Restaurant Property Advice needed

[Kelby K.]

Hey all, I am in Austin TX and in negotiations on a retail/office property with a restaurant as the majority tenant and two other office spaces beside it. The location is solid but the history is minimal. The restaurant is an older building that has been completely remodeled by the operator to fit their needs (~$75k invested). The business opened less than a year ago and seems to be very popular and gaining steam. This is the operators second location and the first one is wildly successful according to the folks that work there (for what that's worth). The previous owner purchased at a discount and solidified tenants and did some minor improvements about a year ago. The restaurant is built out and can be transitioned to another restaurant style fairly easily. The office spaces have opportunity to add value. We have a history of multi-family and office property but this would be our first restaurant deal. Is there any specifics for restaurants that would be different than acquiring an office property? Any help is greatly appreciated. Thanks!