This lounge is located in a fast growing downtown area with new multi-unit residential units and additional multi-unit residential construction underway as well as new retail and office development and a theater near by. This business started a couple of years and there is upside for expanded hours and days of operation as the lounge operates only part time 5 days a week . The space was totally remodeled with the following improvements: new floor, new bar top, banquette seating added, new air conditioners, new plumbing, and new audio equipment. There is a long bar, dance floor, DJ booth, storage area, office area and 2 ADA restrooms. Some of the equipment includes: POS system, 2- 3 compartment sinks, 2 ice bins, 9 taps, ice machine, walk-in refrigerator, 2 strobe lights, utility sink, 18 zone surveillance system, extensive audio equipment and 4 large screen TV's etc . The operation charges a cover charge three nights a week.

General Info

  • OrganizationCorporation
  • EstablishedContact For Info
  • Current OwnerContact For Info
  • EmployeesContact For Info
  • Reason For SaleOther Interests

Facilities

  • Seating127
  • Square Feet1,951
  • ParkingLarge parking lot + street parking
  • LicensesABC Type 48 License, Business
  • Open Hours4 / T: 4-Mid; Th, F, SA: 4p-2a; S: 6p-1a

Lease

  • Rent$4,553
  • Expiration4/31/22
  • Yearly IncreaseFixed increases
  • Option2 Five Year Options
  • DepositContact For Info

Financials

  • Monthly Revenue$70,166
  • Monthly Cash Flow$14,204
  • Annual Revenue$842,000
  • Annual Cash Flow$170,452
  • Payroll$Contact For Info

Financing

  • Down Payment$Contact For Info
  • Note Balance$Contact For Info
  • Terms of NoteContact For Info
  • All CashContact For Info

DISCLAIMER: The above financial information was supplied by the seller and has not been verified by broker. Broker makes no representation about the accuracy or completeness of the information and does not guarantee future performance. It is the responsibility of a prospective buyer to make their own inspection of all financial and other business records, and to seek independent financial and legal counsel regarding any purchase of this business and/or real estate.

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