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Atwater Village Area Cocktail Bar w/Entertainment - Property Included!

Los Angeles, CA (Los Angeles County)

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Asking Price: $1,800,000

Cash Flow: N/A

Gross Revenue: $480,000

EBITDA: N/A

FF&E: N/A

Inventory: $15,000*

Real Estate: N/A

Established: 2017

*not included in asking price.

Atwater Village Area Cocktail Bar w/Entertainment - Property Included!

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Business Description

This semi-absentee operated Atwater Village area cocktail bar with a Type 48 License does not have a food requirement but boasts a kitchen as well as live entertainment and onsite parking, with the property included in the sale. The venue is in an area that hosts a few popular dining and entertainment options, which create an organic custom draw. The owners have an estimated $2.5 ml invested into the project.

Detailed Information

Location:
Los Angeles, CA
Inventory:
Not included in asking price
Real Estate:
Owned
Included in asking price
Building SF:
5,720
Employees:
9
Facilities:
This semi-absentee operated Atwater Village area cocktail bar with a Type 48 License does not have a food requirement but boasts a kitchen as well as live entertainment and onsite parking, with the property included in the sale. The venue is in an area that hosts a few popular dining and entertainment options, which create an organic custom draw. The owners have an estimated $2.5 ml invested into the project.
Competition:
This quaint 1,728 – 2,000 square foot freestanding venue pays itself $8,900 per month in lease / mortgage expense. All of the business’s furniture, fixtures, equipment, Type 48 Liquor license and event and entertainment permits should transfer in the sale. Approximately $15,000 in inventory will be sold at cost at close. The business enterprise will be included in the property sale.
Growth & Expansion:
Although a few hospitality and entertainment venues exists in the immediate vicinity (i.e. across the street), each has a very different focus and target market. The largest is a first class food and beer oriented venue while another caters to the adult entertainment crowd and does not serve alcohol. As a result, both are considered to be highly complementary ‘competitors’ that bring patrons to the area but provide a different service offering. This business could tremendously benefit from a full-time onsite working owner with hospitality industry experience. New operators that fit this description will likely wish to capitalize on the venue’s coveted entitlement attributes without the typical operating restrictions and invest in creating a loyal customer base that provides stable revenues.
Support & Training:
2 Weeks at 20 hrs/wk
Reason for Selling:
Personal
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Michael Wildeveld, CBB, CBI, CM&AP, M&AMI, CEPA

Business Listed By:
Ryan Clark

The Veld Group

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Memberships & Certifications:
Indicates membership in The California Association of Business Brokers (CABB). The CABB Certified Business Broker (CBB) certification distinguishes its holder as a seasoned professional who has a solid educational background, proven accomplishments in completing deals, and an active membership in the CABB.

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