Downtown Los Angeles Bar & Lounge – East Coast Ambiance!

Los Angeles, CA (Los Angeles County)

Downtown Los Angeles Bar & Lounge – East Coast Ambiance!

Asking Price:$1,200,000

Cash Flow:$544,052

Gross Revenue:$1,695,402

EBITDA:N/A

FF&E:$50,000

Inventory:$10,000*

Established:2006

*not included in asking price.

Downtown Los Angeles Bar & Lounge – East Coast Ambiance!

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Business Description

This Downtown Los Angeles bar and lounge boasts a highly unique and sophisticated east coast vibe that is reminiscent of a venue that one may visit in Boston, New York or D.C. The bar and lounge does offer a high quality menu via its fully outfitted kitchen, however, since it has a coveted Type 48 Liquor License it is not required to offer food service.

Detailed Information

Inventory:
Not included in asking price
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
This 2,236 square foot bar leases for $10,000 per month plus $2,200 in monthly CAM (Common Area Maintenance) expenses on a lease with 5 years remaining, and one five year option that will be at fair market value at the time it’s exercised. All of the business's furniture, fixtures, equipment, Type 48 Liquor License and established goodwill will be included in the sale. Approximately $10,000 in alcohol inventory will be sold at cost at close in addition to the asking price.
Competition:
The downtown Los Angeles market has several drinking and dining options, however, most of its bars with Type 48 Liquor Licenses would be characterized as ‘dive bars’, whereas this venue is anything but. Its ideal high traffic location, rich decoration and discerning menu have made it a hit that truly sets this venue apart.
Growth & Expansion:
Unlike the typical case in many bar sales, new operators will likely to seek to maintain this tidy operation “as is” and allow it to continue to operate as steadily and profitably as it currently does.
Support & Training:
2 Weeks at 20 hrs/wk
Reason for Selling:
Personal

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Ryan Clark

Business Listed By:
Ryan Clark

The Veld Group

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Sponsoring Broker:
Michael Wildeveld

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