Unique Hollywood Restaurant & Bar with Unbelievable Location

Location: California, United States
Category: Food and Beverage
Type: Established

Financials

Asking Price: $1,200,000
Cash flow: $141,016
Revenue: Not Disclosed
Gross Income: $530,630
Inventory: Not Disclosed
FF&E $45,000 - Included in the Asking Price
Real Estate: Not Disclosed

Business Details

This restaurant and bar is located in one of the best locations in Hollywood. The location comes complete with 2,250 of prime ground floor square footage, a patio, and over 2,200 square feet of basement and office space. This restaurant and bar has operated as a food service provider since the 1940s. The location comes complete with a full kitchen, a bar and lounge area and a patio. In addition, there are two restrooms, two dumbwaiters, a 300 square foot office that may be turned into a DJ booth, and over 2,000 square feet of food preparation / food storage and potential office space in the basement.

Facilities:
Monthly rent on the 4,500 square foot facility is $5,500 (including CAM) until approx. Jan. 2008, with a 5 year option and future options to be determined. This restaurant historically operated with a 41 onsite beer and wine license, which was just upgraded to a 47 liquor license. Current occupancy is 56, however, an amendment to increase capacity will be submitted once a reconfiguration takes place which is currently underway.

Financing:
Not Offered

Support:
2 weeks at 20 hrs/wk.

Competition:
This restaurant occupies a unique market niche, as it has a unique concept and an unbeatable Hollywood location with a patio.

Growth:
Hollywood Boulevard has experienced unsurpassed development in recent months, and will continue to be the city s entertainment epicenter for years to come particularly once the proposed high end hotels are opened in the coming years.

General Information

Reason Selling: Personal

Number of Employees: 9
Year Established: 2003