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Downtown Toronto Bar With Rooftop Patio In Toronto For Sale

Toronto, Ontario, Canada
Asking Price:
$50,000 (CAD) Furniture / Fixtures included
Sales Revenue:
$500K - $1M (CAD)
Cash Flow:
$50K - $100K (CAD)

Licenced Bar, Venue, Rooftop Patio for 352 patrons in the centre of the Entertainment District. TURN-KEY!!! Amazing sound system, full back-line stage set up, fridges, ice machines, POS, lighting, walkie, glasswashers, TV's, draught....

Parades of people walking right past your doorstep on one of Toronto's busiest streets. Hoards of locals residing in the towering condo's at your disposal for the right operator/marketer/business person.
I am offering a gift as it time for me to retire.
Here's the break down to close:

1st + Last (2) Months Rent = 77k
Additional 50K security Deposit
Additional 50K equip/ chattels

Grand total start up 177K.

Your gain my loss as I've already relocated to a different city and decided on other business ventures closer to home.

The New operator will be well versed in Service, Promotion, Social Media, Entertainment, Events, Etc.
I used to be hands-on but have relinquished that role and therefore the business is not profitable at this time.
Please don't ask to see my books as they have nothing to do with the future of this business. It is time for your story to unfold, where your dreams of operation can manifest.

There will be many more inquiries now with this revised offer and I will not accept any low-balling...this is a gift and an incredible opportunity for the RIGHT operator.

There is also a Sub-tenant operating the 5th floor kitchen who pays 20% of the rent. They are awesome partners who bring in a lot of traffic into the building. They also negate any cost/concerns with food aspect within the building and service all of our customers their most excellent take on Japanese street food. No food headaches!!

We are only looking for experienced operators.
Licence is clean and building is up to date.
Rent is gross gross inclusive of TMI and HST $25K
All taxes are up to date with Revenue Canada.

We have turned away many offers due to lack of commitment.

This is a legendary location.

Also, please note that our other location in the building UNDERGROUND GARAGE, might be considered 'for sale' to the right operator for the right price.
It is very profitable. For both location I would consider a package price to be determined.

If interested please contact the seller, Rob, through the form on this page.

Property Information

Real Estate:

Lease

Lease Terms:

3 plus 3 months, years plus 5 year tenants option

Leasehold Rent:

240K per annum

Location:

Busy corner of King St. and Blue Jays Way.

Premises Details:

Space occupies 4th, 5th floors with a heated rooftop patio

Size in square feet:
5000sq2

Business Operation

Expansion Potential:

Possibility of partially enclosing rooftop for 4-season use

Competition / Market:

Already a busy address with legendary business located at the same address. Great overflow with joint interests.

Reasons for selling:

Nearing retirement. Live outside city

Trading hours:

Winter - 6 days per week
Summer - 7 days per week

Employees:
3-8 seasonal part time
Years established:
2.5 years

Other Information

Support & training:

Will provide hands - on training for 3 months during licence transfer

Furniture / Fixtures value:
$50,000 (CAD) - included in the asking price
Website:
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