Downtown Restaurant & Bar – Spacious Outdoor Patio Available!

Los Angeles, CA (Los Angeles County)

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Asking Price: $375,000

Cash Flow: N/A

Gross Revenue: $798,052

EBITDA: N/A

FF&E: N/A

Inventory: $4,000*

Rent: $10,000 /Month

Established: 2016

*not included in asking price.

Downtown Restaurant & Bar – Spacious Outdoor Patio Available!

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Business Description

This downtown Los Angeles restaurant and bar and spacious outdoor patio is near the city’s most popular entertainment district for bars, restaurants, nightlife and urban living. For its size, it boasts an attractive lease rate that does not fully take into account the remarkable outdoor patio space that is covered in the premise’s conditional use permit (CUP). When taking into account its location, two hoods and one-of-a-kind outdoor patio space, this venue is truly a unique location and ideal for any number of concepts that require the liquor entitlement with these attributes.

Detailed Information

Location:
Los Angeles, CA
Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
2,504
Lease Expiration:
N/A
Employees:
15PT
Facilities:
The 2,504 square foot venue, plus patio, leases for $10,000 per month on a lease until June 2023, with one 5 and one 3 year option. The kitchen has two hoods, one for stacked convection ovens and one that covers two deep fryers, a grill, griddle and stove. All of the business’s furniture, fixtures, equipment, goodwill and Type 47 Liquor License will be included in the sale. Approximately $4,000 in inventory will be sold at cost at close.
Competition:
Downtown Los Angeles has undergone a revival with a number of innovative food concepts, including those contained in places like Grand Central Market, The Arcade and Corporation Food Hall. As a result, competition certainly exists, however, we are not aware of any restaurant venue that boasts an outdoor patio dining and alcohol entitlement (no smoking or entertainment), which provides this space a potential unique long-term competitive advantage.
Growth & Expansion:
New operators will want to capitalize on this space’s attractive and highly versatile build-out, and introduce the outdoor patio that is currently not in use, to launch any number of potential concepts that may thrive in the area. Immediate ones that come to mind include any combination of a beer garden, Spanish tapas or Japanese Izakaya, or many more.
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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