Business for Sale Overview:
This bar, restaurant, lounge and much more, is one of Old Pasadena’s finest facilities in one of its best locations. No expense has been spared completing this first class facility that has had over $3.5 million in total investment, which is well suited to become part of a national chain, to be a formidable owner-operated venue, or to be the location from which the aggressive entrepreneur can launch a regional or national concept. The facility has full liquor permitted, as well as limited entertainment (no dancing or live music, but DJ, happy hours and door cover charges should be permitted).
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
This 9,000 square feet facility leases for an already ‘relaxed’ $20,000 per month, with a lease until April 2015, and options to be negotiated with assignment. The restaurant is equipment with an over sized kitchen, suitable for simultaneous food preparation for 500 plus patrons, an unbelievable build-out with a recent $1 million renovation, and tremendous $600,000 - $ 700,000 investment in this venue’s unique niche market concept. The location’s occupancy is 340 plus patrons.
Market Competition and Expansion:
This business is located in the heart of Old Pasadena, on or very close to the Colorado Boulevard’s entertainment district. There are several entertainment venues in the area, however, none can provide the unique offering that this location is specially equipped and licensed / permitted to provide providing it a unique competitive advantage over the competition.
A buyer will likely seek to build upon the current concept, incorporate it into a national brand, or use this as the base from which to launch a national brand in this unique market niche. Given the location, licensing allowing for full alcohol sales, and the limited entertainment that is permitted, a new owner may seek to take this unique opportunity in any number of directions.
Reason for Selling:
Personal
Additional Details:
- The property is leased.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.