Toluca Lake Turnkey Restaurant & Bar

Toluca Lake, CA (Los Angeles County)

Toluca Lake Turnkey Restaurant & Bar
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Asking Price: $475,000

Cash Flow: N/A

Gross Revenue: $1,700,000

EBITDA: N/A

FF&E: $200,000

Inventory: N/A

Rent: $9,100 /Month

Established: 1998

Toluca Lake Turnkey Restaurant & Bar

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Business Description

This Bar & Grill in the heart of the highly coveted Riverside Dr. corridor is well established as a popular destination of the neighborhood and within walking distance of dozens of fully leased high rise offices, Warner Bros. & Disney Studios, Universal Studios is nearby. The restaurant and bar serves a diverse selection of high quality food and drinks in 2,500sf at both lunchtime and evening, the neighborhood is an active bar destination 7 days a week. The opportunity to own this high barriers to entry market, high volume establishment is rare, with growth opportunity by extending hours, refreshing the menu, and either refreshing the concept or start your own. Seller reports 2017 top line sales over $1,700,000, think what you could do with a refresh or new hip concept?

1) Location sits in the densest and most popular stretch of Toluca Lake on Riverside Dr. surrounded by a who's who of the hippest bar and restaurant concepts in LA.
2) The game changer for this popular storefront location lies in its large public parking lot accessible and behind the restaurant, a rarity for the neighborhood.
3) Surrounded by daily draw anchor tenants and bars, and a loyal active neighborhood nightlife crowd.
4) Dense apartment occupancy within 1/2 mile radius, SFR in the area ranges from $1.8M to $10M and this is where they go to hang out, even a few celebrity regulars.
5) Competitive below market lease rate, owner has had same landlord for 20 years.
6) Additional option period(s) available at slightly higher rent.

Attached Documents


Detailed Information

Location:
Toluca Lake, CA
Real Estate:
Leased
Building SF:
2,500
Lease Expiration:
6/30/2023
Employees:
7
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Fully built out kitchen with hood, two walk-ins plus, refrigerated beer draws/storage for 25 taps plius keg storage area, Newly installed HVAC for added included dining area. Full and extensive FF&E equipment list available upon receipt of signed NDA.
Competition:
High Barriers To Entry, High Income demographics, close to studios, active evening and weekend customer base.
Growth & Expansion:
Concept has run its course, owner is retiring, a refresh or new concept is needed. Wine bars & whiskey bars already successful in area along with some cutting edge restaurant operators.
Financing:
To receive full package, sign and return NDA attached below
Support & Training:
none
Reason for Selling:
Owner retiring, partnership dissolution.
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(from currently available funds)
 
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Linnard Lane

Business Listed By:
Linnard Lane

Empire Realty Group, LLC

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