Popular Condado Night Club / Event Venue

San Juan, Puerto Rico

One of the main rooms
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Asking Price: $995,000

Cash Flow: N/A

Gross Revenue: N/A

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Real Estate: $475,000*

Established: 2009

*not included in asking price.

Popular Condado Night Club / Event Venue

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Business Description

San Juan Night Club with Unparalleled Permit & Licensing Advantages!

Amazing Business Opportunity - 80% Cash-based Business in Puerto Rico

Opportunity Zone Qualified!

Business can operate 24/7
GRANDFATHERED Permits and Licensing
- "Recreación Comercial Extensa, RC-E" Permit 2014 - with no limitations - Allows for:
20 Slot/ Video Machines, CASINO,
NightClub, Music Event Hall, SPORTS BETTING HOST!- including gambling, popular online fantasy / e-sports betting - Madden, World of Warcraft, Dota, Fortnite, Rainbow six and gears of War; equestrian sports, etc.
- Promoter license is transferable and allows the business to charge entry and sell event tickets

This is a GOLD MINE for the right owner. With active marketing and promotions... this already profitable venue has massive upside potential.
- 80% of revenue is CASH - no restrictions or requirements to sell food! ** A Restaurant permit requires that 85% of Sales be in food. With this rare Bar permit, no food sales are required. Another advantage over the competition.
Lot is located on prime Condado Street address. The surrounding area is composed of primarily commercial properties.
Don't miss this unique opportunity!

Detailed Information

Real Estate:
Owned
Not included in asking price
Building SF:
5,000
Facilities:
Land Area 316 SM Building 5000 +/- Sq. ft. on two floors 45-50 Parking spaces available for rent $700/month Two Large Commercial Buildings on Conjoined Lots Max Capacity 540 persons as per Fire Dept.- has the potential to be increased by 25%-30% (can be increased if a business is expanded into upstairs office, which is 25-30% of the total occupiable area) 150KW Generator CCTV system 18 cameras
Competition:
This is THE club for this niche. It is rated #1 by TripAdvisor for Puerto Rico and organically generates a ton of foot traffic just by its location and local rankings. With the proper marketing and business model, this business could be a cash-cow for the right owner. Most of the other local venues operate in a legal "gray area" - whereas this business has several strong advantages, such as its' advantageous "grandfathered" permits and licenses that convey with the property.
Growth & Expansion:
Business is located in an area of the city that is ripe with tourist activity and the neighborhood is quickly being upgraded and improved. A "Green Lounge" (for legal cannabis patient dosing) is being added on the top floor of the smaller building. Ability to build upwards on one of the two existing buildings. Club is niche and is not actively marketed at the moment. Huge upside potential for the right investor and promotion strategy.
Financing:
Building sale contingent to business sale - Total $1.470.000
Support & Training:
Owner and existing staff will help train the new owner and staff for a pre-agreed amount of time during the transition of management.
Reason for Selling:
Other Development Projects
Franchise:
This business is an established franchise
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Business Location


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Chase Gassert

Business Listed By:
Giselle Stowell

Puerto Rico Properties 101

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