Beverly Hills Restaurant & Lounge w/Liquor, Parking & Patio!

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Restaurant & Lounge w/Liquor, Parking & Patio – Long Term Lease!
Asking Price:
$499,000

Gross Revenue:
$3,000,000
Cash Flow:
 Not Disclosed
EBITDA:
 Not Disclosed
Inventory:
$10,000
not included in asking price

FF&E:
$100,000
included in asking price

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Business Description

This Beverly Hills restaurant and lounge boasts a full bar and open air lounge with liquor, an indoor / outdoor patio, parking, entertainment and an attractive long term lease. The venue is in one of the most coveted and post prestigious Golden Triangle locations available. It is reported that $5 million was invested in its truly spectacular build-out.

About the Business

Year Established:
2014
Number of Employees:
45pt
Real Estate:
Leased
Building Sq. Ft.:
5,587
Lease Rate/Sq. Ft./Mo.:
$6.56
Facilities:
This prominent 5,587 square foot location will lease for $27,655 per month plus $9,000 in monthly triple net (NNN) expenses on a new 18 year lease. There will also be a 6.0% of gross over a natural $461,000/month breakpoint, which equates to approx. $5.53 million per annum. The current tenant has a parking arrangement for 59 in lieu parking spaces for an additional $86k per annum with the City of Beverly Hills, though this is subject to change. The venue has an approx. 244 patron occupancy, with the ability to host private events in a semi-private dining room. $10,000 in wine and liquor inventory will be sold at cost at close.
Market Outlook/
Competition:
Beverly Hill’s Golden Triangle is renowned worldwide for its world-class shopping, hospitality and dining options. As such, strong competition exists for all varieties of dining and entertainment options. With that said, this venue’s distinguished location amongst the best of the best will allow the restaurateur, chef or their brand to operate a flagship-style location in one the world’s most celebrated dining corridors.
Growth & Expansion:
New management can capitalize on this versatile build-out to implement any number of dining and entertainment driven concepts. The venue may be a signature location for a new concept or one of an existing restaurant chain’s crown jewels.
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Listing Info

ID:
1550892
Ad Detail Views:
526

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