listing imageSave

Melrose Ave./La Brea Area Turnkey Restaurant W/ Type 47 License


Asking Price: $475,000

Asset Sale Description
This 2,484 sq. ft restaurant and Bar is located in the heart of Melrose Ave. just west of La Brea Ave. with its own additional 434sf private patio, a total of 90 seats are permitted per the CUB. A type 47 ABC License is included in the purchase permitting a full bar of craft cocktails as well as a curated, rotating selection of natural and hand selected biodynamic wines. This restaurant is located in one of LA’s trendiest restaurant neighborhoods and draws from West Hollywood, Hancock Park, and LA’s Media District and has been successful since opening.

The current lease term expires 10/31/28 plus has 2 x 5 year Options to extend @3% annually. Current monthly rent is $8,343.47/mo plus NNN's of $1,885.00/mo, the rent increases 3% annually.

Other highlights and features included in the sale are:
* Fully Equipped Kitchen with Type 1 Hoods(2), one hood Rated For Open Flame, Walk-Ins(2), Custom designed Wood Burning Pizza Oven, prep kitchen and dishwasher area, grease interceptor,Full extensive FF&E list can be provided;
* Located on one of the Trendiest blocks of Iconic Melrose Ave., surrounded by the Benjamin, Carmel, Roots, Frankies, Melrose Umbrella Co. Marathon Burger, Milk, The Groundlings Theatre, Mozza, Chi Spacca, Adidas, PaliHouse Hotel, Blu Jam Cafe, and LA Eyeworks and featured on Bravo, LA Times, Conde Nast Traveller and more……
* Type 47 ABC License, bar has 2 wells (Full Liquor) Included, allows service:
- 7:00 a.m. to 11:00 p.m., Sunday to Thursday
- 7:00 a.m. to 12:00 a.m. (midnight), Friday, Saturday, and holidays.

The location is further bolstered by the surrounding large base of existing dense residential housing in the neighborhood and large amount of new and under construction housing (247 units) at 904 La Brea and 700 N. Highland, Creative Office (108,000sf) plus the 91 room Hotel at 1040 La Brea, The Sycamore twin tower production space buildings, and the pair of office/medical buildings at 7007 Romaine, all of which are within walking distance of this opportunity. The restaurant also enjoys use of a private parking lot on-site however patrons prefer to use on-site valet @ cost of $8.00.
Detailed Information
Years in Operation
8
Facilities & Assets
This 2,484 sq. ft restaurant and Bar is located in the heart of Melrose Ave. just west of La Brea Ave. with its own additional 434sf private patio, a total of 90 seats are permitted per the CUB.

Other highlights and features included in the sale are:
* Fully Equipped Kitchen with Type 1 Hoods(2), One Hood is Rated For Open Flame, Walk-Ins(2), Custom designed Wood Burning Pizza Oven;
* Prep kitchen and dishwasher area, grease interceptor,Full extensive FF&E list can be provided; Office for dry storage & liquor closet.
About the Sale
Seller Motivation
Family and personal reasons
Listing Info
ID
2055368
Listing Views
2790
Attached DocumentsAttachment Disclaimer

Melrose_Summary_V3.pdf


Contact Seller

By clicking the button, you agree to BizQuest's Terms of Use and Privacy Notice.

Business Listed by: Linnard Lane High Touch Properties Inc.

Listing ID: 2055368 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.


Similar Listings
Ziggi's Coffee
$150,000Ziggi's CoffeeFeatured Franchise
Ramen Restaurant With Low Rent
$250,000Ramen Restaurant With Low RentLos Angeles, CA
Aroma Joe's
$250,000Aroma Joe'sFeatured Franchise
Capriotti's Sandwich Shop
$250,000Capriotti's Sandwich ShopFeatured Franchise
McAlister's Deli
$425,000McAlister's DeliFeatured Franchise
Ziggi's Coffee
$150,000Ziggi's CoffeeFeatured Franchise
Ramen Restaurant With Low Rent
$250,000Ramen Restaurant With Low RentLos Angeles, CA
Aroma Joe's
$250,000Aroma Joe'sFeatured Franchise