Hip Highland Park Area Restaurant w/Liquor & Patio!

Los Angeles, CA (Los Angeles County)

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Asking Price: $350,000

Cash Flow: $91,989

Gross Revenue: $1,900,894

EBITDA: $91,989

FF&E: $30,000

Inventory: $17,000*

Rent: $3,535.79 /Month

Established: 2012

*not included in asking price.

Hip Highland Park Area Restaurant w/Liquor & Patio!

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Business Description

This super hip Highland Park area restaurant with liquor and a large outdoor patio is an extraordinarily enchanting venue in one of the city’s hottest areas. The unique venue has recently been entirely refurbished and a new conditional use permit was put in place to create its ambiance and signature vibe.

Detailed Information

Location:
Los Angeles, CA
Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
2,320
Lease Expiration:
N/A
Employees:
35pt
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The 2,468 square foot indoor-outdoor venue leases for a remarkable $3,536 per month on a lease until December 2022 with two 5 year options. All of the business’s furniture, fixture, equipment, Type 47 Liquor License and goodwill will be included in the sale. Approximately $17,000 in inventory will be sold at cost at close in addition to purchase price.
Competition:
While competition in the immediate vicinity has increased, this venue has made a remarkable splash in a very short period of time. As a result, it has established itself and its concept. It stands out from direct competition on all fronts – from its unique buildout to its eclectic menu.
Growth & Expansion:
As this establishment only operated with beer and wine since opening, the recent addition of a liquor license dramatically increases the venue’s options to bolster revenue and the high margin sales associated with spirit and specialty cocktail sales. New management may also revisit the venue’s labor expense, as it appears to represent 39% - 42% of considerable revenues (by comparison, rent is at 1.8% - 2.2%).
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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