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Established Old Town Pasadena Restaurant w/Beer & Wine

California, Pasadena
Asking Price $99,000.00
Gross Income $0.00
Cash Flow $0.00
EBITDA
Furniture, Fixtures & Equipment (FF&E)
Inventory
Real Estate
Year Established
Number of Employees
Type of Real Estate Offered
Business Type
  • RESTAURANTS

  • Brew Pub
Overview
This well-established Old Town Pasadena restaurant has operated out of its coveted highly visible street front location (though not on Colorado) for over 30 years. It is being offered for sale to the operator who seeks to take over the existing ethnic concept, or who aspired to implement a new concept in a relatively turnkey restaurant venue that has a full kitchen, beer and wine license and plenty of patron seating in a facility that was completely renovated in 2009 with a boosted ceiling, new hood, updated grease trap and walk-in cooler. The business has valet available through an adjacent neighboring restaurant, and has a reduced rate parking agreement in place with a local lot for 50% off the regular rate for $1,000 per month. The current concept generates 60% of its weekly revenues during its lunch hour (the inverse on weekends), as it has positioned its offering to attract the daytime business crowd, however, it can just as easily be rebranded to focus on evening and nighttime business.
Business Details
Location and Facilities: This highly versatile 2,700 square foot facility leases for $7,000 per month on a lease until 2018, with one additional five-year option. All of the business s furniture, fixtures, equipment are fully owned and will transfer in the sale as well as the Type 41 Beer & Wine license. The restaurant portion of the business seats 85 patrons.

Support/Training: 2 wks at 20 hrs/wk

Market Information and Position: Any buyer will seek to capitalize on this opportunity by implementing the concept of their choice that should capitalize on the facility s stellar street frontage, versatile build-out and beer and wine license, or by heavily advertising the current business while modifying the operation to promote delivery service (which used to account for 20% of their business, but that they have not engaged in for 3 years). Competition: As Old Town Pasadena is a bustling restaurant and entertainment area, competition on several levels (both direct and indirect) naturally exist. This venue, however, is being sold at a fraction of what it would cost to build-out anything comparable making this recently renovated venue ideal for many!

Reasons for Selling: Retirement

Financing:

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