720 N. Lake Ave, Pasadena, California 91104

$500,000

Property Type

Business Opportunity

City

Pasadena

Status

Active

Turnkey, fully equipped Mediterranean restaurant opportunity in Pasadena. The restaurant features a spacious dining area, service counter, indoor seating, sidewalk patio seating and a complete commercial kitchen. The warm, rustic interior includes wood-paneled walls, barrel accents, decorative lighting and tile flooring, creating a comfortable and inviting atmosphere. The existing furniture, fixtures and equipment (FF&E) include a large Type 1 commercial exhaust hood, multi-burner gas range with flat-top griddle and double ovens, commercial kebab/charbroiler station, vertical & shawarma/gyro broiler, deep fryers, meat grinder, specialty food-preparation equipment, refrigerated preparation station, commercial refrigerators freezers, upright glass-door freezer, under-counter glass-door beverage coolers, countertop ice maker, service/display counter, commercial sinks, stainless-steel worktables and shelving, storage racks, cookware, preparation containers, plates, serving pieces, utensils, POS/register systems, dining tables and chairs, outdoor patio furniture, wall-mounted television, menu boards, fans, lighting fixtures and restaurant décor. Open seven7 days a week and has been operated by the current owner for approximately 6 years. It has 2 full-time and 3 part-time employees. Current rent is $6,700/m, and the existing lease reportedly expires April 10, 2034 w option to lease). Lease terms and assignment are subject to landlord approval and buyer verification. Utilities and insurance are not included in the rent amount. An existing beer-and-wine license is included in the sale, subject to ABC approval and transfer. The premises also reportedly have a Conditional Use Permit offering potential for full-liquor licensing. Buyer must independently verify the CUP, permitted uses and all licensing requirements with the appropriate governmental agencies. The property may also offer potential for private events and a rear hookah-lounge concept, subject to landlord consent and all required city, health, fire, tobacco and other governmental approvals. Current food, beverage and supply inventory are all included, subject to a physical count and written agreement at closing. All FF&E, inventory, permits, licenses, lease terms, permitted uses and equipment condition are subject to buyer investigation and verification. Please do not disturb employees or contact the business directly. Contact the listing agent for pricing, financial information and private showings.