Melrose Ave./La Brea Area Turnkey Restaurant W/ Type 47 License
Asset Sale Description
Reimagined Melrose Bistro
This 2,484 sq. ft restaurant and Bar is located in the heart of Melrose Ave. just west of La Brea Ave. with its own additional 434sf private patio, a total of 90 seats are permitted per the CUB. A type 47 ABC License is included in the purchase permitting a full bar of craft cocktails as well as a curated, rotating selection of natural and hand selected biodynamic wines. This restaurant is located in one of LA’s trendiest restaurant neighborhoods and draws from West Hollywood, Hancock Park, and LA’s Media District and has been successful since opening.
The current lease term expires 10/31/28 plus has 2 x 5 year Options to extend @3% annually. Current monthly rent is $8,343.47/mo plus NNN's of $1,885.00/mo, the rent increases 3% annually.
Other highlights and features included in the sale are:
Fully Equipped Kitchen with Type 1 Hoods(2), one hood Rated For Open Flame, Walk-Ins(2), Custom designed Wood Burning Pizza Oven, prep kitchen and dishwasher area, grease interceptor,Full extensive FF&E list can be provided;
Located on one of the Trendiest blocks of Iconic Melrose Ave., surrounded by the Benjamin, Carmel, Roots, Frankies, Melrose Umbrella Co. Marathon Burger, Milk, The Groundlings Theatre, Mozza, Chi Spacca, Adidas, PaliHouse Hotel, Blu Jam Cafe, and LA Eyeworks and featured on Bravo, LA Times, Conde Nast Traveller and more……
Type 47 ABC License, bar has 2 wells (Full Liquor) Included, allows service:
7:00 a.m. to 11:00 p.m., Sunday to Thursday
7:00 a.m. to 12:00 a.m. (midnight), Friday, Saturday, and holidays.
The location is further bolstered by the surrounding large base of existing dense residential housing in the neighborhood and large amount of new and under construction housing (247 units) at 904 La Brea and 700 N. Highland, Creative Office (108,000sf) plus the 91 room Hotel at 1040 La Brea, The Sycamore twin tower production space buildings, and the pair of office/medical buildings at 7007 Romaine, all of which are within walking distance of this opportunity. The restaurant also enjoys use of a private parking lot on-site however patrons prefer to use on-site valet @ cost of $8.00.
