Bars, Pubs & Taverns, Miscellaneous Restaurant & Bars, Other Restaurants & Food, Mediterranean Restaurants
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Turnkey Restaurant, Bar & Hookah Lounge — Below-Market Rent
Phoenix, Arizona, United States
Asking Price$170,000
Revenue-
EBITDA-
Cash Flow-
Description
Here's a draft — roughly 2,900 characters, so it fits with room to spare:
Turnkey Restaurant, Bar & Hookah Lounge — Below-Market Rent
Here is a rare opportunity to take over a fully built-out, approximately 3,000 square-foot restaurant, bar, and hookah lounge in a high-traffic North Phoenix retail corridor. This is a turnkey asset sale: everything needed to operate is in place, permitted, and working. Walk in and run your concept from day one — no build-out costs, no construction timeline, no permitting risk.
The space was extensively built out for full-service dining and entertainment. The commercial kitchen includes a hood and fire-suppression system, fryer, flat grill, char broiler, gyro machines, refrigeration, freezer, and prep line. The front of house seats 120+ with 34 tables, a full bar with coolers, ice machines, and glassware, a performance stage with sound, video, and lighting systems, and an established hookah program with 40 hookahs and full accessories. Outside, an equipped patio features a wood grill, fireplace, and heaters — ideal for Arizona evenings. A comparable build-out from shell condition would typically cost several times the asking price.
The lease is a standout: approximately $15 per square foot per year in a corridor where comparable space asks considerably more. That below-market rent gives an incoming operator a real, recurring cost advantage worth thousands per year and makes this location viable across a wide range of concepts — keep the current Mediterranean dining and lounge format, or bring your own vision to a space already suited for dining, nightlife, private events, and live entertainment.
The business currently operates only four days per week under an owner with other commitments, leaving obvious upside for a full-time operator: expanded hours, a seven-day schedule, event bookings, catering, and marketing are all untapped. Alcohol is served under an Arizona Series 12 restaurant license classification (buyer to obtain its own license; interim permits are available for continuity at closing). The current ownership acquired the business through a clean, escrow-closed transaction with clear title to all conveyed assets.
This is priced and sold as an asset sale — the value is in the complete physical package, the lease, and the location, not in the limited operating history of a young business. Serious inquiries only. A signed NDA and proof of funds are required before the location, financial detail, lease terms, or equipment list are released. All information is provided by the seller; buyers must verify all facts, figures, lease terms, and licensing requirements during due diligence.
Real Estate
Rent is $3,781 per month
Building Size: 3000 sq. ft.Furniture Fixtures & Equipment
$65k
Inventory
Included in Asking Price
Year Established
2025
Reason Selling
The owner has other business and personal commitments and cannot give the venue the full-time, hands-on attention it needs to reach its potential. The seller is motivated to place the business with a dedicated operator.
Facilities & Assets
Approximately 3,000 SF of fully built-out, second-generation restaurant space in a high-traffic North Phoenix retail center, leased at approximately $15/SF/yr — well below market. Commercial kitchen with hood and fire suppression, fryer, flat grill, char broiler, gyro machines, stove, steamer, refrigeration, freezer, and full prep line. Front of house seats 120+ with 34 tables, full bar (coolers, ice machines, soda machine, glassware), performance stage with sound, video, and lighting, and an established hookah program with 40 hookahs plus accessories. Equipped patio with wood grill, fireplace, and outdoor heaters. POS system with handheld tablets, printers, and security cameras included. All FF&E conveys per inventory list; certain landlord-owned fixtures (hood, grease trap, sinks) remain with the premises for the buyer's use. A comparable build-out from shell condition would cost several times the asking price.
Market & Competition
The venue sits in a dense North Phoenix retail corridor with strong daily traffic counts, surrounded by established residential neighborhoods and major cross-streets. The immediate trade area supports a deep mix of casual dining, but very few venues combine full-service dining with late-evening entertainment, and dedicated hookah lounges remain scarce in this part of the Valley — most competition is concentrated in other areas of metro Phoenix. That leaves this location with an unusually defensible niche: guests seeking Mediterranean dining, hookah, and live entertainment in one venue have limited nearby alternatives. The below-market lease also gives an operator a structural cost advantage over any competitor opening nearby at today's rents, which have risen well above this location's rate.
Growth Opportunities
The clearest opportunity is simple: the venue currently operates only four days per week (Thursday–Sunday). A full-time operator can expand to six or seven days immediately using the existing staff model, equipment, and permits — no additional investment required. Beyond expanded hours, the stage, sound system, and 120+ seat capacity make the space a natural fit for private events, birthday parties, watch parties, and live music, none of which are being actively marketed today. Additional untapped levers include lunch service, catering, delivery platforms (the kitchen and packaging setup support it), a hookah loyalty or VIP program, weekday happy-hour programming for the surrounding office and retail traffic, and basic social-media marketing, which has been minimal to date. The patio with wood grill, fireplace, and heaters extends usable capacity most of the year and is ideal for hosted events in Arizona's evening-dining season.
Financing Options
Asset sale. Buyer to secure own funds; proof of funds required.
Asking Price$170,000
Learn MoreAfter inquiring the broker will reach out to you to discuss the next steps.