2020 E Artesia Blvd - Bar FOR SALE


Long Beach, CA 90805
$1,195,000 USD
310-652-8353
2020 E Artesia Blvd, Long Beach, CA for Sale
$1,195,000 USD
Bar - FOR SALE
1/4
null | Request Cap Rate

2020 E Artesia Blvd
Long Beach, CA 90805


HIGHLIGHTS

  • Type 48 Liquor License (no food required / no kitchen)
  • Live entertainment, a spacious patio, and an offsite catering permit
  • Over $200k in recent improvements

OVERVIEW

This Long Beach bar with a Type 48 liquor license that does not require food service boasts live entertainment, a spacious patio, and an offsite catering permit. Over $200k in recent property improvements include a recently polished and buffed cement floor, a new HVAC system with custom stainless steel exposed ducting, a new custom bar built with a 12 tap system and stainless steel countertop, a new custom built walk-in, a new DJ booth, new electrical and plumbing, and new ADA compliant restrooms, high-end stainless steel fixtures. The facility boasts exposed wood beam ceilings, recent exterior and interior paint, a newly fenced patio, custom sound system with high-end lighting and sound system in the interior and on the patio and interior. This 1,200 square foot venue with an 1,800 square foot patio is on a 3,148 square foot lot. While this is a property-only sale and financials and business name will not be offered, the business’s assets, including its furniture, fixtures, equipment and related permits and Type 48 liquor license, catering permit, and other entitlements will be included in the sale. An estimated $5,000 in inventory will be sold at cost at close in addition to purchase price. This neighborhood bar is nestled in a residential and business area that does not place it in as highly competitive environment of many similar Long Beach venues. As such, it has a distinct competitive advantage when it comes to attracting local patrons. While this venue has been a neighborhood staple since the 1960s, new management can take this property sale in any direction they choose. The venue’s recent improvements and upgrades, flexible layout, and dance and entertainment entitlements make is an attractive opportunity for any number of variations on the current concept or new ones all together.

FOR SALE DETAILS

PRICE

$1,195,000 USD

PRICE/SF

$996 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bar

ADD'L SUBTYPES

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1965

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

C

APN/PARCEL ID

7119-001-012

ASK ABOUT THIS PROPERTY

Michael WildeveldThe Veld GroupMore Info
310-652-8353

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Michael WildeveldThe Veld GroupMore Info
310-652-8353

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.