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#823
Los Angeles - Hollywood - DTLA

AAA Corner Restaurant Location & Stand Free Building in High Traffic Area!

$225,000
Sold
AAA  Corner Restaurant Location & Stand Free Building in High Traffic Area!
This Listing is Sold
This free standing Restaurant is located on the corner of a AAA location in a high traffic area off a main street in West Covina. This well established, over 40 years in business steak house serving beer & wine can be easily converted to a B.B.Q or similar concept. The restaurant lot is approx 40,000 square feet with plenty of parking. There is approx. 5400 square feet with 200 seats inside. The sellers current lease has two years remaining with a 7 year option currently below market rents at $6500 per month. Buyer to negotiate new lease with landlord. Current annual gross sales are at $750,000. This is a great opportunity to start a fresh new concept at a successful location. The seller does plan on retiring from the business. Take the next step and complete the online confidentiality agreement and you�ll be provided with the restaurant name and address. Also you will given priority notification to new listings in the future, prior to the general public, giving you the best chance to �scoop in� the best opportunities. There are also more photos available to our registered buyers.This is a a Paramount Restaurant Brokers, Inc. listing.
Restaurant Broker Stuart Schlosser DRE License #01809021

Lease

Region:
Los Angeles - Hollywood - DTLA
Lease Term:
2 yrs
Total Monthly Rent:
$6,500

Financials

Last Year's Annual Gross:
$750,625
Last Year's Owner's Cash Flow:
$75,926

Operations

Liquor License:
41
# of Full-Time Employees:
3
# of Part-Time Employees:
17
Hours Open:
11:00am-9:00pm
Monday-Sunday
Year Established:
1970
Hood System Type 1:
Yes

Facilities

Indoor Seating:
200
# of Parking Spots:
100
Inside Sq. Ft.:
5400

Highlights

  • Free standing Restaurant in High Traffic Area!
  • Triple A Corner location off main street.
  • Plenty of parking.
  • Approx. 5400 sq. ft.
  • 200 seats inside.
  • Lease has two years remaining with a 7 year option
  • Lease is only $6500 per month including CAM
  • Approx 40,000 square foot lot
  • Concept can stay or convert to similar more modern BBQ Place

Financing

Will SBA Finance:
No
Will Seller Lend To Buyer:
No
This Listing is Sold

Demographics

Population 1-mi. 3-mi. 5-mi
2014 Total Population 34,026 146,318 342,270
Households 1-mi. 3-mi. 5-mi
2010 Number Of Households 10,236 44,273 96,939
2010 Persons Per Household 3.15 3.19 3.49
Median House Value $438,000 $383,898 $390,161
Income Per Household $70,111 $68,650 $69,071
Businesses 1-mi. 3-mi. 5-mi
2009 Number Of Businesses 573 2,485 6,676
2012 Number Of Employees 14,282 64,866 176,996
2012 Total Annual Payroll $226,148,000 $1,063,795,000 $3,100,406,000

click for more demographic info

Disclaimer

Notice: The User (that's you reading this) of this Website understands that Paramount Restaurant Brokers, 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 some cases, foreward 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, 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. Any decision by User to purchase the Business shall be based solely on User's own investigation and that of 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.

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