Established And Profitable Lakewood Nightclub And Sports Bar For Sale

Business description

Location. Location. This nightclub and sports bar has been established for over 20 years in the same location close to Fort Lewis and McCord Air Force bases. It is a destination entertainment spot for many of the locals and the military. The Seller specializes in "EVENTS" and has a packed crowd every weekend. About 50% of the businesses revenues come from this entertainment "EVENTS". The Seller has a solid relationship with a large promoter and security team. The promoter provides the entertainment, the security company provides security, and the Seller provides the drinks and place to have the venue. The business occupies 4700 sq feet with an occupancy capacity of 191 customers. There is a huge dance floor, a DJ booth, and professional stage, and a professional sound system designed for both live music and DJ's with 24 channel capabilities. The business has a full Class H liquor license. There are pool tables (which the Seller owns), darts, lotto, scratch, vending machines, and video games. The Seller also owns the CO2 tanks. There is a full kitchen which the Seller leases out to the cook for $650 per month. The new owner could easily take the kitchen back over and make the profit from serving the food. The new owner could also add pull tabs, pool tournaments, and dart tournaments and increase the gaming revenues. The Seller is moving to Australia and is motivated to sell this business. This is a totally turn key operation - ready for the new owner to step into and start making his money. Seller will provide financing with 50% down, 3 year term, at 6% interest.

Property information

Real Estate:

Lease

Lease terms:

The base rent is $5,484 and CAM charges are $2,693 per month and the Lease expires on 10/31/2011 with a 5 year option to extend the term.

Leasehold rent:

$98,124 per annum

Location:

Location. Location. This nightclub and sports bar has been established for over 20 years in the same location close to Fort Lewis and McCord Air Force bases. It is a destination entertainment spot for many of the locals and the military.

Premises details:

Location. Location. This nightclub and sports bar has been established for over 20 years in the same location close to Fort Lewis and McCord Air Force bases. The business occupies 4700 sq feet with an occupancy capacity of 191 customers. There is a huge dance floor, a DJ booth, and professional stage, and a professional sound system designed for both live music and DJ's with 24 channel capabilities. There are pool tables (which the Seller owns), darts, lotto, scratch, vending machines, and video games. There is a full kitchen with hood and grill. The base rent is $5,484 and the Lease expires on 10/31/2011 with a 5 year option to extend the term.

Other information

Expansion potential:

This is a turn key operation and it runs like a machine for the owner and is very profitable. However, the new owner could add pull tabs, pool and dart tournaments to increase the gaming revenues. The new owner could certainly take the kitchen back and operate it themselves and make the profit from serving the food, an area the current Seller is not interested in.

Competition / Market:

The uniqueness of this nightclub and sports bar is the entertainment events that it features, both live and DJ, on the weekends and sometimes during the week. It has been in the same location for about 20 years and it has established loyal clients from both the local area and the military bases.

Support & training:

The Seller will provide two weeks of training on all aspects of the business as well as introductions to the promoter and the security company.

Reasons for selling:

The Seller is moving to Australia

Trading hours:

1PM to 2 AM (7 days a week)

Owner financing:

Owner financing is available. Please contact the seller for more information.

Financing available:

Cash, Bank Financing or Seller terms with 50% down, 3 year term, at 6% interest

Furniture / Fixtures value:

$125,000 (included in the asking price)

Inventory / Stock value:

$7,500