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Listed by Michael Luu • Michael Luu, Broker
$ 1,297,000
Est. payment /mo
Price Dropped by $363K
Monterey Park, CA 91754
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR-26008750
Year Built 1952
Property Sub-Type Retail
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Prime standalone commercial property located in Monterey Park, south of Garvey Ave, north of the 60 Freeway, and east of Atlantic Blvd. The property features approximately 2,171 square feet of building area situated on an 8,186 square foot lot, offering both front and rear access and excellent street visibility.
Built in 1952, the property is home to a long-established restaurant and bar operation that has been continuously serving the community since 1955, known as The Venice Room. The business is well known for its unique “grill-your-own steak” dining experience, a rare concept with no comparable offering in the surrounding area. The operation holds a Type 48 liquor license and benefits from strong revenue performance and a loyal, multi-generational customer base.
This is a rare opportunity to acquire both a landmark operating business and the underlying real estate in a highly desirable infill location with strong traffic exposure and proximity to major transportation corridors.
Sale of the real property is required to close concurrently with the sale of the operating business under a separate agreement. Buyer to cooperate with coordinated escrow.
Information deemed reliable but not guaranteed. Buyer to verify all details.
Built in 1952, the property is home to a long-established restaurant and bar operation that has been continuously serving the community since 1955, known as The Venice Room. The business is well known for its unique “grill-your-own steak” dining experience, a rare concept with no comparable offering in the surrounding area. The operation holds a Type 48 liquor license and benefits from strong revenue performance and a loyal, multi-generational customer base.
This is a rare opportunity to acquire both a landmark operating business and the underlying real estate in a highly desirable infill location with strong traffic exposure and proximity to major transportation corridors.
Sale of the real property is required to close concurrently with the sale of the operating business under a separate agreement. Buyer to cooperate with coordinated escrow.
Information deemed reliable but not guaranteed. Buyer to verify all details.
Location
State CA
County Los Angeles
Area 641 - Monterey Park
Interior
Inclusions All items considered real property and permanently affixed to the building.
Laundry None
Building
Lot Description Level with Street, Lot 6500-9999