Real Estate plus Nightclub Bar Restaurant For Sale

Business description

Selling Restaurants is proud to present the huge potential piece of real estate and club. I would call this a diamond in the rough. The seller states 90% of the revenue is from Liquor sales (No Food Sale % Required). The facility includes a Dance Permit and an Annual Dance permit which is rare, but a valuable license which allows the owner to legally charge and keep the cover charge for entry into the nightclub. You can imagine the revenue for the owner from just cover charges. The facility also currently has a Type 47 liquor license and Entertainment Permit. The seller states that there is not another Type 47 liquor license within a 5 mile radius. The new owner must apply for a new entertainment permit, but all the hard work of city and police reviews have been done for the buyer. There's a Dj System With Speakers, Karaoke Stereo System With Speakers, Stage And Dance Floor With Entertainment And Dance Permit, Dining Area, Two Bar Stations With Beer Coolers, Refrigerators, Large Liquor Counters, and a Full Service Kitchen in the back. The owner has done very little with this full service facility. The facility itself is in great shape and has been well kept with all proper maintenance. The seller has stated that the facility falls within the redevelopment zoning area for the city which can potentially qualify the owner for up to $250,000 towards free renovations. The buyer should look into this more if interested. The facility could be renovated for a modern feel but locals love the atmosphere it provides. The Real Estate is comprised of two lots side-by-side. The facility resides on one and the private parking lot upon the other. A capitalization rate of 6% was used to value the Real Estate at $2,880,000 and add the equipment and the liquor license and this is a great price for a rare property. Possible Gross Monthly rents could be $14,200 for an investor. Seller is retiring. You have to visit this nightclub/restaurant and property today because this won't last.

Property information

Real Estate:

Real Property Included

Lease terms:

Open 6 days weekly Wednesday-Monday 5pm-2am 200 seats 23 parking type 47 7200 sq ft Possible Gross Monthly rent $14,400 based on 7,200 sq ft. Schedule of Events: Fridays: Karaoke Saturdays: Club Night (usually outside promoter).

Other information

Trading hours:

Open 6 days weekly Wednesday-Monday 5pm-2am

Contact the seller