18 year established Italian Restaurant

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Restaurant/Bar
Asking Price:
$749,950

Gross Revenue:
 Not Disclosed
Cash Flow:
 Not Disclosed
EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed
included in asking price

FF&E:
$400,000
included in asking price

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Business Description

This Italian Cuisine was established in 2000. It is a beautiful family owned, Italian Restaurant/Bar that was completely remodeled in 2017 to perfection! The owner was planning for years to make sure he covered every single angle and boy did he! With an established Beer, Wine, and Tobacco license, the possibilities are endless! Operates as a Restaurant during the day, while earning great revenue, and convert to a Hookah Lounge/Bar until 2 a.m. closing to get even more revenue! Plenty of parking available to support big group events! Some key features of the place include: 12 foot ceilings, 2 Bars, 4 Bathrooms, 14 TV’s, 24 cameras, sliding open windows, 2 separate sound systems, double door entrance, 2 offices, several freezers, 4 pizza ovens, hood, grill, several sinks, a lot of storage and much more! It is a corner unit with great street visibility and within a mile from Burbank. Landlord is updating the entire shopping center, and once complete, the place will have a beautiful outdoor NEW sign and lighting!

About the Business

Year Established:
2000
Number of Employees:
16
Real Estate:
Leased
Building Sq. Ft.:
5,000
Lease Rate/Sq. Ft./Mo.:
$1.57
Lease Expiration:
1/2/2023
Facilities:
Business was completely remodeled in 2017 to perfection. Close to $400,000 in improvements.
Website:
www.johnhartrealestate.com/casanuova
Market Outlook/
Competition:
Business is in a Prime Sun Valley location on Glenaoks Blvd, within a mile from Burbank. Corner unit and great exposure.
Growth & Expansion:
Business is profitable, no competition in the area. Has full time loyal clientele. Property has 3 addresses which can support 3 different corporation. Has the potential to convert to a Hookah Lounge after hours. So many possibilities.
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About the Sale

Reason For Selling:
Seller retiring & moving out of the country
Training/Support:
30 days

Listing Info

ID:
1570347
Ad Detail Views:
82

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Business Listed by

Michael Melik-Bakchian

JohnHart Real Estate
License# 01914624

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