Quaint Beverly Hills Area Restaurant w/Sidewalk Seating!

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Asking Price:
$649,000

Gross Revenue:
$1,154,274
Cash Flow:
$257,108
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$75,000
not included in asking price

FF&E:
 Not Disclosed
included in asking price

Real Estate:
 Not Disclosed

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Business Description

This celebrated Beverly Hills area restaurant with beer, wine and sidewalk seating has established a strong reputation for its award winning European cuisine. The venue boasts fantastic street visibility in a highly popular shopping district and employment center (not in the Golden Triangle area) and has a coveted lease at what’s deemed to be well below market rate (< $4 psf). The facility has a full kitchen with a convection oven, a 6 burner stove/oven combination, a table top stove, grill, griddle and deep fryer. It has a 3 bucket sink and dishwashing unit as well as a large walk-in cooler.

This is an SBA Candidate and there is already a $250k assumable SBA in place that may be assumable based on buyer qualifications

About the Business

Year Established:
1988
Number of Employees:
11
Facilities:
This restaurant leases for $4,700 per month plus $470 in triple net (NNN) expenses on a tremendous lease that does not expire until December 2021 with three 5 year options. All of the business's furniture, fixtures, equipment and Type 41 Beer & Wine License will be included in the sale. Approximately $75,000 in wine inventory will be sold at cost at close in addition to purchase price.
Market Outlook/
Competition:
While competition exists, this is a well-established and quite well known venue. As such, it has created a name for itself and developed a loyal following that includes some of Hollywood’s best known personalities that would be impossible for an industry entrant to replicate.
Growth & Expansion:
While new management may wish to promote the venue, they will likely want to operate the restaurant in the traditional way that has proven to be successful over time! They may also wish to further capitalize on the premise’s extensive 350 label wine list.
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About the Sale

Reason For Selling:
Retirement
Training/Support:
2 Weeks at 20 hrs/wk

Listing Info

ID:
1389608
Ad Detail Views:
314

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