Burbank Area Bar & Lounge With Liquor & Dancing For Sale

Business description

This Burbank Area bar and lounge can only be described with superlatives. This venue represents the best of the best in many ways as it is a quintessential dive bar that not only has the ability to offer liquor, dancing, entertainment, and parking, but it also boasts a full kitchen, stellar reputation, loyal following and nearly a half of century of goodwill! This bar, which was established in the 1960’s, has seen few changes over the years and exudes its original ambiance and authentic character as a result. The sale includes all of the bars furniture, fixtures, equipment (with minor exceptions), leasehold, goodwill and Type 47 Liquor License. The facility has a manager’s office and liquor room, a spacious kitchen and two rest rooms.

Property information

Real Estate:

Lease

Lease terms:

This 2,000 square foot facility leases for $8,100 per month including common area maintenance (CAM), plus a small portion of percentage rent (approx. $500) on a leas until November 2016 with one 5 year option.

Location:

This 2,000 square foot facility leases for $8,100 per month including common area maintenance (CAM), plus a small portion of percentage rent (approx. $500) on a leas until November 2016 with one 5 year option. The facility’s official occupancy is for 100 patrons.

Size in square feet:

2,000

Other information

Expansion potential:

While this bar regularly posts over $800,000 in gross revenues, multiple opportunities exist to increase revenues, reduce costs and bolster the venue’s profits. Though new owners may seek to initially renovate the facility, larger gains may be realized by adjusting the bar and dining menu’s as well as their prices, implementing a door charge and enforcing drink minimums, reducing promotion expenses, utilizing drink pour controls and analyzing staff effectiveness. As the current owner does not cover a shift, a tremendous saving may immediately be achieved by a full-time owner-operator who covers a shift or does in-house promotion.

Competition / Market:

This bar has amassed a loyal following of locals as well as regulars from afar that frequent it for several different reasons. As such, competition naturally exists from other bars on different levels, however, no single venue can come close to competing with this opportunity in terms of its comprehensive day and evening bar, restaurant / lounge and nightly entertainment offerings.

Support & training:

2 wks at 20 hrs/wk

Reasons for selling:

Personal

Financing available:

Not Offered

Furniture / Fixtures value:

$30,000 (included in the asking price)

Inventory / Stock value:

$75,000