Long Beach Bar & Restaurant w/Ideal Patio, Dance & Entertainment – Great Rent

Long Beach Bar & Restaurant w/Ideal Patio, Dance & Entertainment – Great Rent

Long Beach, CA (Los Angeles County)


Asking 
$875,000
Gross Revenue 
$2,000,000
Potential Cash Flow 
$320,000

This Long Beach bar and restaurant boasts an ideal outdoor patio with an unmatched view, plenty of onsite parking, dance and live entertainment – all at a highly attractive lease rate. The venue, which has continuously operated since the mid-1970s, is comprised of several rooms that allow management to host several events or partition off the bar or restaurant space as customer demand merits. The spacious kitchen has a comprehensive line that includes convection ovens, pizza ovens as well as a large griddle, grill, stove, deep fryer, two ice machines, a long food preparation line and a walk-in cooler and freezer.

Inventory 
$10,000 at cost at close

Accounts Receivable Included in Asking
No

Facilities

This 9,300 square foot facility with an outdoor patio leases for $13,000 per month on a lease until 2023 with one 10 year option. All of the business’s furniture, fixtures, equipment, goodwill, Type 47 Liquor License, and any applicable dance and entertainment permits will be included in the sale. Approximately $10,000 in liquor inventory will be sold at cost at close in addition to purchase price.


Competition

While competition exists for dining, drinking and entertainment venues, few competitors occupy the type of space or possess the attractive lease rate that this one does. Fewer still have the spacious onsite parking availability or the type of unique location with the stellar views this one has.


Growth & Expansion

New operators may choose to maintain the existing concept or they may capitalize on the attractive lease rate, location, liquor license and entertainment offerings to launch any number of new concepts. The facility has the space to simultaneously host 100+ guest banquets or special events during regular business operations, which provides the new owner the ability to diversify the income stream.


Support & Training

2 Weeks at 20 hrs/wk


Reason for Selling

Personal


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