Restaurant Near Beach With Full Liquor & Entertainment For Sale

Business description

Over the years, this brokerage office has received 100’s of calls for Manhattan, Hermosa and Redondo Beach Bars and Restaurants near the water with full liquor. This opportunity not only comes with full liquor and a sizable restaurant, but it also provides the buyer the opportunity to obtain one of the rarest commodities available in these coveted beachside markets – a liquor license with no major conditions (serve until 1:30 am whereas most neighbors have to cease sales at midnight), the ability to have a DJ or live entertainment, dancing, and a long term lease offering up to 15 years of coverage. If you’ve sought a sizeable venue with these unique attributes, it may be years before another such opportunity comes available.

Property information

Lease terms:

The 3,500 square foot bar, restaurant, dance and entertainment center leases for $13,300 per month (base rent) on a lease with approximately 7 years remaining and two four year options. In addition to base rent in this NNN lease, the tenant covers all expenses; the lease and its options increase at an annual rate of 7%. The restaurant and bar sale includes a Type 47 liquor license, and all of the necessary furniture, fixtures and equipment paid off in the sale. The facility offers patrons a sizeable bar, a performance / dance area, an oversize walk-in cooler, and a manager’s office. While there is a great deal of walk traffic in the area, nearby parking lots help insure that parking is not a major issue (though its naturally limited anywhere in the high traffic South Bay areas).

Living accommodation:

This venue has all of the attributes to become these beach communities’ top venue. At present, the bar and restaurants’ unique concept have provided it a successful niche, however, a buyer may be successful in taking the space and its licenses in any direction they choose as it may not be at its current ‘highest and best use’.

Other information

Expansion potential:

The South Bay is a thriving bar and restaurant market due to is upscale resident base, and heavy visitor flow. This bar and restaurant has carved out a unique market niche with its concept, but its advantageous liquor license with liquor sales permitted until 1:30 am, and its entertainment permits provide it a natural competitive advantage over less fortunate venues for the implementation of any concept.

Support & training:

2 wks at 20 hrs/wk

Reasons for selling:

Personal

Trading hours:

Tues-Thurs 5p-1a; Fri 4p-2a; Sat 1p-2a; Sun 11a-1a

Financing available:

Not Offered

Furniture / Fixtures value:

$80,000 (included in the asking price)