Four Bars And Real Estate
Location Michigan,United States
Asking Price Range $2.5M - $5.0M
Gross Revenues $0
Net Profit / Cash Flow $0
Cash Flow Type Sellers Discretionary Cash
Seller Finance No
Year Established 1992
Number of Employees 10 - 19
Relocatable No
Number of Employees 10 - 19
Real Estate Owned
Training Yes.
Reason for Sale Retirement.
Description LOCATION: On South First Avenue one block south of Huron between Liberty and Washington in Downtown Ann Arbor. BUILDING: Adjacent two and three story buildings with a full finished basement that has a grade level entry and C/O for public occupancy. Total of 21,600 sf. In the last 10 years the building has been renovated with new mechanicals, fire suppression, elevator, 12 restrooms, 4 bars / nightclubs, super apartment, outstanding penthouse residence on the 3rd floor, and a rooftop deck with tiki bar, hot tub, and sauna. HGTV has done a film segment on this property! The ceiling height of the third floor residence is high enough to allow a mezzanine around the perimeter of the floor creating around 4,000 sf of living space. All custom built, lots of brick and oak. LOT: The lot is 105' x 220', and backs up to the rail line going through town. Their is room to park 5-6 cars on the south side of the building, which doubles as the access point for the grade level entrance to the lower level Cavern Club.
BUSINESS: The owner presently runs 4 bars / nightclubs in the building: Cavern Club in the lower level, Gotham City and Millennium on the first floor, and Circus on the second floor. On the balance of the second floor is an office in the owner's antique collection, and a real nice one bedroom apartment with fireplace. PRICE: The sale price of $3,200,000 includes the building and the business, liquor license, and FFE of the 4 bars. Email or call Willem van Reesema, 248-730-0998 (cell) for more information on these Bars / Nightclubs for sale.
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