Larchmont Area Restaurant With Parking & Freeway Access
Location California,United States
Asking Price Range < $250K
Gross Revenues $240000
Net Profit / Cash Flow $0
Cash Flow Type Sellers Discretionary Cash
Seller Finance Not Disclosed
Year Established 1985
Number of Employees 4 - 5
Relocatable Not Disclosed
Number of Employees 4 - 5
Real Estate Leased
Training 2 weeks at 20 hours / week.
Reason for Sale Retirement.
Description This neighborhood restaurant for sale is on the market for the first time in 25 years. While the restaurant and its concept may be considered a bit dated, it has managed to survive via its stellar location near Larchmont, Paramount Studios and the Hollywood 101 Freeway. Just in recent years, the venue has received a boost in built-in neighbor traffic via the recent development of luxury condominiums and multi-unit housing projects. The facility comes with a fully equipped kitchen, one rest room, a walk-in cooler, and an upstairs manager's office. While it does not offer it now, new management could modify the corner location's side wall to facilitate patio seating. Asking Price $95,000.
Please note that it is necessary for all prospective buyers to fill out a Non-Disclosure Agreement as well a Buyer Profile indicating ability to purchase. Requests for specific data without such will not be entertained. This 2,500 square foot facility boasts a full parking lot with 4 dedicated spaces, but over 20 available after 5 pm. The lease rate, also reminiscent of times past for this type of location, is $5,200 per month including CAM on a lease valid until January 2013 with one - three year option.
Competition does exist in this area, however, the location lends itself to capitalize on a few different types of built-in client bases. These include the Larchmont community, nearby film studios and employers, and a heavy traffic flow of daily commuters to the 101 Freeway and into the Hollywood Area. New owners will likely seek to dramatically modify the existing concept, and implement a Pizza, Burger, Wings, Barbeque, Indian, Middle-Eastern or similar concept. On the flip side, with a small amount of cosmetic improvement and renovation the facility could be positioned as a high-end bistro/cafe or bakery.
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