Historic Elkhorn Bar & Real Estate Package - $54k Profit - Type 48 License - Entertainment - Outdoor Patio
Asking Price: $475,000
Location: San Miguel, San Luis Obispo County, California
Yearly Revenue: $267,600
Yearly Cash Flow: $54,000
Monthly Rent: $2,200/Negotiable
Located in the heart of the Paso Robles wine country, this opportunity allows buyers the option to purchase an historic California bar operation and real estate, offered at $475,000, reduced from $574,000. The real estate alone was recently appraised at $330,000. The Elkhorn Bar, located at 1263 Mission St., San Miguel, CA., which comes with a type 48 liquor license with an approximate value of $70,000, is being sold along with the name, website, clientele and all the assets. The interior main bar area has a real authentic Old California ambiance, and in addition to the 20 seats at the rustic all wood bar, there is table and chair seating for 25, where locals and tourists alike hang out to people watch, or sit in an adjacent area to play pool or enjoy live entertainment from the 100+ sq. ft. stage. The maximum overall occupancy capacity is 175. In addition to the vintage bar and bar back, is a full complement of equipment including the multiple beer taps, which are fed from the large walk in cooler, an ice machine, under counter bar refrigeration, bottle chillers, blenders, 3- compartment sink, ice well and beverage dispensing units. There is a separate liquor lock-up room, and a cellar for additional storage. The property footprint is 3,750 sq. ft.,and the bar, stage and pool room area is 2,500 sq. ft., with the 325 sq. ft. covered patio accessible from the bar. There is also a 225 sq. ft. office area, with bathroom and shower, previously a residence, which could be easily re-converted as such. In addition, a small separate retail store, with separate entrance, generates $400 monthly rental income for the owners.