Movie Theater Net $492k for sale in Suffolk County, NY
| Asking Price: | $1,400,000 | Inventory: | |
| Gross Revenue: | $1,500,000 | Real Estate: | n/a |
| Cash Flow: | $492,000 | FF&E: | $25,000 ++ |
| ++ included in the asking price ** not included in the asking price | |||
Movie Theater Net $492k for sale in Suffolk County, NY
Suffolk County Movie Theater with seven screens with expansion possibility to ten screens. Attendance and revenue is strong and increasing weekly, with projected 2009 revenue of $1.5 Million. There is a large residential population with several school systems and universities in the immediate area , this is a huge growth area.
Suffolk County Movie Theater with seven screens with expansion possibility to ten screens. Attendance and revenue is strong and increasing weekly, with projected 2009 revenue of $1.5 Million. There is a large residential population with several school systems and universities in the immediate area , this is a huge growth area.
About the Business
Year Established:1997
Facilities:Facilities / Terms of Lease: Expenses Rent - $23,000 Real Estate Tax - $4,340 Telephone - $40 Electric - $1,200 Alarm - $70 Internet - $50 Payroll - $12,000 Insurance - $1,000 License Fee - $35,000 Cost of Goods Sold - $5,000 Supplies - $200 Marketing - $800 Maintenance - $400 Carting - $75
Market Outlook and Competition:Competition: There is no competition for a 12 mile radius.
Potential Growth/Expansion: Room for expansion, this movie theater is only working at 75%. Major expansion will make the shopping center the main attraction for a very large busy area of Suffolk County. Already included in the lease is an attached 2,500 square foot building that can be converted to a party area, arcade, or additional food service. The theater was designed and built to have a total of 10 screens. The additional 5,000 square feet of space required can be negotiated for with the owner of the shopping center Population growth in the area is among the highest in Suffolk county. The shopping center is currently being renovated with a new parking lot and upgraded signage. Expansion plans will bring the size of the shopping center to over a half million square feet in the next 12 months. Fifteen years is remaining on the lease.
About the Sale
Management Training and Support:yes
Reason For Selling:To focus on another investment
Seller Financing:yes with 800k down
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