Torrance Area Bar With Property Price Reduced For Sale

Business description

This stable, absentee owned Torrance Area beer and wine bar is a great local sports bar during the day, and a uniquely eclectic place with live bands and DJ’s at night. The venue with consistent profitability presents the aspiring bar owner the type of opportunity that many seek but rarely find. That is, a consistent absentee owned “local favorite” that is simple to run, easily manageable and with remaining growth potential. What’s more, this bar offers a buyer one of the most valuable asses of all – a high percentage of cash in the operation coupled with an agreeable, buyer friendly landlord who seeks to have a successful long-term tenant. The bar, with an indoor and outdoor patio, has an occupancy of over 100 person, and offers patrons billiards, video games, music, televisions, and live entertainment.

Property information

Real Estate:

Lease

Location:

The 1,800 square foot beer and wine bar has a parking lot, patio, storage area, two restrooms and a manager’s office. The facility leases for $5,000 per month, on a long-term lease with term and options to be negotiated. The facility has a 15 foot by 11 foot bar, as well as a large walk-in refrigerator / cooler. All of the equipment, except for the video games, are owned outright and will be included in the sale. The seller, who is also the landlord, is now willing to sell both the business and the coveted property for $1.5 ml.!

Size in square feet:

1,800

Other information

Expansion potential:

This venue has been and consistent and stable earner since the 1980s. As such, with the exception of working there themselves, a buyer may not seek to make any modifications to the venue. Opportunities for increased profitability include the implementation of food service (health department permits are already in place), increased promotions, which may include more frequent concert and event (boxing, UFC fights, sports, etc.) offerings, or special celebrations (larger Cinco de Mayo, St. Patrick’s Day, etc. events). At present, the bar’s simplicity and ‘local’ entertainment mix have provided it a recipe for continued success – but room for growth still exists!

Competition / Market:

The local bar market in the South Bay and its surrounds continues to thrive despite the downturn that has been experienced in beachside tourist bars. This location is a stable earner that enjoys a loyal local, cash-paying patronage.

Support & training:

2 wks at 20 hrs/wk

Reasons for selling:

Personal

Financing available:

Not Offered

Furniture / Fixtures value:

$50,000 (included in the asking price)

Inventory / Stock value:

$3,000