Turnkey restaurant for lease vs building out a cold shell

Shells look cheap until Type I hood, make-up air, grease interceptor, and grease duct fire wrap show up. If the turnkey already passed health in the last few years, that can be a year of time even if rent is higher.

Only chase the shell if you need a different kitchen layout or a larger seating count that the turnkey cannot support. Otherwise second generation or turnkey wins for most first locations.