Services - Motion Pictures | Retail - Miscellaneous Retail

Asking Price	$1,699,000	Inventory
Gross Income	Not Disclosed	Real Estate
Cash Flow	Not Disclosed	Year Established	1937
FF&E	N/A	Employees	2 ft, 4 pt

* included in the asking price

** not included in the asking price

Price Includes Real Estate, all Equipment and Profitable Business

The listed price is $200,000 below the appraised value and the profitable, growing business and equipment are virtually FREE. Located about 30 miles west of Hennepin County and 55 miles from the Mall of America in Hutchinson. Everything is new. Sales, cap rate and profits growing. Tax advantages due to TIF & depreciation. This is an Art Deco Gem that was built in 1937 and totally renovated for re-opening in 2005. The renovation was done with the highest quality material and workmanship. It is truly a thing of beauty and functionality. It looks like a treasure from the past with high-tech infrastructure. Almost $2,000,000 was invested on the renovation. The 3 auditriums seat over 625 people and the entire facility is 100% ADA compliant. All state of the art compoments and totally digital DTS sound. The primary presentation is 35mm film but 2 auditoriums are equipped with high-res digital projection for business meetings and other events. Eight apartments were razed and 4 luxury lofts were created. All have new appliances including their own washer and dryer. Three units have roof top decks, and 2 have views of Library square across the street. One retail space is occupied and the other is waiting for specifications for a potential tenant. Very significant tax advantages are provided by TIF refunds and depreciation expenses afforded by the amount invested in the renovation. The price includes all real estate, theater equipment and profitable business. An information packed 10 page PDFflyer is available for download Hutchinson offers smaller city living with the Twin Cities and the Mall of America just over an hour away.

Attachments: Download additional information (PDF)

Facilities: The property is 100% renovated and is in excellent condition. Square footage is 29,370 and the lot is 12,450. The building is 2 stories. The apartments vary in size from about 800 to 1200 sq ft. The building was built in 1937 and renovated for re-opening in 2005. All leases are annual. There is over 5,000 feet of neon and colored lights in, and outside the building. Original murals have been recreated in the Main auditorium. All HVAC, electrical, plumbing, roof, windows.... everything is new

Competition: One of 2 theaters in Hutchinson, the other is a 9 screen first run theater.The State is the only 2nd run theater in the county and both adjoining counties. The nearest second run is over 50 miles away In any economic conditions, but especially in the current economy, the "family friendly pricing" offered on admissions and concessions is well recieved. Per capita food sales are above average Marketing is done via a number of papers in McLeod and Meeker county. There is a very well done, and extremely active web site

Growth/Expansion: Business in terms of attendance and revenue continue to grow . The future looks equally as bright. Business can be expanded by introducing on-screen advertising, marketing business meetings and special events at a higher level and acively seeking a tenant for the vacant retail unit.

Support/Training: The owners are open to assisting the buyer in a transition, time to be negotieated. the owners will also consider employment by the buyer for a short period of time.

Reason Selling: Retirement