West 6th Entertainment District Owner Financing Available For Sale

Property Information

Real Estate:

Lease

Lease Terms:

Monthly Rent
$8.400,00
Square Units (Foot, Meter)
13,000
Lease Expiration Date
October 11, 2034, 9:26:50 AM
Terms Options
2-5yr options

Premises Details:

A vibrant Bar & Lounge in operation since 2010, presents itself as a premier destination within Cleveland's vibrant entertainment district. This establishment has carved its niche in the Drinking Places (Alcoholic Beverages) industry by offering an upscale lounge and entertainment experience that includes an outdoor patio and live entertainment. Over the years, this Bar & Lounge has produced over $2,000,000 in annual revenue in recent years, evidencing a stable and profitable operation. The business has not only succeeded in establishing a solid reputation among customers and suppliers alike but has also positioned itself as a significant presence in the local community. this Bar & Lounge's strategic location within the entertainment district has been instrumental in its success, capitalizing on the area's high foot traffic and the city’s investment in the district, projecting a bright future for this sector.

Business Operation

Expansion Potential:

The outlook for the Drinking Places (Alcoholic Beverages) industry, and specifically for this Bar & Lounge, is optimistic. Anticipated investments in Cleveland’s entertainment district signal potential for increased foot traffic and customer spending. Opportunities for growth include expanding the menu, hosting more events, and strategic marketing to further boost revenue. The leadership's commitment to remaining engaged during a transition period ensures continuity and the leveraging of growth opportunities.
This Bar & Lounge represents a well-established, profitable venture in a prime Cleveland location, offering upscale leisure experiences. It stands out for its solid financial track record, strategic location, and potential for further growth, supported by a loyal and diverse customer base. The sale presents a commercial opportunity for individuals or investor groups interested in the vibrant nightlife and entertainment industry, with operational and growth strategies well outlined for future expansion.

Competition / Market:

What makes this business different?
This Bar & Lounge operates within a dynamic competitive landscape characterized by its unique positioning and industry recognition. Distinctly approved by major sports leagues such as the NBA and NFL as an entertainment venue, the establishment not only leverages this approval for marketing purposes but also to attract a high-profile clientele that includes professional athletes and local celebrities. This endorsement serves as a significant competitive advantage, setting it apart from other venues in one of Cleveland's most frequented entertainment districts.

Despite being located in a competitive area teeming with bars, nightclubs, and restaurants, this Bar & Lounge benefits from the synergistic effect of its surroundings. The concentration of entertainment options in the area draws thousands of visitors daily, creating a bustling environment that benefits all businesses, including this Bar & Lounge. However, it's worth noting that while this cluster of entertainment options generates increased foot traffic, it also means competition is high. Businesses in the vicinity must continuously innovate and upgrade their offerings to maintain and grow their market share.

Reasons for selling:

Other Ventures

Trading hours:

Thu-Sun 10pm-2am

Employees:

33

Years established:

2010

Other Information

Support & training:

4 Weeks

Owner financing:

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

Financing available:

Owner Financing Amount
$750.000,00
Owner Financing Interest
6%
Owner Financing Terms Months
72
Owner Financing Monthly Payment
$12.429,75

Furniture / Fixtures value:

$125,000 - included in the asking price

Inventory / Stock value:

$10,000 - included in the asking price