This established Long Beach neighborhood restaurant with a bar, full-liquor, and outdoor patio is located in a bustling, historic area of the city. The well-appointed venue with a versatile floor plan features a covered patio, a 6 tap beer delivery system, and a walk-in cooler. The current concept is known for its welcoming ambiance and upscale gastropub atmosphere suited for everyday dining, happy hour, weekend brunch and private events.
- Asking Price:
- $275,000 Furniture / Fixtures and Inventory / Stock included
- Sales Revenue:
- $1,400,000
- Cash Flow:
- $12,000
Property Information
- Real Estate:
-
Lease
- Leasehold Rent:
-
$94,800 per annum
- Premises Details:
-
This 2k square foot venue leases for $7k per month plus $900 in common area maintenance (CAM) expenses on a lease until 3/2030. All of the business’s furniture, fixtures, equipment and Type 47 Liquor License will be included in the sale. An estimated $10k in inventory will be sold at cost at close.
- Size in square feet:
- 2,000
Business Operation
- Expansion Potential:
-
The business presents new management meaningful growth opportunity given its historic popularity coupled with the vibrant, upscale neighborhood it’s located in. New operators can capitalize on the venue’s flexible build-out, entitlements, and prime location to implement any number of concepts.
- Competition / Market:
-
The business operates within a moderately competitive and well-established dining corridor surrounded by popular neighborhood restaurants, pubs and breweries. The venue is located in a popular location that housed a long-term customer embraced long time tenant – providing it’s a bit of an advantage as its known as a top quality food and drink destination.
- Reasons for selling:
-
Personal
- Employees:
- 18
- Years established:
- 2000
Other Information
- Support & training:
-
Seller will train for 1 day at 5hrs or as negotiated
- Owner financing:
- Owner financing is available. Please contact the seller for more information.
- Financing available:
-
The seller may consider a $50k seller carry for 3 years
- Furniture / Fixtures value:
- $30,000 - included in the asking price
- Inventory / Stock value:
- $10,000 - included in the asking price
