Long Standing and Successful Restaurant and Bar Business in the Papagayo Region. From its inception, This Bar and Restaurant has been synonymous with great food and service in a unique setting. It has the envious record of being wildly successful and profitable for over 20 years and is now positioned in the middle of what has been and continues to be the pinnacle of high end residential and hotel development in the Papagayo Area. The creator of this jewel has continually worked to improve the customer experience, retain key staff and improve the facilities and systems to take advantage of continued growth and success of Playa Hermosa and environs. The Restaurant was designed in conjunction with the award winning Costa Rican architect, Victor Cañas to provide a one of a kind dining experience only available in the beloved climate of the NW Pacific Coast of Costa Rica. The Restaurant has 100 person seating capacity at tables and another 15 seat Bar. There is a two tier deck for table seating along with an additional bar to serve the lower deck. The entire Restaurant, Kitchen and Bar was remodeled in 2019 to increase the table seating and bar efficiency, update and enlarge the kitchen, and bring the entire electrical system up to current code. Also Includes 2 completely remodeled single family rental or staff homes each measuring approximately 800 Square Feet with 2 Bedrooms and 1 Bathroom, Full Kitchen, and Front and Back Private Terraces. Property is included with the sale that Includes the Restaurant Building and Off Street Parking. Titled property measures 2,466 Square Meters (26,544 Square Feet) with 31.15 lineal meters (102.19 lineal feet) of paved public road frontage. Just 20 minutes from the Guanacaste International Airport (LIR) and minutes to the beach towns of Playas del Coco, Playa Panama and Playa Ocotal as well as numerous large and small hotels and resorts.
- Asking Price:
- $2,450,000 (USD) Furniture / Fixtures and Inventory / Stock included
- Sales Revenue:
- $1M - $5M (USD)
- Cash Flow:
- $250K - $500K (USD)
Property Information
- Real Estate:
-
Real Property Included
- Living Accommodation:
-
Includes 2 completely remodeled single family rental or staff homes each measuring approximately 800 Square Feet with 2 Bedrooms and 1 Bathroom, Full Kitchen, Front and Back Private Terraces.
- Location:
-
Playa Hermosa, Guanacaste, Costa Rica - On the Northwest Pacific Coast of Costa Rica in the Guanacaste Province just 20 minutes from the Guanacaste International Airport (LIR). Right on the main public road that passes through Playa Hermosa that is in the heart of what has been the fastest growing luxury home market in the Papagayo Area. 5 minutes to the Waldorf Astoria Hotel and Punta Cacique Resort and just across the Bay to the famed Peninsula Papagayo with the Four Seasons, Hyatt Andaz, and Ritz Carlton Reserve. Just minutes to the main commercial and tourist hub of Playas del Coco to the South and minutes to the up and coming hotel zone of Playa Panama to the North. Close to all major tourist attractions and hotels of the area and 40 minutes from the Provincial Capital city Liberia. There is no better located high end restaurant property in the area.
- Premises Details:
-
Property is included with the sale. Includes the Restaurant Building and Off Street Parking. Also Includes 2 completely remodeled single family rental or staff homes each measuring approximately 800 Square Feet with 2 Bedrooms and 1 Bathroom, Full Kitchen, Front and Back Private Terraces. Highly Successful and Profitable Business for over 20 years. Restaurant has 100 person seating capacity at tables and another 15 seat bar. There is a two tier deck for table seating along with an additional bar to serve the lower deck. The entire Restaurant, Kitchen and Bar was remodeled in 2019 to increase the table seating and bar efficiency, update and enlarge the kitchen, and bring the entire electrical system up to current code. Restaurant is equipped with POS and Inventory System that can be monitored fully off site. Titled property that measures 2,466 Square Meters (26,544 Square Feet). 31.15 lineal meters (102.19 lineal feet) of paved public road frontage. The property boasts a relatively level topography with no physical limitations to construction or current buildings.
- Size in square feet:
- 26,544
Business Operation
- Expansion Potential:
-
The entire Restaurant, Kitchen and Bar was remodeled in 2019 to increase the table seating, bar efficiency, update and enlarge the kitchen. Even though the Restaurant and Bar are very profitable, it is not running at 100% capacity. Expansion of revenue and profit can be achieved by maximizing the number of guests served without having to invest in an expansion of the current facility. While physical expansion is possible, the current owner has analyzed the cost benefit of the capital expenditure required to physically expand and has decided it is not worth the investment at this time and would rather focus on achieving 100% reserved tables on any given night. Lunch Service could be added.
- Competition / Market:
-
Currently there are many competitors in the surrounding area that attempt to offer similar level of service and product. No other establishment has remained under the same ownership for as long in the area and this give considerable market advantage and pricing power. Any new competition that has come into the area has either failed in the first year of operation or if successful, has been absorbed into the growth of the area and has not affected the results of the Restaurant and Bar and have only made the base of available business stronger and more resilient.
- Reasons for selling:
-
Retirement.
- Trading hours:
-
Mon-Sun 5PM-10PM
- Employees:
- 12-18
- Years established:
- 20
Other Information
- Support & training:
-
Support and Training available to Buyer.
- Furniture / Fixtures value:
- $86,000 (USD) - included in the asking price
- Inventory / Stock value:
- $14,000 (USD) - included in the asking price
- Home based:
- This business can be run from home.
