Close

Choose your country

Or view all businesses for sale

Worldwide

Advertisement

Downtown Toronto Bars/ Rooftops Patio For Sale

Toronto, Ontario, Canada
Asking Price:
$250K - $500K (CAD) Furniture / Fixtures included
Sales Revenue:
$1M - $5M (CAD)
Cash Flow:
$100K - $250K (CAD)

2 Licenced Bars over 4 floors, Live Entertainment Venue, Private rooms, Kitchen, Longstanding Legendary Party Bar + Rooftop Patio in the centre of the Entertainment District, Major hotel chains, TIFF, Rogers Centre, Mirvish Theatres, Subways, Go Transit, and thousand of Condo residents living within seconds of this building.

Parades of people walking right past your doorstep on Toronto's busiest travelled King Street, day and night time.
.
We have been at this building now for nearly 20 years and have maintained our reputation as the place to gather and party at one of the safest destinations around. Hotel concierges are always directing their guests looking for a fun night out to our address (365 King Street).
Our Google reviews don't lie!!

I am sub-leasing/selling because I have been in this most awesome business for over 32 years. My interests are now in different directions away from hospitality in general. This opportunity that I am listing is for someone who would live and breath the idea of entertaining in a fully useful and functional venue.
If you have experience (which I strongly suggest), and a network within your reach, along with a marketing skillset, then you may have found yourself the perfect business.

Break down: Two liquor licences; 1) 190 persons, 2) 352 persons
Total size 7200sq2
Lease good to October 2022, with tenant option to renew
Total Rent for both licences 50k per month
Average monthly sales both licences $150K

There is also a Sub-tenant operating the 5th floor kitchen who pays $4k/month. They are awesome partners who bring in a lot of traffic into the building. They also negate any cost/concerns with food aspect within the building and service all of our customers their most excellent take on Japanese street food. No food headaches!!

The Price for both licences is $350k plus $113k (deposits), including the name(s) of the business'.
This will be an asset sale and an assignment of the lease.
The Sub-lease option will be for only the 3 floors including Roof-top. This will include 1st and Last 2 Months of rent (approximately 81k). The sub-tenant would assume (ALL) equipment and leaseholds and maintain through the duration of the term (2.8 years). At the conclusion of the term, the Sub-tenant will have the option to vacate, leaving g all equipment in working order, or, begin a new lease directly with the Lanldord.

The 3rd option would be a Co-op with my company. There would be a partnership. I would maintain the lease and the licence for the balance of the existing term (2.8 years), and the other partner would operate/market the business. The only money required would be a split of existing deposit 50% of 56k. I would provide all hands on training and instructions to effectively operate.

Now is the time to make this happen as spring Patio season is only 8 weeks away. Conduct your leaseholds in one business while the other is earing you $$$.

Should you wish to purchase the venues individually, the figures would be:

Underground Garage Urban Saloon $300k plus deposits
Underground Loft $50K plus deposits.

Please notify the owner, Rob, through this websites porthole.

Cheers!!

Property Information

Real Estate:

Lease

Lease Terms:

2 plus 8 months, years plus 5 year tenants option

Location:

Busy corner of King St. and Blue Jays Way.

Premises Details:

Space occupies 2nd, 4th, 5th and 6th floor with a heated rooftop patio

Size in square feet:
7200sq2

Business Operation

Expansion Potential:

Possibility of partially enclosing rooftop for 4-season use

Competition / Market:

Already a busy address with legendary business located at the same address. Great overflow with joint interests.

Reasons for selling:

Changing interests

Trading hours:

7 days per weeek

Employees:
4-15 seasonal part time
Years established:
19

Other Information

Support & training:

Will provide hands - on training for 3 months during licence transfer

Furniture / Fixtures value:
$150,000 (CAD) - included in the asking price
Website:
Login or register to view link
Related Documents:

Contact Information

    1. Your Address

    2. Optional
  1. Optional
  1. What will I receive?

    BusinessesForSale.com is committed to protecting your privacy. Ticking this box means you are consenting to us sending you marketing emails.

    You will receive newsletters, updates and offers about business and franchise opportunities. We will also send you information about related business and franchise events.

    You can change your mind at any time by clicking unsubscribe in the footer of our emails.

    Find out more about what we do with your information in our privacy policy.

By submitting this form, you confirm that you agree to our Terms and Conditions. Please note that BusinessesForSale.com will send the above details to the seller of this business. Find out more about what we do with your information in our privacy policy.

Selling your business?

If you own a business and are considering selling, visit our Sell a Business section. Limited Free Trial available.

Sell Your Business

Are you a Business Owner?

Set up your Private Seller Account and create your listing today

Get Started Here

Are you a Business Broker?

Set up your BrokerWeb Account and list multiple businesses

Get Started Here