Business For Sale

Old Pasadena Restaurant & Bar – Successful Concept

Pasadena, CA
Los Angeles County


Asking Price: Annual Revenue:
$450,000 $1,260,000

Food & Beverage: Restaurants, Fast Food, Deli


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RE: Old Pasadena Restaurant & Bar – Successful Concept Broker: Ryan Clark

Quick Facts

Asking Price: $450,000
Annual Revenue: $1,260,000
Net Profit: Not Disclosed
Cash Flow: $200,000
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: 2007
Employees: 10
BBN Listing #: 22184929
Broker Reference #: BrixPas

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Business Overview:

This Old Pasadena restaurant and bar with beer and wine boasts a successful concept that exudes character and has been an area favorite for nearly 10 years. The popular modern – chic venue is ideally located in a quaint high traffic Old Pasadena location without the rent typically found nearby on Colorado boulevard. The facility has 2 separate dining rooms, a beer and wine bar, a large dry storage room, and a sizeable hood that covers a stove and oven, grill, griddle and deep fryer.



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Property Features and Assets:

This 3,200 square foot bar and restaurant leases for $6,304 per month on a lease that expires in 2018 with one 5 year option. All of the business's furniture, fixtures, equipment and Type 41 Beer & Wine License will be included in the sale. Approximately $5,000 in inventory will be sold at cost at close.

Market Competition and Expansion:

Old Pasadena is a highly competitive dining and entertainment market. This venue, however, has carved out a market niche and made it a favorite among its loyal client base – as evidenced by its roughly $100,000 in monthly revenues. New operators may wish to maintain the current concept, or capitalize on the venue’s popularity by launching an entirely new concept from the versatile space that is comprised of separate dining rooms and a bar. As the current operator is semi-absentee and only oversees the venue’s banquet bookings and food purchases, the business could likely benefit from a full-time onsite working owner that is perhaps a chef or a hospitality general manager. Such an operator would also stand to likely increase profitability via wage expense savings.

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.

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