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#3387
Los Angeles Restaurants For Sale

Profitable and in Prime Los Angeles Historic District

$75,000
Profitable and in Prime Los Angeles Historic District
This Listing is Expired

VOTED BEST OF LOS ANGELES MEDITERRANEAN RESTAURANT IN PRIME HISTORIC JEWELRY DISTRICT!!!

These opportunities don't come often and rarely last very long. Opening in 2001 and purchased by seller in 2006 with aspirations of franchising the concept.  Tremendous time and energy has been expended  in its development from front of the house experience and presentation  to continuing menu revision and enhancement to create their award winning offerings.  However, they have decided to curtail the expansion until economic conditions are more favorable and are continuing their jewelry import business in the meantime.

Sellers will provide extensive training to franchise standards and would like to use buyers unit as their future franchise success story and model store. The operation has been run almost exclusively by family members to develop the standards and will remain for a limited duration until replacement help is hired or new owners are trained to current standards---a perfect owner operator opportunity. Seller states that  beer and wine may also be possible.

The Downtown Historic district if expanding in both retail and housing with the jewelry mart area becoming the "Loft Mart" area.  Several restaurants have opened in this area to tremendous success due to the increase in housing density resulting in increased night time traffic.  Seller has chosen not to remain open at night but states that additional business is passing by their door each evening walking to theater or window shopping after a night at Staple center or LA Live, both are less than 1 mile away.

Seller says if you have the experience to operate and expand this location, he is willing to entertain reasonable offers and provide some owner assisted financing.

ELITE RESTAURANT BROKERS INC. ListingCall me regarding this "hidden gem" in the heart of the jewelry mart!!
Broker/Lawyer Laurent O'Shea

Lease

Region:
Los Angeles Restaurants For Sale
Lease Term:
Expires March 31, 2014 + 3 yr option
Total Monthly Rent:
$3,200
Security Deposit:
$9,600

Financials

Last Year's Annual Gross:
$290,000
Last Year's Owner's Cash Flow:
$36,000
EBITDA:
$36,000

Operations

# of Full-Time Employees:
4
# of Family Employees:
3
Hours Open:
Monday - Friday 0900-1700
Saturday 1000-01600
Year Established:
2001
Hood System Type 1:
Yes

Facilities

Indoor Seating:
40
Inside Sq. Ft.:
1,200

Highlights

  • PRIME HISTORIC BUILDING IN HEART OF JEWELRY DISTRICT
  • VOTED BEST OF LOS ANGELES FOR MEDITERRANEAN
  • HARD TO FIND LEASE WITH GRANDFATHER RIGHTS
  • LOYAL, REPEAT CUSTOMER BASE
  • CORPORATE ACCOUNTS
  • EXCELLENT EXPANSION MODEL
  • TURN KEY
  • POSSIBLE SELLER FINANCING TO QUALIFIED BUYER
  • INCREASING HOUSING DENSITY
  • LARGEST JEWELRY CENTER IN USA
  • SELLER SAYS BEER AND WINE POSSIBLE

Financing

Will SBA Finance:
No
Will Seller Lend To Buyer:
Yes
Seller Carryback of Purchase Price:
20%

Demographics

Population 1-mi. 3-mi. 5-mi
2014 Total Population 61,440 463,087 1,054,005
Households 1-mi. 3-mi. 5-mi
2010 Number Of Households 27,283 145,469 319,470
2010 Persons Per Household 2.03 2.99 3.14
Median House Value $385,037 $379,029 $411,465
Income Per Household $21,907 $29,817 $33,380
Businesses 1-mi. 3-mi. 5-mi
2009 Number Of Businesses 8,831 17,102 27,800
2012 Number Of Employees 270,562 550,794 868,694
2012 Total Annual Payroll $4,294,967,295 $4,294,967,295 $4,294,967,295

click for more demographic info

Disclaimer

DISCLAIMER: The User (that's you reading this) of this Website understands that Stone Path Brokerage Services, Inc. ("Broker") or its agent(s) do not audit or verify any above information given to or gathered by Broker or its agent(s) from Seller, our Client, or make any warranties or representations as to its accuracy or completeness of the information provided, nor in any way guarantee future business performance. The User should perform a complete and detailed due diligence on the business and or real estate before buying it in addition to seeking professional advice from an attorney as well as a CPA.  In some cases, forward looking statements may have been made but these statements are absolutely no guarantees of future performance of the business as each User has differing skills sets to either grow the business or kill the business.  Owning a business is a risky venture, but can also be a rewarding one.  The User of this website is solely responsible to examine and investigate the Business and or real estate (if included in the sale), its assets, liabilities, financial statements, tax returns, and any other facts which might influence the User's purchase decision or the price the User is willing to pay. In most cases, the Broker represents the Seller who is our principal, but the Broker owes the User a duty of fair and honest dealings.  Any decision by User to purchase the Business shall be based solely on User's own investigation and the User's legal, tax, and other advisors and not that of Broker or its agent(s). Any listing information may change at any time without any notice to User and User should often review the listing on the website to keep up to date.

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