Description

This Miracle Mile area bar with live music, entertainment and dance permitted is priced for a timely sale. The venue has a coveted Type 48 Liquor License so no food service is required, although adjacent restaurants can readily provide it. The bar and entertainment venue has main street visibility as well as excellent access to Hollywood, West Hollywood, Beverly Hills, Koreatown and Downtown Los Angeles. While it already has convenient bus service nearby, it will boast stellar Metro access once the Purple line extension construction is completed.

This 10,000 square foot venue (approx.) leases for $16,000 per month base rent plus roughly $3,333 per month in triple net (NNN) expenses on a secure lease with new terms and option periods to be negotiated. The venue has onsite parking included in its lease. All of the business's furniture, fixtures, equipment, liquor license and entitlements / permits will be included in the sale. Approximately $10,000 in alcohol inventory will be sold at cost at close in addition to the sale price.

As there is a limited number of large venues permitted for live entertainment and disc jockey driven amplified music and dance, this opportunity does note face a great deal of competition in its immediate vicinity.

New management may wish to take this opportunity in any number of directions. They may want to maintain the operation with its current concept or they may prefer to implement a high-end or an otherwise themed nightclub concept, launch a live entertainment venue or any number of additional possibilities that it could thrive as.

Posted Nov 8, 2016

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