In Escrow, Restaurant with Full Bar, Great Lease, Clean Books

Los Angeles County, CA

In Escrow, Restaurant with Full Bar, Great Lease, Clean Books
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Asking Price: $175,000

Cash Flow: $57,562

Gross Revenue: $454,076

EBITDA: N/A

FF&E: N/A

Inventory: $5,000

Rent: $0.72 /Month

Established: 2009

In Escrow, Restaurant with Full Bar, Great Lease, Clean Books

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Business Description

This upscale casual restaurant has been serving great food and drinks since opening in 2009. Located in an historic area of the city where it operates from, the restaurant is known for its gourmet offerings that combine American food with a French twist. On-line reviews of the restaurant have been consistently favorable. A full service bar with seating for 12 compliments the 98 seat dining area.
The restaurant opens at 5pm with a menu created for the dinner hour. For starters, there is the soup of the day and an assortment of salads. Appetizers include crab cakes, steamed mussels, Portabella fries, and more. Dinner entrees include steak, chops, chicken, fish, and dinner burgers and sandwiches. There is a variety of side dishes, a great dessert menu, soft beverages, and full alcohol.

The restaurant is fully staffed with an assistant manager, cooks, and bartenders. The service is top quality as shown by the great reviews. The kitchen is fully equipped, and all equipment is in good working order.

The monthly rent for this 2,550sf location is extremely favorable at $1,827 including CAM charges. The lease is valid through July 2023. A longer term lease will be available upon landlord approval. Street parking is available in front of the rrestaurant and there is a public parking lot within easy walking distance.

The owner is semi absentee, working about 20 to 30 hours per week. The business could really benefit from a full time operator who will be attentive to menu changes, advertising, and marketing to the local community. The purchase price includes inventory, equipment, and website.

Note: The books and records are extremely clean.

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
2,550
Lease Expiration:
7/31/2023
Employees:
4 ft, 4 pt
Facilities:
The business operates from a 2,550sf location, with seating for 98. The base rent of $1,827 includes CAM charges. The lease is valid through July 2023, with 3% yearly rent increases. A longer term lease should be available for qualified restaurant operators, with landlord approval.
Growth & Expansion:
Very little advertising or marketing has been in place over the past several years, with new customers coming by word of mouth.
Support & Training:
The seller will provide a training/transition period after the close of escrow.
Reason for Selling:
Semi Absentee owner pursuing opportunities outside of the food service industry
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(from currently available funds)
 
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Bob Baumgarten

Business Listed By:
Bob Baumgarten

National Business Brokerage

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Memberships & Certifications:
Indicates membership in the International Business Brokers Association (IBBA). The IBBA is the only certifying organization for Business Brokers and Intermediaries who assists people in buying or selling a business. Indicates membership in The California Association of Business Brokers (CABB).

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