* Included in Asking Price
50 Year Icon-restaurant/bar/bakery- $586,000 Annual Profit-full Bar- Entertainment- Banquets
Asking Price: $1,690,000
Location: Los Angeles County, Los Angeles County, California
Yearly Revenue: $3,500,004
Yearly Cash Flow: $586,200
Monthly Rent: 18000 gross, no annual
This is a unique opportunity to own a well established Landmark restaurant. Originally opening in 1958 as a small coffee shop, the current owner purchased the restaurant 50 years ago and has added on year after year. 50 years later they have 15,000 sq. ft, and seating for 400, operating a very successful restaurant, bar, bakery, catering and special event venue in a charming, upscale town. With multiple dining rooms, bars, and patios, one can easily operate one concept or multiple concepts under the same roof at the same time. Features two main dining rooms, 4 separate bars, private dining rooms, Espresso bar, 2 large covered dining patios, 3 connected cottage dining rooms separated by french doors, complete with fireplace and seating for 120/35/30 persons. Serving California and International cuisine main dishes, appetizers, salads, desserts and cocktails. This is a popular spot for special events and weddings. Offers an ABC type 47, Catering type 58 and entertainment licenses. Full, well equipped kitchen with 3 walk in refrigerators, 1 walk in freezer, 2 hooded cook lines 20 ft and 14 ft., grease trap, Aloha POS system with 8 stations, security system, sound system, 35 ft wine storage room, dry storage room, equipment storage room, wait station, dish washing room and 3 comfortable offices. Complete bakery kitchen downstairs with it''s own walk-in refrigerator and walk-in freezer & French trained bakery staff of 4. Six ADA restrooms with multiple stalls. Large patio features water fountain, couch seating, dining tables chairs and stage area for entertainment. The owner previously operated a night club Fri-Sat nights from 11:00 pm to 2:00 am and they generated an additional $60,000 dollars in revenue per month. Owner is retiring. Will assist with negotiating longer lease with landlord.
Organization: Sole Proprietorship | Year Established: 1958 | Current Owner: 1973 | Employees: 60 | Seating: 400 | Square Footage: 15000 | Parking: Street and public lot | Licenses Required: Health Dept. ABC, City Business License | Days Open/Hours: Sun-Wed 8 am-9 pm, Thurs-Sat 8 am-12 am | Reason For Sale: Retirement |
Yearly Revenues: $3,500,004 | Yearly Cash Flow: $586,200 |
Monthly Rent: 18000 gross, no annual | Lease Expiration: 2022 | Lease Option: 2-5 year options | Security Deposit: yes |
Seller Reference #2803
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