Neighborhood Bar

File# C2447
Location: Down River
Business Price: $100,000
Down Payment: $35,000
Monthly Payment:$465.68
Interest Rate: 6%
Amortization Period:20 year amort./balloon in 5 years
Gross Sales: $3,000 per week
Source: Seller
Cash Flow: TBD
Source:
Inventory: $3,000 +/-
Days Open: Monday-Saturday
Business Hours: 11am-2am
Seats: 75
Parking: ample
Licences Required:Class C w/Sunday Sales and Dance/Entertainment Permit, SDM
Year Established:1940
Year Acquired: 2000
Building Price:$200,000
Building Terms:$65,000 down, $967.18 payment per month, L/C 20 year amort. 5 year balloon

Profile:

This neighborhood bar and building has existed since 1940 and has been operated by the current owner since 2000. The bar seats approximately 75 people. There is a small but functional grill, fryer and hood system. Also, there is some other equipment sold in as is condition. The bar has been operated on a semi-absentee basis. It is prime to be remodeled and a new theme created.
In addition to the bar business, the building is has two apartments above, a small building currently rented on a month-to-month basis to pay day advance business and a fenced, vacant lot adjacent to the north that would make an excellent patio.
The pool table, poker machines and other video games belong to a vendor. The bar receives 70% of the revenue and the vendor received 30%. The bar and building are for sale together for $300,000 with $100,000 down with seller financing on the balance.

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This information has been supplied to Broker, Capital Business Brokerage, Inc. by Seller or obtained from other sources. Broker has not and will not verify the accuracy of this information. It is recommended that Purchaser independently verify the accuracy of this information with Purchaser's counsel.