Restaurant With Liquor & Patio
Location California,United States
Asking Price Range $250K - $500K
Gross Revenues $1346000
Net Profit / Cash Flow $147000
Cash Flow Type Sellers Discretionary Cash
Seller Finance No
Year Established 1989
Number of Employees 20 - 34
Inventory 95000
Relocatable No
Number of Employees 20 - 34
Real Estate Leased
Training 2 weeks at 20 hours/week.
Reason for Sale Personal.
Description This Greater Los Feliz / Hollywood Area restaurant with full liquor and a patio is located in a coveted area, in a center that restaurateurs have sought to secure a space in for years. The restaurant for sale, which has excellent street visibility as well as freeway access, is well positioned to service local residents via take-out and delivery services. Asking Price $450,000.
The 2,600 sq. ft. restaurant plus patio currently leases for $5,700 per month plus an additional $1,600 in common area maintenance expenses on a lease until July 2011. A new 3 year lease will be offered at $10,500 per month, plus an additional $2,000 in common area maintenance expense. The new lease will likely include at least one three year option to renew). The asset sale includes a full liquor license, as well as the restaurantts furniture, fixtures, equipment, menu and years of goodwill.
This restaurant is located in a coveted location in the Greater Hollywood / Los Feliz Area. Many concepts could thrive in this coveted location, however, Japanese would be discouraged due to formidable nearby competition. This restaurant can remain 'as is', since it has been an established earner for a number of years and has such a fantastic location with excellent freeway access. Alternately, a new owner may seek to capitalize on the venue's liquor license, patio and versatile build-out and expand-upon the restaurant's current concept, or modify it all together.
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