Chic Downtown Los Angeles Bar Restaurant And Lounge For Sale

Business description

This downtown Los Angeles bar, restaurant and lounge is the very definition of chic, as no expense was spared in the $1 million that went into making it the first class operation that it is. The business is located in a densely populated downtown Los Angeles area that is filled with high discretionary income residents nearby, as well as a daily crowd of urban professionals which include attorneys, consultants, accountants and bankers. This offering includes a newly completed high-end full service restaurant and bar that serves liquor with spacious lounge and patio areas, as well as a large kitchen, and a sizeable walk-in with plenty of storage space.

Property information

Real Estate:

Lease

Lease terms:

This 3,300 square foot facility with a large parking garage leases for $8,028 per month plus $1,472 in common area maintenance (CAM).

Location:

This 3,300 square foot facility with a large parking garage leases for $8,028 per month plus $1,472 in common area maintenance (CAM). The sale includes all of the business’s furniture, fixtures and equipment (debt free), liquor license, and potentially its name and concept (depending on the overall offer). The lease in this coveted location is valid until November 2018, with one ten-year option.

Size in square feet:

3,300

Business Operation

Expansion potential:

While the restaurant could potentially thrive under its current concept, several external factors have hindered it from the outset causing the financials to not be reflective of the operation’s potential. Of course, given its stellar location and fantastic build-out and infrastructure, the venue could thrive under any number of concepts ranging from breakfast kitchen, to lunch destination with high end or casual food (Mexican or such), to fine dining to chic bar and lounge.

Competition / Market:

This restaurant does face competition as Downtown Los Angeles has become a hotbed for daytime dining and evening revelry – with the Nokia Complex and the Staples Center, the 8th Avenue Food Court, Spring Street, Little Tokyo and the Arts District. That said the location benefits from a substantial built-in week day client base.

Reasons for selling:

Personal

Years established:

2008

Other information

Support & training:

2 wks at 20 hrs/wk

Furniture / Fixtures value:

$50,000 (included in the asking price)

Inventory / Stock value:

$5,000