo
NNN: $1,071.92/mo
Lease Term: Ends on December 31, 2028
Option Lease Term: Negotiable, subject to the landlord’s consent.
Size: 2,675 sq ft
Annual Rent Increase: 3%
Percentage Rent: 5%
Security Deposit: $10,000.00
Business Established: 2015
Seating Capacity: 77
Liquor License: Type 41 (On-Sale Beer & Wine - Eating Place)
Parking: Street parking
Reason for Selling: Withdrawal from the US market

Here's a rare chance to take over a fully built-out restaurant in the heart of downtown Palo Alto's main dining corridor. The ±2,675 SF space seats 77 guests and comes ready to operate. It has an extensive Type-1 hood system (9', 12' and 13' sections) plus a Type-2 hood, a walk-in cooler, an above-ground grease trap, two restrooms and a Type 41 beer and wine license. Most of the costly infrastructure is already in place, so a new operator can skip a ground-up build-out and put money into their own concept instead. It's a flexible canvas for a fast-casual brand, a chef-driven full-service restaurant or a growing multi-unit operator looking for a Peninsula flagship. Operators can come in, rebrand, and open to one of the Bay Area's most affluent and highest-traffic dining markets.