The Arsenal bar and restaurant, at 12012 W. Pico Blvd, has been listed for sale. The 2,900-square-foot space is available “immediately” and owners are asking $349,000 in “key money” for a prospective buyer to take over the second-generation restaurant. Reps for The Arsenal on Tuesday did not immediately respond to a request for comment by What Now Los Angeles but a call to the restaurant leads to an answering service. “We’re closed,” the recording states directing callers to send an email.
Rent for The Arsenal space is $11,618 per month excluding NNN, or triple-net, which is estimated to be an additional $1,000 monthly. NNN is a real estate term outlining the tenant’s promises to pay all the expenses of the property (think real estate taxes, building insurance, maintenance, etc.).
“Pre-COVID,” The Arsenal had clocked in annual sales of approximately $1,300,000, according to the listing. The current lease period runs until December 2024 and has a five-year renewal option. Parking in the rear can accommodate 15 cars.
It’s now sold to new owners who will be keeping the red room and expanding g it.