Night Club Real Estate Income Monthly
Location Illinois,United States
Asking Price Range $500K - $1.0M
Gross Revenues $62400
Net Profit / Cash Flow $62400
Cash Flow Type Sellers Discretionary Cash
Seller Finance No
Year Established 2000
Number of Employees 10 - 19
Relocatable No
Number of Employees 10 - 19
Real Estate Owned
Reason for Sale Need to free up some money. Over extended!
Description The building was an old bank
Now transformed into a Night Club
Estimate 12,000 Square Feet
Night Clubs business in place
Real Estate For Sale
Night Club Tenant has 5 year lease with 5 year option for $5,200 per month for the first 5 years & $6200 per month for the next 5 years
That is $312,000 income for the first 5 years & $372,000 for the next 5 years. ($684,000 income for the next 10 years)
The price for the Real Estate is $549,000 (which would mean in an estimate of 7 years the tenant will pay you back all your money you invested in this Real Estate transaction!)
(No owner financing) At this price I am looking to cash out only.
I am confident if I had it on the market for $699,000 or $749,000 I would sell it.
It would take a year but it would sell.
It is drastically reduced for a quick sale.
The Basement is used for offices and storage
The First & Second Level is used for the Night Club
The Third Level has 3 separate condos.
(The manager has one condo, but I may rent out the other 2 for $750 each, which would be $1,500 more per month income)
The Building is in a Downtown District with 6 other Night Clubs/ Bars on the same block.
Our club being the Biggest and nicest.
The Night Club business is not for sale or included in this transaction. The Real Estate is the only thing for sale!
Reason for selling: I have way to many projects on my plate in NY, Vegas ETC and I am a bit over extended and need to free up come cash.
Address: 14 E 3rd Street Sterling, Illinois
Owners name and # Brian 702 468 8628
*** Part of the club business may be for sale as well, please contact for info.
Click Here To Contact Seller
For more opportunities like this go to:
|
|
NEWSLETTER
|
|
Sign up for Free Industry-Related News on Business and Franchise Opportunities
|
|
