This highly popular Hollywood Bar and Restaurant with liquor, a spacious outdoor patio and condition use permit entitlements for live entertainment boasts a prominent, high visibility and high foot traffic location that any number of alternate concepts may thrive in. Alternately, since the established theme-driven concept venue has already proven itself, new management may prefer to carry the torch forward prior to determining if they want to pivot the offering to better capitalize on the high concentration of local and tourist revelers that the venue guarantees exposure to.
This 1,428 square foot facility (including patio) leases for $9,573 per month on a new 3 year lease with one 3 year option. The venue is permitted to seat 60 patrons (20 on the patio) and may serve alcohol from 7:30 am to 2 am daily, but it can be open 24 hours. All of the venue's furniture, fixtures, equipment, goodwill and Type 47 Liquor License will be included and will transfer in the sale. Approximately $5,000 in liquor inventory will be sold at cost at close in addition to purchase price.
While no shortage of competition exists on the world famed Hollywood Boulevard corridor, the venue has managed to amass a loyal following comprised of locals and tourists due to its concept and the associated themed food and beverage offering which provides it a unique point of differentiation from much of the competition. Its unique location at the entrance of a passageway filled with a variety of complementary entertainment venues helps to put it at the center of the lane's activity.
New operators may continue with the existing concept that has proven successful, or capitalize on the spaces stellar location, patio, liquor, live entertainment and additional entitlements to launch any number of new food, drink and entertainment driven concepts that could thrive in such a high foot traffic and high visibility location.