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Listed by:

Bateson Business Brokerage

Established Bar/Patio Lounge In Florida For Sale

Florida, US
Freehold Price:
$1,300,000 Furniture / Fixtures and Inventory / Stock included
Lease Asking Price:
$500,000 Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$755,500
Cash Flow:
$129,500

This is an established "Cheers Style" bar/lounge that has a full calendar of entertainment, including live bands.

The bar is located in a free-standing building with Hwy.

frontage offering traffic counts exceeding 53,000 daily vehicles. Unlike other offerings, you control your rent as the entire building is available for purchase or lease, which could include a longer-term purchase option.

There is also ample outside seating and weekend entertainment around one of the largest Tiki bars in the area.

Over 1,200 rental units were recently developed within 3/4 mile of the establishment. Oct22 to Oct23 monthly sales up over 30%.

Billiards tables were also recently added, which is generating further patronage.

Includes a 4COP license valued at $290,000. RE is also available for purchase at $800,000 or a monthly lease of $4,500 plus property taxes.

Property Information

Real Estate:

Available as lease or with real property included

Lease Terms:

Plus payment of annual property taxes. Term to be negotiated including long term purchase option of building currently priced at $800K.

Leasehold Rent:

$54,000 per annum

Living Accommodation:

2nd Floor of building is currently used for storage and office that could be converted into owner or manager unit. Has full bathroom including shower in place.

Location:

Located along major north-south Hwy in Seminole County, FL. Direct frontage along Hwy yielding over 53,000 daily traffic counts. Over 1,200 rental units have been developed recently within 3/4 mile of subject Bar.

Premises Details:

Includes 2,800 SF building that has a 2nd floor (468 SF) currently used for storage and office that could be converted to owner unit as it includes a full bathroom. Property is approximately 1/2 acre with parking agreement in place with adjoining business owner that accommodates overflow parking for special events. Has large outside entertainment area including popular Tiki Bar. Bar is turn-key that includes small kitchen for bar food/snacks that could be upgraded for additional revenue driver. COP4 license is included and RE can be purchased. Has lighted pole sign out front.

Size in square feet:
2,838

Business Operation

Expansion Potential:

Could add package store that has been requested often by patrons. Area growth will continue to add further patrons. Owner is in retirement mode so new engaged owner could further energize activities.

Competition / Market:

Competition is capped as City has license moratorium. Subject offers one of the largest outside entertainment area among competitors that is a popular FL feature.

Reasons for selling:

Retirement

Trading hours:

Monday: 4pm to 2am.
Tuesday- 12pm to 2am.
Sunday:

Employees:
12
Years established:
45

Other Information

Support & training:

Up to 2-3 weeks at $0 cost.

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

Negotiable

Furniture / Fixtures value:
$89,000 - included in the asking price
Inventory / Stock value:
$13,000 - included in the asking price
Lease asking price:
$500,000 - Furniture / Fixtures and Inventory / Stock included