Description of the business for sale
Seller is motivated to get the business sold, just lowered the price $50,000. One of the Northern suburbs premier Rock n Roll hotspots this bar has been a successful nightclub for over 15 years featuring National and Regional entertainment. Newly remodeled and downsized from its original 12,000 sq ft concert hall, owner has spent over $100,000 modernizing, everything from walk-in coolers to sophisticated security cameras and computers. Full kitchen and stage with sound and lights.
GROWTH: The restaurant currently specializes in bar food, however, the kitchen is fully equipped and a more complete menu featuring Prime Rib specials and such could be added for more income revenue. Their Conveyer Pizza Oven gives new owners the opportunity to add Pizza delivery to the area. Live music, Bar bingo, Meat raffles, Texas hold-em and pulltabs are very popular and bring in steady crowds. ATM machine averages $1,000.00 per month. Games average $2,400.00 per month Pull Tabs at $1,750 per month
COMPETITION: Columbia Heights is seeing a housing development boom. Over the next 2 years 2500 new condos and town homes are being built within a few miles of this establishment which already has a very loyal crowd and this will bring in lots of new ones. It is a very popular spot for the younger crowd that like to have fun and a good time when they go out. This bar has the capacity to do $1,000,000 in gross sales per year
ADDITIONAL FINANCIAL INFORMATION:
• Financing: Reduced $50K, Cash, make offer.
• Inventory: $10,000.
• FF&E: $250,000.
REASONS FOR SELLING: other business opportunity.
EMPLOYEES: Full-time / Part-time: 3 full-time / 8 part-time.
Support / Training provided by seller
20 days for new owner.
Description of the facilities
6,700 sq ft, Lease: $8,200/mo plus CAM