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Silverlake Restaurant Bar With Property In Los Angeles For Sale

Los Angeles, California - South, US
Asking Price:
$2,900,000
Sales Revenue:
$2,029,831
Cash Flow:
$219,950

This Silverlake restaurant and bar with liquor, onsite parking, and excellent street visibility boasts what may arguably be the most coveted outdoor patio in the area. The restaurant has 2 separate interior dining areas that open into an adjacent 12 seat bar as well as its outdoor patio and manager’s office.

The kitchen has a large walk-in cooler, a separate walk-in freezer, a large dry storage room, prep room and a comprehensive line with deep fryers, a grill, a griddle, stove and 2 convection ovens.

Both the business and prominent corner property real estate are included at this price!

Property Information

Real Estate:

Real Property Included

Premises Details:

This 4,600 square foot venue has seating for just over 100 inside. It boasts a remarkable 1,900 square foot patio that can accommodate nearly 100 outside. The owner-occupied premise leases for $17.2/mo on a lease until 2033 with a 10-year option. The business’s furniture, fixtures, equipment, goodwill and Type 47 Liquor License will be included. An estimated $10k in inventory will be sold at cost at close.

Size in square feet:
4,606

Business Operation

Expansion Potential:

New operators may continue with the current concept, which has proven successful for over 40 years , with the exception of the COVID years and the recent writer’s strike, or they may capitalize on the venue’s flexible layout and entitlements to become a new location for an existing chain, or the flagship location from which a new concept may be launched.

Competition / Market:

While competition exists throughout the ever popular Silverlake, Los Feliz, Echo Park and Atwater Village enclaves, few if any venues have comparable visibility, as attractive of a layout or as spacious patio space.

Reasons for selling:

Personal

Employees:
25
Years established:
1980

Other Information

Support & training:

Seller will train for 2 weeks at 20 hours per week or as negotiated.

Financing available:

Seller will consider a small secured carry to facilittate an SBA loan (e.g. maximum 5-10% of busienss price if bank requires)

Furniture / Fixtures value:
$40,000
Inventory / Stock value:
$10,000