This bar with a full kitchen is located in the greater Santa Monica area. The bar is widely considered to be the best in the area and is known for its menu offerings and convivial atmosphere. The menu offers a range of dishes from classic comfort foods to innovative culinary creations, along with a selection of craft cocktails and local beers. The venue often hosts live music events, contributing to its lively ambiance and making it a favored spot for both locals and visitors seeking good food, drinks, and entertainment.
- Asking Price:
- $525,000 Furniture / Fixtures included
- Sales Revenue:
- $1,943,524
- Cash Flow:
- $30,561
Property Information
- Real Estate:
-
Lease
- Location:
-
Retail
- Premises Details:
-
This 2,400 square foot location leases for $10k per month on a lease until August 2028 with one 5 year option to extend. The venue boasts 2 walk-in coolers, new plumbing and electric with a buildout that is under 10 years old, a 10-tap beer system, a manager’s offer as well as onsite parking. The bar and restaurant has an official occupancy for 95 patrons, but can accommodate up to 125. All of the business’s furniture, fixtures, equipment and Type 47 Liquor License will be included in the sale. An estimated $5,000 in inventory will be sold at cost at close.
- Size in square feet:
- 2,400
Business Operation
- Expansion Potential:
-
New management will likely want to capitalize on a formula that has proven successful, while being mindful of several expense categories that amount to over $200k in costs, that may be reduced via in-house staff coupled with an active owner-operator.
- Competition / Market:
-
Although the greater Santa Monica area is considered to be a highly competitive marketplace for bars and restaurants, this market leader is located in a highly coveted area that caters to its own neighborhood market segment. As a result, the location enjoys a bit of insulation from the more touristy areas with fierce competition.
- Reasons for selling:
-
Personal
- Employees:
- 25
- Years established:
- 2015
Other Information
- Support & training:
-
Seller will train for 2 weeks at 20hrs per week or as negotiated.
- Owner financing:
- Owner financing is available. Please contact the seller for more information.
- Financing available:
-
Seller will carry a small, secured carry to a creditworthy buyer with sufficient experience to facilitate an SBA or conventional loan, based on the overall offer.
- Furniture / Fixtures value:
- $40,000 - included in the asking price
- Inventory / Stock value:
- $5,000
