Established Award Winning Italian Bistro w/ Type 47 Liquor License

Pasadena, CA (Los Angeles County)

Seller Financing Available
Established Award Winning Italian Bistro w/ Type 47 Liquor License
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Asking Price: $350,000

Cash Flow: N/A

Gross Revenue: $1,225,000

EBITDA: N/A

FF&E: $340,000

Inventory: N/A

Real Estate: $2,825,000*

Established: N/A

*not included in asking price.

Established Award Winning Italian Bistro w/ Type 47 Liquor License

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Business Description

KW Commercial is pleased to present this business and real estate opportunity within the city of Pasadena. The property consists of 3,574 SF restaurant on 14,334 SF C zoned triangular signalized corner lot. The property has great visibility being elevated 4 FT above street level with approximately 132 FT along Sierra Madre Blvd & 165 FT along Carmelo Ave, which is visible from Foothill Blvd as well. The venue sits along the Rose Parade Route allowing great views for its customers.

The Avanti brand has won multiple awards over the years. The brand started over 30 years ago with a Cafe on Lake Ave. in Pasadena and later opening an Italian Bistro & Bar in 2014. They have recently closed the Cafe on Lake Ave. to concentrate on the Italian Bistro & Bar and transition themselves into retirement. The restaurant space underwent extensive reconstruction and renovation over a two year period ending in 2014, allowing for a more efficient layout for better operation. The renovation included all new interior walls, reconstructed exterior walls, new architectural brickwork inside & out, new flooring throughout, new self contained fireplace, permitted storage room outside the kitchen, new copper plumbing & sewer system, new roof, complete new electrical system, 3 new 3-Phase 480 volt air conditioners, roofed patio with outdoor seating, exhibition kitchen with service kitchen in the rear, new circular bar, and 3 ADA compliant bathrooms, one designated for employee use. All materials used are considered to be of high-grade architectural quality. The electrical system consists of 2 panels a 400 amp 110/220 volt & 400 amp 3 phase 480 volt. The restaurant is currently only using about 25% of its 3 phase 480 volt power capacity.

The subject property has 15 on-site parking spaces in addition to ample street parking. The offering has 2 points of ingress and egress on N. Sierra Madre Blvd & Carmelo Ave. There is also a monument sign at the corner of the property which is visible from every direction.

The business includes all FF&E and a full type 47 liquor license.

Attached Documents


Detailed Information

Location:
Pasadena, CA
Inventory:
Included in asking price
Real Estate:
Owned
Not included in asking price
Building SF:
3,574
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
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David Yashar

Business Listed By:
David Yashar

Keller Williams Realty Westside

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