Party and Event Center Business and R.E. in N.E. Cleveland Suburb

Listing Details

Total Sales: $425,000

(Included in Price)

Inventory: $5,000

Real Estate: $650,000

Terms and Conditions?:

Business to be paid in Cash preferably.
Real Estate to be paid in cash or Lease with an option to buy is available as well.

Reason For Sale:

Owner's retirement.

Training & Support:

Seller will support as per agreement with the Buyer.

Operation

Year Established: 1991

Days & Hours of Operation: Normal Personal Service Retail Business and adjusted for special events.

Owner Hours Per Week: Vary depending of workload and availability of help.

Location

Security on Lease: To be discussed in due time.

Lease Option: Customary 5-year options.

Monthly Rent: 6,500

Type of Location: High Traffic and is becoming attractive due to new development activities in the area.

Square Footage: 13,500

Facilities Information:

Well maintained with several extra projects for the improvement of the facilities have made this business and its property attractive.

Summary

Historical Summary:

Business Description

Well Established Party and Event Center Business and Real Estate in North Eastern Suburb of Cleveland Available for Sale by Retiring Owner-Operator.
Capacity: 390 Seats (Two Halls separated by moving partitions); 180 Parking Spaces.
Occupies about 13,500 sq. ft.. The building and it’s 2 acres of parking space is available for lease or sale as is outlined below.
ELEMENTS OF VALUE: Long Standing name and customer base. There is some significant development activity taking place around the area.
The Business was established in the early nineties and is generating about $425,000 revenues after having survived the 2008/2009 recession.
ASKING PRICES & LEASING RATES:
BUSINESS: $225,000 plus inventory at closing.
REAL ESTATE: $650,000 for the 14,100 sq. ft. building and it’s 2.2 Acres of Land.
LEASE RATE FOR BUSINESS BUYER WITH AN OPTION TO BUY R.E.:
$6,500 per month (real estate taxes included) plus common area charges and equipment maintenance expenses.
NOTES:
INTERESTED PARTIES NEED TO SUBMIT CONFIDENTIALITY AGREEMENT AND BUYER PROFILE.
DISCLAIMER: Enterprise Development Resources, Inc.(EDR) makes no warranty or representation in connection with the information provided herein. Interested parties are required to conduct their own due diligence.
For More Information please contact: Elias E. Ladon, Certified Business Broker & Appraiser, Enterprise D. R. Inc. Any securities transaction will be via a Broker/Dealer.

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