Pub & Cocktail Lounge

Santa Barbara, CA (Santa Barbara County)

Pub & Cocktail Lounge
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Asking Price: $550,000

Cash Flow: N/A

Gross Revenue: $885,189

EBITDA: N/A

FF&E: $54,000

Inventory: $6,000

Rent: $4,700 per Month

Established: 2012

Pub & Cocktail Lounge

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Business Description

Profitable, turnkey opportunity for absentee owner with 7-day/week revenue!

Neighborhood bar and cocktail lounge. Profitable from first day of business.

Includes sought after Type 48 On-Sale General ABC license (no food requirement), a seasoned operations team, and strong goodwill from years of positive customer feedback.

Operated absentee. Favorable ABC conditions allow alcohol service until 2 AM.
Substantial renovations include a spacious outdoor patio, prep kitchen with outdoor pizza oven, two pool tables, shuffleboard, a live performance area with baby grande piano, and stylish comfortable seating throughout.

Constant seven-day a week revenue from bar and kitchen creates stable profitability. The owners have captured the casual cocktail culture, appealing to a wide demographic of industry patrons, neighborhood regulars and working professionals.

Long term lease with below market rates and private parking. Verified financials show absentee income over $90,000 annually.

Detailed Information

Location:
Santa Barbara, CA
Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
2,548
Lease Expiration:
3/31/2022
Employees:
2 FT/7 PT
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Substantial renovations include a spacious outdoor patio, pool tables, built-in stone pizza oven with outdoor oven exemption, shuffleboard, and stylish comfortable seating throughout.
Competition:
Long term lease with below-market rates and private parking. Verified financials show absentee income over $90,000 annually.
Reason for Selling:
Other opportunities
Business Website:
http://compassfirst.com/2018/02/neighborhood-bar-3/
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Matt Olufs

Business Listed By:
Matt Olufs

Compass First

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Ad#:1799025

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