Melrose Ave. Landmark Restaurant w/ Patio and Type 47 License

THIS IS AN ASSET SALE - KEY MONEY REQUIRED - CALL BROKER FOR PRICING & DETAILS
Formerly Spartina since 2014 now Cobras & Matadors, this beautiful and intimate restaurant is located on one of Melrose Ave’s. trendiest and hippest blocks continuing the spirit of bringing great food and entertainment to the Hollywood and media district crowd who live here. This is no ordinary spot either, its a part of LA culinary history with a lineage of famous chef / owners delivering memorable experiences. This restaurant, with its sleek, rustic, mid century dining room, expansive patio, bar, and open kitchen is well known as a perfect spot to drop in for a glass of wine or cocktail at your own “Social Club”, bring someone special for a date night, or enjoy the vibe with great food and friends. The restaurant was once doing close to $4M annually and ready to do it again with the right operator, its time to now make it your own….. .

The restaurant and bar lays out as follows:
Total Restaurant Size: 2,652 Sq. Ft.
Interior Dining Room Area: 1,434 Sq. Ft.
Outdoor Patio Area: 717+ sq. ft.

Features include:
* Fully Equipped Modern Chef’s Kitchen with Type 1 Hoods (2), 2nd Hood Rated For Open Flame, Wood Burning Grill, Large Walk-In, Wood Burning Oven, dishwasher area, grease interceptor, Full Bar (2) wells, Full FF&E list included.

*On one of the Trendiest blocks of Iconic Melrose Ave., featured on Bravo, LA Times, Conde Nast Traveller and more……

*Type 47 ABC License (Full Liquor) Included, allows service: 7:00 a.m. to 12:00 a.m. (midnight), 7 days a week.

The landlord will allow the assumption of the current lease extended to 10 years or write a new lease on the following basis:
Monthly Rent: $ 16,500.00/Mo.
Increases: 3% Annually
Real Estate Taxes: $ 1,000.00/Mo.
CAM: Self Managed
Insurance: Tenant $2M/occurrence, Landlord as additional insured
Security Deposit: $33,000.00 subject to financial review
Tenant Responsibility: Repairs for Roof, Plumbing, Electric, & FFE equipment

All utilities are separately metered and Tenant has its own panel on the rare Pole Sign.