This Greater Echo Park area venue is celebrated for its diverse, welcoming, and relaxed atmosphere, inviting setting, and vibrant nightlife scene that parallels both the area and its denizens.
- Asking Price:
- $750,000 Furniture / Fixtures included
- Sales Revenue:
- $925,727
- Cash Flow:
- $167,582
Property Information
- Real Estate:
-
Lease
- Leasehold Rent:
-
$119,462 per annum
- Premises Details:
-
This 1,680 square foot venue leases for $10,712 per month, plus $488 insurance and $2,368 in annual property tax, on a secure long-term lease until 12/2030 with one 5 year option. All of the business’s furniture, fixtures, and equipment will be included in the sale. Approximately $10k in inventory will be sold at cost at close.
- Size in square feet:
- 1,680
Business Operation
- Expansion Potential:
-
This absentee operated bar can tremendously benefit from an onsite working owner with hospitality industry experience to simultaneously save costs while maximizing the customer service offering and ensuring attractive ticket sales. They can also continue to benefit from themed special events, themed and private parties, film rentals, and more of the same that have allowed the bar thrive through the years.
- Competition / Market:
-
This establishment boasts a storied history that is baked into its DNA, and has resulted in a loyal following that has made it a favorite go-to establishment. Some neighborhood venues compete by capitalizing on the latest trends (e.g. whisky or craft beer), their food and entertainment offerings, or their themed nights, however this venue has remained a market leader while its competitors have come and gone over the decades.
- Reasons for selling:
-
Retirement
- Years established:
- 1938
Other Information
- Support & training:
-
Seller will train for 2 weeks at 20hrs per week or as negotiated
- Furniture / Fixtures value:
- $50,000 - included in the asking price
- Inventory / Stock value:
- $10,000
