Upscale Long Beach Restaurant & Lounge With Patio
Location California,United States
Asking Price Range $250K - $500K
Gross Revenues $379992
Net Profit / Cash Flow $49596
Cash Flow Type Sellers Discretionary Cash
Seller Finance No
Year Established 1930
Number of Employees 6 - 9
Inventory 110000
Relocatable No
Number of Employees 6 - 9
Real Estate Leased
Training 2 weeks at 20 hours / week.
Reason for Sale Personal.
Description This upscale restaurant and lounge for sale is truly an area gem with a great many possibilities for continued success. The stylish venue with full liquor, a sophisticated international fusion menu offering a varied mix of favors and dishes served tapas style, and a spacious smoking patio has set a very high standard in every aspect of its operation - has a strict dress code in place resulting in a highly classy atmosphere, food that is prepared with the utmost care, service that is personal, and a perfectly maintained ''A'' facility.
Asking Price $199,000.
The 2,500 square foot facility, which has a coveted patio that can accommodate 30+ guests (approx. 700 sq. ft) and tandem parking for at least 10 employees or patrons, leases for an unbelievable $2,700 per month on a lease with 1 year remaining and two 5 year options. The lease, which is already very tenant friendly, even has a clause providing the tenant the first right of refusal on the property shall it become available for sale. The sale includes a full liquor license, seating for 100+ patrons, a 10+ person bar, a wine rack, a sizable kitchen that if fully outfitted with 7 refrigerators/freezers, a deep fryer, grill and stoves, a dry storage room, a managers office, a secure liquor room and two large restrooms.
This restaurant is located the area's only entertainment corridor. This venue is the only one in the immediate area that caters to a sophisticated young to middle-aged client base, offers a chic look and feel, as well as an international offering. This venue has been on a positive growth trajectory since its 2005 launch. The business customer base has continued to grow as former loyal clients continue to frequent the business alongside new converts. In addition, there is a thriving arts district nearby, and 5,500 new lofts and condominiums coming available before years end located within waking distance of the facility, both of which cater to one of this venues target customer base.
Click Here To Contact Seller
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