Business Summary:
Excellent opportunity to own a fully equipped 6,100 sq ft Bar/Restaurant facility with a separate, 2,700 sq ft three story apartment building which will generate additional rental income. Located in a prime location in popular summer resort town, the building was recently renovated with a martini bar, all new equipment, full kitchen, and a 225 seat lounge area with small stage. Currently operates as a Comedy Club but can easily be fitted for a Restaurant/Bar or GoGo Lounge at very little expense.
Price includes the property ($950,000 value), C liquor license ($250,000 value), and all the equipment ($150,000 value). Rental revenue for the main facility is estimated at $91,500 ($15/sq ft) and the apartment rental income estimated at $35,000 for a total income $126,500 before expenses. Real Estate Taxes are $25,000. After 50 years in business as a Comedy Club, the owner wants to retire to Florida. Seller financing for qualified buyers.
Property is value priced at $$1,250,000 with a down payment of only $5000,000 and the owner will finance the $499,000 balance over three years. Property is a must see to fully understand the potential and how easily it can be converted to a profitable concept.
For more details call Paul Holveck at Executive Business Brokers, 908-851-9040 x277.
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