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Santa Monica Beer & Wine Bar With No Food Required
Location: United States -> California -> Southern California - Los Angeles Area
Industry: Bars and Nightclubs > Bars and Pubs

Business Summary

This recently refurbished and themed fully absentee-operated Santa Monica beer and wine bar with no food requirement is a neighborhood favorite that boasts an eclectic concept and draws the majority of its traffic from young, professional Westside hipsters, local South Santa Monica residents as well as from a healthy dose of city college students. The venue has historically thrived with limited operating hours by maintaining health margins and capitalizing on its college area location, parking lot and customer embraced concept. The bar offers patrons music entertainment provided by a disc jockey (DJ) but no live entertainment or dancing.
The 1,300 square foot facility is operating at a reduced rate of $2,500 per month during the pandemic until 4/30/23, at which time it will go to fair market value with 3% annal increases on its 5-year option. The sale includes all the facility's furniture, fixtures and equipment, as well as the type 42 beer and wine license. The facility boats a new tap system and a custom-built walk-in cooler, which has reduced the electric bill by nearly 20%. What's more, the new system provides 125 beers per keg (due to reduced foam and spoilage) versus the old system's 100 per keg, which should result in higher margins going forward. The facility includes a manager's office and has a parking lot with approximately 20 spaces. The Santa Monica bar market is divided into 4 distinct categories. There is the Main Street Santa Monica market, the 3rd Street Promenade / Montana market, the East Santa Monica / Brentwood market, and the Santa Monica City College market. Within the Santa Monica City College market, this venue faces some direct competition, but dominates its neighborhood.


Asking Price Range:  < $250K
Gross Revenues:   $144,000
Cash Flow:   Seller Will Provide
Cash Flow Type:  Sellers Discretionary Cash
Inventory:  $5,000
Seller Financing:  Not Disclosed

About The Business

Year Established:  1961
Number of Employees:  4 - 5
Relocatable:  No
Franchise:  Not Disclosed
Current Real Estate:  Leased

About The Sale

Management Training and Support:  Seller will train for 2 weeks at 20 hours per week
Reason For Selling:  Personal

Print Listing Id: 700374884
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Related Searches: Bars and Pubs  >  Nightclubs  >  Other Bars and Nightclubs  > 

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