Sunset Boulevard Restaurant With Liquor & Property
Location California,United States
Asking Price Range $2.5M - $5.0M
Gross Revenues $1420000
Net Profit / Cash Flow $480000
Cash Flow Type Sellers Discretionary Cash
Seller Finance No
Year Established 1974
Number of Employees 20 - 34
Relocatable No
Number of Employees 20 - 34
Real Estate Owned
Training 2 weeks at 20 hours / week.
Reason for Sale Retirement.
Description This 5,000 sq. ft. restaurant and lounge for sale, sits on a 6,000 sq. ft. parcel on Sunset between La Cienega and La Brea, in the thick of the West Hollywood and Hollywood restaurant and nightlife scene. The highly unique facility has a versatile interior that could be applied to a full-restaurant, a lounge-only oriented venue (thought there is a food requirement), or a first-class restaurant and lounge. The facility has had plans drawn for modifications which include a patio, several bars, etc. While the restaurant is highly successfully for some time, the highest and best use for such a property in this type of location would dictate a very high average ticket sale per customer, or conversely, a very high volume daytime and nighttime venue. Asking Price $4,500,000.
This property and restaurant sale comes with a full liquor license with no restrictions. The facility offers two customer restrooms, as well as an employee rest room, a manager office, a walk-in cooler and freezer and a private office with a separate entrance. While the facility does not boast a parking lot, there are a number of lots available for valet parking or alternate customer parking in the immediate vicinity. This location has become synonymous with fine dining, drinking and entertainment in a unique atmosphere. While the greater Hollywood / West Hollywood area has no shortage of such venue, this restaurant has carved out a unique market niche that affords it little to no direct competition. There are many options for growth, depending on the vision of the buyer. Any buyer will seek to capitalize on this unique structure, and the properties' established concept, however, they will definitely seek to 'take it to the next level'.
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