Jazz Bar - Dining, Liquor, Patio
Location California,United States
Asking Price Range $250K - $500K
Gross Revenues $1061217
Net Profit / Cash Flow $109669
Cash Flow Type Sellers Discretionary Cash
Seller Finance Not Disclosed
Year Established 2007
Number of Employees 20 - 34
Relocatable No
Number of Employees 20 - 34
Real Estate Leased
Training 2 weeks at 20 hours/week
Reason for Sale Relocation
Description This Greater Temecula / Murrieta Area Jazz Bar and fine dining venue boasts liquor, an expansive kitchen with a large walk-in and two hoods, live entertainment and a patio with an onsite parking lot. The established neighborhood favorite has posted stable revenues exceeding $1 million annually since its inception nearly 10 years ago. The loyal patrons, who are local in nature, are relatively sophisticated high-net worth individual that appreciate this venue's fine music, wine and dining selections.
Asking Price $349,000.
The 3,500 square foot venue leases for $8,750 per month plus an additional $2,000 in monthly common area maintenance (CAM) expenses on a lease until November 2017 with two 5 year options. All of the venue's furniture, fixtures, equipment and Type 47 Liquor License are included in the sale. Approximately $6,000 in liquor and wine inventory will be sold at cost at close in addition to purchase price.
This venue is a one-of-a kind in its immediate area, which is partially how it has developed such a loyal client base. Most patrons will know one another, and would be considered 'regulars'.
In addition to the adjacent physical space the venue could eventually add, new owners may seek to offer live entertainment more than 2 nights per week, implement cover charges for larger name show or as demand dictates, host more themed music / event or other entertainment nights (e.g. blues, comedy, spoken word poetry, etc.), or cater more to the wedding and special event or community / business meeting market.
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