This semi-absentee owned Studio City / North Hollywood Area Restaurant, Bar and Lounge offers its buyer a highly visible location that boasts an ideal patio, a well-appointed and completely refurbished bar with full liquor, management offices and storage area, and most importantly, a 25 year track record of strong profits, stable growth and significant future growth potential. What’s more, the venue has recently had several significant capital improvements, helping to ensure that new management can simply focus on continuing to grow the customer embraced venue in the same manner that current management has done!

This prominently located 3,500 square foot facility plus large patio, oversize storage area and owner’s office with a full bathroom and 10 parking spaces will lease for $9,500 per month on a lease that expires in 2018 with one 5 year option. The sale includes all of the business’s assets including its Type 47 Liquor License, its interior seating for 105 patrons plus perhaps 30 additional on the patio, a complete POS system, a liquor room, manager’s offices, spacious storage area, a complete kitchen with an oven, stove, grill, deep fryer, salad prep table, ice machine, two door fridge, walk-in cooler, and three bucket sink, and oversize dry storage area. Alcohol and food and supplies inventory will be sold at cost at close.

This restaurant faces competition on various levels as both Studio City and the neighboring North Hollywood Arts District are highly popular restaurant, bar and lounge markets. This venue has now been established for nearly 25 years and has created its own market niche while fostering a loyal client base.

As the business already performs extraordinarily well, with all of the necessary capital improvements made to the facility, new owners will not likely seek to make too significant of changes to the current business structure – but rather, focus on its continued restaurant growth, promoting the bar and perhaps expanding the catering portion of the business.

2 Weeks at 20 hrs/wk

Posted Aug 24, 2016

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