Melrose Ave./la Brea Area Turnkey Restaurant For Sale

Description

Asset Sale Description Reimagined Melrose Bistro This 2,484 sq. ft. restaurant and bar is located in the heart of Melrose Avenue, just west of La Brea Avenue. The property includes an additional 434 sq. ft. private patio, bringing total permitted seating to 90 seats per the CUB. A Type 47 ABC License is included in the sale, allowing for a full bar program with craft cocktails as well as a curated selection of natural and biodynamic wines. The restaurant is situated in one of Los Angeles’ most in-demand dining corridors, attracting clientele from West Hollywood, Hancock Park, and the LA Media District. The concept has been operating successfully since opening and benefits from strong neighborhood demand. Lease details: Current lease term expires 10/31/2028 with two 5-year extension options available at 3 percent annual increases. Current monthly base rent is $8,343.47 plus $1,885.00 in NNN charges, with rent increasing 3 percent annually. Included in the sale: Fully equipped kitchen with two Type 1 hoods, including one rated for open flame Two walk-in refrigeration units Custom-designed wood-fired pizza oven Prep kitchen and dishwasher area Grease interceptor system Comprehensive FF&E list available upon request Location highlights: Situated on a highly trafficked and trendy stretch of Melrose Avenue, surrounded by established hospitality and retail brands including The Benjamin, Carmel, Roots, Frankies, Melrose Umbrella Co., Marathon Burger, Milk, The Groundlings Theatre, Mozza, Chi Spacca, Adidas, Palihouse Hotel, Blu Jam Café, and LA Eyeworks. The area has been featured in Bravo, the Los Angeles Times, Condé Nast Traveller, and other major media outlets. The Type 47 ABC License includes full liquor service with two wells and permits the following operating hours: 7:00 a.m. to 11:00 p.m. Sunday through Thursday 7:00 a.m. to 12:00 a.m. Friday, Saturday, and holidays The location is further supported by a dense residential base and significant ongoing development in the surrounding area, including new housing, creative office space, and hospitality projects within walking distance. Nearby developments include 247 residential units at 904 La Brea and 700 N. Highland, 108,000 sq. ft. of creative office space, a 91-room hotel at 1040 La Brea, Sycamore production buildings, and office and medical buildings at 7007 Romaine. The restaurant includes access to an on-site private parking lot, with additional valet service available at $8.00 per vehicle, which is preferred by many patrons.