Downtown Los Angeles Modern Italian Restaurant For Sale

Business description

This downtown Los Angeles modern Italian restaurant with beer and wine is ideally located in a high daytime foot traffic area. This highly sought after location offers an operator a desirable rent and has a built-in professional and student clientele. The venue, which comes with patio seating, a large storage and dry storage area, and spacious manager’s offices, may be ideal for an owner who seeks to maintain the current proven concept, or for the entrepreneur who seek to capitalize on the build-out, client base and fantastic rent to launch a new concept

Property information

Real Estate:

Lease

Lease terms:

This prominently located 2,350 square foot facility leases for $2,600 per month on a lease until November 2016, with options to be negotiated.

Location:

This prominently located 2,350 square foot facility leases for $2,600 per month on a lease until November 2016, with options to be negotiated. The sale includes all of the business’s assets including a kitchen with a stove, grill, convection oven, salad prep tables, a walk in cooler, a two door and a one door freezer, a beer and wine license and seating and service for the 72 plus patrons its authorized to serve. Nearby parking spaces lease for $120 per month, whereas they are far less only blocks away.

Size in square feet:

2,350

Other information

Expansion potential:

The current business caters to the restaurant’s dominant lunch crowd. As such, new owners will seek to capitalize on the tremendous growth that downtown Los Angeles has experienced, and that this corner is set to experience by the end of summer, by modifying the evening offering to draw in patrons who reside in the area or will be coming to downtown’s newest dining and entertainment destination. To do so, they may seek to modify the dinner menu, offer event nights such as jazz or alternately themed nights (subject to the conditional use permit), etc. or launch an entirely new concept that is more bar and entertainment oriented such as a gastro pub, an Irish pub, or a tapas bar. As the restaurant does not do or promote delivery service, new management will likely seek to grow in this area as well.

Competition / Market:

This restaurant does face competition on various levels in the immediate area, however, it has carved out a dominant niche in its category. As such, new owners may seek to maintain the proven concept or only slightly modify

Support & training:

2 wks at 20 hrs/wk

Reasons for selling:

Personal