Westwood Restaurant & Bar With Full Liquor & 2 Patios
Location:
United States
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California
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Southern California - Los Angeles Area
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Los Angeles
Industry: Food and Beverage > Restaurants and Fast Food (Non-Franchise)
Business Summary
This well established Westwood restaurant and bar for sale, with full liquor and two patios is ideally located on popular Westwood Boulevard (South of Wilshire - not in Westwood Village and not directly adjacent to the U.C.L.A. campus). This restaurant boasts two patios, a service bar providing for alcohol along with food service, a spacious kitchen, separated dining areas, a manager's office, separate employee rest room, and a parking lot with additional spaces on lease. This restaurant has been a neighborhood favorite for decades, and can continue to thrive under its current concept, or under a modified concept. Asking Price $350,000.
The 2,640 square foot facility leases for $7,000 per month on a lease until 2013, with options to be negotiated during the sale. The sale includes all of the business assets (except for a few minor items), including a fully built out bar and seating for over 90 patrons (over 70 indoor). The liquor license is included and will transfer in the sale.
The corridor of Westwood Boulevard, between Wilshire and Pico, is a highly popular area for formidable bar and restaurant venues. As such, competition naturally exists. This business has a natural competitive advantage due to its decades of goodwill, parking availability, full-liquor license, and its ease of access to the U.C.L.A. Campus, the 405 Freeway, and several additional major throughways.
A new owner may seek to capitalize on the business's full liquor license and patios by promoting a more extensive drink menu and cocktail-oriented food offerings. They may also seek to convert a portion of the facility to a private dining room for large families or special events.
Financials
Asking Price Range: $250K - $500K
Gross Revenues:
$630,785
Cash Flow:
$131,000
Cash Flow Type: Sellers Discretionary Cash
Seller Financing: No
About The Business
Year Established: 1994
Number of Employees: 6 - 9
Relocatable: No
Franchise: No
Current Real Estate: Leased
Property: Property For Lease
About The Sale
Management Training and Support: 2 weeks at 20 hours / week.
Reason For Selling: Retirement.
Click on the "I'm Interested" button above for more information on this Food and Beverage > Restaurants and Fast Food (Non-Franchise) business for sale.
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Print Listing Id: 700112612
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