Business for Sale Overview:
This Restaurant/Bar was famous in the area and highly successful as "The Top of the Home" for over twenty years. Restaurant and bar are located on the fifth floor of a mixed use building in the very fashionable downtown area of Hollywood. The inside area is about 3,000 sq. ft. with a terrace of 1,700 sq. ft. overlooking Hollywood and the Ocean to the east. There is access to the swimming pool on the south side of the building. The prior tenant removed everything except the Hood, Bar and two walk-ins and the walk-in freezer. The Landlord will give rent concessions to assist an experienced operator. This is a chance to own a million dollar restaurant/bar for short money. The location was appraised for $950,000 in 2005 while it was operational. If you KNOW the business, this is a huge opportunity.
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:
Facilities: Lease rate is $12/sq. ft. Space is 4,690 sq. ft. on the 5th floor of a mixed use building in the heart of Hollywood, right at Young Circle. The building is 18 floors, floors one through ten are commercial and upper floors are residential condominiums.
Location Description Neighborhood located in the middle of a gentrification area with many restaurants of a variety of venues.. This "downtown" area has become a destination for a very desirable clientele.
Current & Prior Use: Property has a history of a successful restaurant/bar. Last tenant with substantial legal problems sold of the FF & E leaving the business without paying.
Current Property Expenses: Expenses are at 5.30 per foot including insurance, taxes and maintenance.
Additional Details:
- The property is leased.
- The owner is not 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.
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