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Davis County Reception Center

Davis County, UT

Seller Financing Available
Davis County Reception Center
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Asking Price: $410,000

Cash Flow: $241,940

Gross Revenue: $580,420

EBITDA: N/A

FF&E: $209,000

Inventory: $4,000

Real Estate: $2,390,000*

Established: 1974

*not included in asking price.

Davis County Reception Center

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Business Description

This beautiful facility providing all the essentials for indoor and outdoor events -- wedding receptions, luncheons, anniversaries, birthdays, etc.

The 7000 square foot center has a capacity of 600 guests. It is ADA compliant and is complete with bride’s room, groom’s room, family room, dining room, ballroom, parlor, greeting and sitting rooms plus beautifully landscaped outdoor areas and plenty of parking.

They offer a variety of event packages and they provide in-house catering from a fully equipped kitchen. Current deposits total approximately $31,000 and will fluctuate. Seller will retain a portion for acquiring the bookings and transfer the balance to buyer. The amount will be determined at time of sale.

The number of employees is determined by the season and is currently at 28 part time. The employees serve as hosts, caterers, servers, facility care, etc.

Owners retirement combined with health concerns is the reason for sale. Revenues in 2018 were slightly less than 2016 & 2017 due to the health issues. The property is available for an additional $2,390,000 -- the stated financial information does not include a rent or mortgage expense so the purchaser will need to factor in the negotiated rent or mortgage payments.

Detailed Information

Location:
Davis County, UT
Inventory:
Included in asking price
Real Estate:
Owned
Not included in asking price
Building SF:
7,000
Employees:
28
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
approx 7,000 sf on 1.4 acres
Financing:
some seller financing is negotiable for a qualified buyer
Support & Training:
10 hours/week over 8 weeks
Reason for Selling:
retirement
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(from currently available funds)
 
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Colliers International Mergers & Acquisitions

Business Listed By:
Elizabeth Bellit

Colliers International Mergers & Acquisitions

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