This popular Long Beach area live music venue has been a hit with patrons since the middle 1970s. The 2,500+ square foot venue has entitlements for live entertainment, DJs and dancing. The venue, which is nestled in a popular Long Beach neighborhood, boasts an eclectic offering comprised of club nights and recorded music as well as variety style offerings to satisfy a diversity of tastes and entertainment preferences. The business’s old-school dive bar character, pool tables and lively crowd help to foster an ideal atmosphere for spirited evening entertainment.
- Asking Price:
- $390,000 Furniture / Fixtures included
- Sales Revenue:
- $200,000
- Cash Flow:
- $12,000
Property Information
- Real Estate:
-
Lease
- Lease Terms:
-
Lease expires on July 2026
- Leasehold Rent:
-
$63,024 per annum
- Premises Details:
-
This 2,530 square foot venue leases for $5,252 per month including common area maintenance (CAM) expense on a lease until July 2026 with one 5-year option. All of the business’s furniture, fixtures, equipment, Type 48 Liquor License and goodwill will be included in the sale. An estimated $5,000 inventory will be sold at cost at close in addition to purchase price.
- Size in square feet:
- 2,252
Business Operation
- Expansion Potential:
-
New operators will likely want to capitalize on the special place this venue has held in generations of patron’s hearts by adding and complementing the strong foundation that has already been established. This may include further expanding the entertainment offerings, opening in the early evenings to lengthen service hours, hosting special events prior to live music or DJ performances and more. Of course, the business can certainly benefit from the experience of a seasoned hospitality owner-operator that can minimize costs and ensure and optimal drink menu offering and customer service experience.
- Competition / Market:
-
As this venue is located in a popular drinking and entertainment district of Long Beach, the business clearly faces competition from a variety of alternate venues. With that said, the 50+ year old business remains an incumbent go to bar for certain types of entertainment, genres and live entertainment and more. As such notoriety cannot be easily replicated, the business’s longstanding reputation and tremendous goodwill will provide it a unique long-term competitive advantage!
- Reasons for selling:
-
Retirement
- Employees:
- 2
- Years established:
- 1977
Other Information
- Support & training:
-
Seller will train for 1 week at 20hrs
- Financing available:
-
Seller will agree to a small secured carry for a creditworthy buyer, based on their overall offer and experience, in order to facilitate an SBA or conventional loan.
- Furniture / Fixtures value:
- $30,000 - included in the asking price
- Inventory / Stock value:
- $5,000
