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La Crescenta-Montrose, Los Angeles County, California
La Crescenta Bar with Property – Local Favorite with Parking!
Asking Price
$1,125,000
Revenue
$515,000
Down
$1,200,000
Cash Flow
$80,000
Business & Property Description
The bar and property, constructed in the 1930’s, is 2.3k square feet on a 2.6 square foot parcel that has onsite parking and an office on the second level. The real estate, as well as all of the business’s furniture, fixtures, equipment (with the exception of some game that are on a revenue split agreement), and Type 48 Liquor License are included in the sale. Though no food service is required, the building once had a kitchen with a hood that a new owner may seek to renovate. The bar does not have a beer tap system, but has extensive refrigeration.
This is the quintessential local dive bar and tavern whose patrons likely visit for its close proximity to their home or work, its music and entertainment offerings, its convivial vibe, and its unique level of comfort and friendliness. As a result of these attributes, and the bars storied history, this bar has a number of hard to replicate advantages over alternative entertainment choices.
As the bar has no known restrictions on the liquor license (other than perhaps no dancing permitted – which has not been confirmed), there are a number of avenues in by which new owners may potentially grow business. As the building used to have a kitchen, new management may rebuild one and implement food service; even without a kitchen they may offer patrons weekend outdoor barbeque, burgers, steaks and more, or potentially foods that do not require a hood to prepare. New owners can also promote the venue to a wider group of patrons by hosting events around sports, holidays, implementing karaoke nights, etc. They may also capitalize on the on-premise billboard signage, while converting the facility’s underutilized rooms (due to its unique layout) to revenue generating areas or alluring lounge areas.
Business Details
Year Established:
1936
Reason for sale:
Shift of focus to alternate venues
Support & Training:
Seller will train for 2 weeks at 20hrs per week or as negotiated
Property Information
Building Size (Total):
2,626 sqft
Posting Information
Posting ID:
6595791
Business Category:
Restaurants & Food
Business Types:
Bar, Pub, Sports Bar, Lounge, Tavern
American Restaurant
Attributes:
For Sale By Owner
License (Liquor, etc.)
Real Estate Included
Training And Support
Send NDA Request
Please complete the form below to request the NDA for this listing. The broker will review your request and send the NDA for you to sign.
Posting Title
La Crescenta Bar with Property – Local Favorite with Parking!
Posting ID
#6595791
Full Name (Required)
Email (Required)
Phone (Required)
NDA Signed Successfully!
Your NDA has been signed and submitted. The broker will review and countersign it. Once complete, you will receive access to confidential business details.
Agent, Broker or Seller Contact
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