You can't smell the ocean here, but you can certainly smell the money

Glendale, CA (Los Angeles County)

Corporate Event
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Asking Price: Get Financing: $1,299,000

Cash Flow: $390,000

Gross Revenue: $1,150,000

EBITDA: $425,000

FF&E: $750,000

Inventory: $10,000

Lease Rate: $2.49 /Month

Established: 2010

You can't smell the ocean here, but you can certainly smell the money

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Business Description

This beautifully remodeled restaurant and banquet hall is for sale. The casual and upscale restaurant is located in the heart of Glendale with high street visibility and plenty of parking nearby. The approximate 4,000 square foot restaurant and banquet hall is the ideal setting for a wide range of events such as wedding, birthday and New Year celebrations accommodating an estimated 200 dinner guests. Great for all and any corporate events as well.
License 47 (On-Sale General for Bona Fide Public Eating Place) is included in the price.
Dinner guests enjoy the taste and consistent quality of the food selections. As well as the gorgeous ambiance from the outdoor patio.
This restaurant/banquet hall is equipped with high-end furniture, fixtures and state of the art kitchen appliances which includes coolers, freezers along with ample storage. Its remodel expanded the restaurant/banquet hall in order to create a more inviting environment. This well-established restaurant and banquet hall is surrounded by an expanding commercial and residential area.
Seller is looking for all cash offer.
Any prospective buyers to sign the attached NDA and send back with POF-Proof of Funds.
All the details will be provided after that. Buyer will have seller's full cooperation at the time of buyer's due diligence.

Attached Documents


Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
4,000
Lease Expiration:
N/A
Employees:
6
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
FF&E worth of $ 750,000 included in the price.
Competition:
Kind of Unique and Specific Business.
Growth & Expansion:
Great reputation to continue to build upon. Banquet hall keep the place very active. Well-established and rooted. Surrounded by an expansive commercial and residential area! It's Glendale, CA. Business ready for substantial growth, limited only by owners imagination. Competitive and niche, however has become an essential element with locals and corporates alike.
Financing:
All Cash Offers Only
Support & Training:
Yes. 4 weeks.
Reason for Selling:
Retiring from this business because of family important matters.
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Contact the Seller

(from currently available funds)
 
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Ludwig Parsamian, Ph.D, Broker, CRS

Business Listed By:
Ludwig Parsamian, Ph.D, Broker, CRS

City Center Realty Group

Show Phone Number

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