Asking Price: $ 395,000 cash or offer
Type of Business: Type 48 Cocktail Bar with Full kitchen
Location: Los Angeles County
Hours of Operation: 10 AM – 2 AM
Gross Sales: $ Asset sale, opened 1/2020 after full remodel, closed March 2020. Did $20K -22K / mo
Adjusted Net Profit: $ up to Buyer
Total Rent: $ 2975 / mo
NNN: $ 4000 / yr. property taxes
Length of Lease: New 5 year lease. Rent fixed for 2 years. year 3-5 rent fixed at $3175 / mo
Options: 5 years, good terms
Sq. Ft. 1500
Number of Employees:
Full time: 6 Part-time: 2
Payroll: $ 14000+
Insurance: $ 250 / mo.
Gas: $ 350
Electric: $ 400, new efficient A/C unit
Water: $ 175
Phone: $ 300 , phone, TV, internet
Trash: $ 50 / mo each shared with 2 other units
Internet and TV: included above
Cost of goods: N/A
Corner end unit on busy street, Established location, but this seller took over last year He remodeled the place Jan 2020 & opened before he had to close in March. Clean & neat bar, small kitchen with hood,( new type ANSUL system), grill, fryer, 4 burner stove & 2 ovens, reach in cooler & freezer. 8 seat bar with new ice machine, bar gun, 4 tap kegerator,. The bar is clean & neat, looks really nice inside. New roof & new AC unit. Small stage for entertainer, comedy, etc. 8 large flat screens for sports. Great sound system.16 color camera security system monitors the action. He was open 2 months before he has to close. Sales were building. Lots of traffic, neighborhoods next door & commercial. The place has a lot of potential for a hands on operator. Seller is landlord & is a bar owner for decades. He will train for 1 month at COE & be around if buyer needs more help or question s. (He wants his tenant to be successful). Knowledgeable & nice seller. Must see.
Call for more details.