Hollywood Bar with Outdoor Patio & No Food Required – Edgy Chic!

Los Angeles, CA (Los Angeles County)

Hollywood Bar with Outdoor Patio & No Food Required – Edgy Chic!
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Asking Price: $380,000

Cash Flow: N/A

Gross Revenue: $415,000

EBITDA: N/A

FF&E: N/A

Inventory: $10,000*

Rent: $8,000 /Month

Established: 2004

*not included in asking price.

Hollywood Bar with Outdoor Patio & No Food Required – Edgy Chic!

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Business Description

This classic yet hip Hollywood bar with a coveted outdoor patio complete with a fire place can perhaps best be described as ‘edgy chic’ and oozing with ambiance. The bar boasts a coveted Type 48 Liquor License that does not require food service. Although under-utilized, this venue holds both a live entertainment and dance hall permit.

Detailed Information

Location:
Los Angeles, CA
Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
2,350
Lease Expiration:
N/A
Employees:
10PT
Facilities:
The venue, which is nearly 2,000 square feet with an unexpected 350 square foot outdoor patio that exudes character, will lease for $8,000 per month on a new 5 year lease with a 5 year option to be negotiated. All of the business’s furniture, fixtures, equipment, Type 48 Liquor License, entitlements and goodwill will be included in the sale. Approximately $10,000 in liquor inventory will be sold at cost at close. The premise does not have a kitchen, hood or duct work for one, nor is one necessary.
Competition:
While Hollywood may be at the epicenter of late night revelry for many, this bar possess an authenticity that allows it to distinctly stands out from the Dream Hotel enclave, much to the delight of its patrons. Given its uniqueness, location and overall character, this venue that could just as easily be a trendy hotspot in New York as one in Los Angeles, making it tough for competitors to match.
Growth & Expansion:
New operators will necessarily want to add their own flavor to the venue, but most likely won’t find the need for too many tweaks. Solid promotion could turn this venue into the next big thing, but a low key transition and no major modifications may also be preferred path as the venue is anything but lacking.
Support & Training:
2 Weeks at 20 hrs/wk
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Contact the Seller

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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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