If you’re looking to get into the historic dive bar business, $4 million should do it. That’s the asking price for the El Mocambo, which went up for sale yet again last week. The fact that it’s for sale isn’t all that surprising; the place has changed hands a lot over the decades. The place seems to have more lives than a True Blood vampire.
Over the years, the Rolling Stones, U2, the Ramones, Queens of the Stone Age and countless others have played here. And after several months of renovation last year–which included the construction of a roof-top patio–it looked like the Elmo would be with us for years to come.
However, the current owners have decided to get out. And for aficionados of joints like the Elmo, there’s a disturbing line in the real estate listing that speaks of “redevelopment potential.”