Manhattan Style Gay & Lesbian Nightclub - 24958

Queens County, NY

Seller Financing Available
Manhattan Style Gay & Lesbian Nightclub  - 24958

Asking Price:$425,000

Cash Flow:$187,500

Gross Revenue:$625,000

EBITDA:N/A

FF&E:$200,000

Inventory:$10,000*

Established:N/A

*not included in asking price.

Manhattan Style Gay & Lesbian Nightclub - 24958

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Business Description

Beautifully renovated Manhattan Style Gay & Lesbian Nightclub. It is located just minutes from Manhattan (in Northern Queens) just walking distance from the Subway. Very high end finishes and NYC vibe. It must be seen to be appreciated. They are open 7 days M-W 6pm - 2am, Th & Fri. 6pm - 4am, Sat 10pm-4am, Sun 4pm - midnight. Sales are expected to be approx. $650,000.00 in 2014 with a net income of approx. $187,500. Sales are conservative projections based on the current weekly gross of $12K (during the slowest time of the year - Jan-Feb.) That is only expected to grow. The current owners recently renovated this location and operate it on an absentee basis. They offer two bars, dj booth, and state-of-the-art sound system throughout. It is 1,375 sq. ft. There are bathrooms, coat check and plenty of storage in the basement. There is street parking as well as valet service. The business has a 15 year lease with only 3% rent increases. It is a great location with a positive reputation. The current owner has been here for 10 years. There is no kitchen currently, but all of the gas and venting are present (there had been a kitchen here many years ago). This location is priced to sell and will not last. We are looking for serious buyers with some bar/nightclub experience and at least $350K in liquid capital.

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Detailed Information

Inventory:
Not included in asking price
Employees:
3/4
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Financing:
300,000.00 Down & $125K over 3 yrs. @ 6%
Support & Training:
Seller will train
Reason for Selling:
Personal

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