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Multi-Sport & Youth Entertainment Indoor Complex

Cincinnati, OH (Hamilton County)

Multi-Sport & Youth Entertainment Indoor Complex
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Asking Price: $500,000

Cash Flow: $800,000

Gross Revenue: $1,800,000

EBITDA: $800,000

FF&E: $250,000

Inventory: N/A

Real Estate: $2,500,000

Established: 1970

Multi-Sport & Youth Entertainment Indoor Complex

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Business Description

A group of investors recently acquired an iconic Cincinnati, Ohio sport complex that has a long history of providing indoor soccer, basketball, baseball, racquetball, exercise and many other related activities for over 45 years. The new owners are renovating many portions of the complex to give it a fresh new look and to add new activities that will dramatically increase future revenues.

The current owners are in the process of reinvigorating the entire complex by remodeling and refurnishing certain areas, re-purposing certain areas and adding new activities that are needed and relevant in the area. Below is a summary of the major plans:

1. Add an outdoor Tiki Bar overlooking numerous future outdoor sand volley ball courts.
2. Repurpose an existing gym into a sports bar serving food and adult beverages.
3. Repurpose the racquetball area into a “children’s fun zone” that will include trampolines, wall climbing, puppet shows and assorted other “fun” related activities.
4. Repurpose current areas to provide spaces for “birthday parties” for groups of children.
5. Expand marketing effort to the more than 70 local schools in the area and hundreds of local athletic teams and groups.
6. Add bingo functions to help local schools and non-profits to raise funds.

The current owners are willing to sell a 50% interest in the complex for $500,000 to a person who can be the day-to-day manager of the business. These funds will be invested in the business to fund the expansion of the business. The current owners will continue to focus on marketing activities which is their expertise! The current owners are also wiling to sell the entire business for $500,000 cash with the buyer’s assumption of the current debt (with no personal guarantees) which is secured by the complex. The current debt is roughly $1,600,000. The debt has a 3-year payoff required which allows the new owner to refinance it at a later date.

Detailed Information

Location:
Cincinnati, OH
Real Estate:
Owned
Included in asking price
Building SF:
100,000
Employees:
10
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The facility is a clean complex with over 100,000 SQ. FT. of space sitting on roughly 3.4 acres of land. There is a separate stand-alone building that now houses a day care center. The facility now has a large indoor soccer area with bleachers, a smaller indoor soccer area, a batting cage, an exercise center, numerous racquetball courts, three refreshment centers, a block of offices and numerous open areas for various activities. The facility has a huge paved parking area that provides ample parking
Competition:
This is a unique complex that has little or no competition in the area.
Growth & Expansion:
The complex is being renovated to allow for multiple new sources o revenue that are relevant in todays times.
Support & Training:
Current owners will work with a new buyer to allow for a smooth transition.
Reason for Selling:
Business expansion
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(from currently available funds)
 
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Thomas Holmes

Business Listed By:
Thomas Holmes

Berkshire Hathaway HomeServices Professional Realty

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Sponsoring Broker:
David Mussari

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