12,000 Sq Ft Real Estate with Operating Night Club & Loft Condo - $499,000 |  | The building was an old bank
Now transformed into a Night Club
Estimate 12,000 Square Feet
Night Clubs business in place
Real Estate For Sale
Night Club Tenant has 5 year lease with 5 year option for
$5200 per month for the first 5 years & $6200 per month for the next 5 years
As the owner of the Real Estate you will receive that income from the business.
That is $312,000 income for the first 5 years & $372,000 for the next 5 years. ($684,000 income for the next 10 years)
The price for 100% of the Real Estate & 50% of the business is $499,000 (which would mean in an estimate of 5 years the tenant will pay you back all your money you invested in this Real Estate transaction!)
Owner finance considered for the right person!
I am confident if I had it on the market for $699,000 I would sell it.
It would take a year but it would sell.
It is drastically reduced for a quick sale.
The Basement is used for offices and storage
The First & Second Level is used for the Night Club
The Third Level has 3 separate condos.
(The manager has one condo, but I may rent out the other 2 for $750 each, which would be $1500 more per month income) OR
you can live in the Loft condos above the club, and Manager can relocate (or you can Manage the club yourself if you choose)
The other 50% of the business is held by a silent partner
The Building is in a Downtown District with 6 other Night Clubs/ Bars on the same block.
Our club being the Biggest and nicest.
Reason for selling: I have way to many projects on my plate in Florida & California ETC and I am a bit over extended and need to free up come cash.
Address: 14 E 3rd Street Sterling, Illinois
www.RedLightDistrictIL.com
For info or showing contact Eric 713 855 8220 or Eric@RedLightDistrictIL.com
| | 1.4.2010 // // Sterling E-mail Website | #874 Food & Beverage. Business for sale classifieds.
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