Bar For Sale near Capitol Hill Area in Denver - Owner financing availa

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Bar For Sale near Capitol Hill Area in Denver
Asking Price:
$283,900

Gross Revenue:
$520,000
Cash Flow:
 Not Disclosed
EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed

FF&E:
 Not Disclosed
included in asking price

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Business Description

Buy this established Bar For Sale near the Capitol Hill Area in Denver with significant owner financing available! Outstanding lease terms and excellent location make this a winning location for your new concept. Liquor License in place.
This bar for sale occupies a 2,022 square foot space on three levels. The business seats approximately 80 people with a total occupancy of 148 guests. It is in downtown Denver near the thriving Capitol Hill area and is surrounded by both residential and commercial vehicles and significant foot traffic.
Over 55,000 vehicles pass this bar for sale offered by We Sell Restaurants every day. The area now being populated with new restaurants, bars, nightclubs and specialty retail, there are always potential guests that are walking in and around the area.
The current lease was recently renegotiated and the base rent for this Bar for Sale is a staggeringly low $22.72 per square foot! Triple net monthly rent is an incredibly low $4750 in total. Rental rates on this establishment are, in many cases, half of what you would pay for rent in this area. There are currently 4½ years left on the existing lease with an additional 5-year option.
This bar for sale is located between Cheesman and City Park, only three blocks from two major health care facilities. This area is the most difficult area in all of Denver metro to obtain a new liquor license. The owner has held a Tavern & Amusement license for these premises for over 13 profitable years with absolutely no violations whatsoever.
The bar for sale in its current concept may not, necessarily, be of interest to all perspective buyers. The options, though, for a new owner are literally endless. The space has three floors…the ground floor, where the bar is constructed, is separated by a non-load bearing wall that splits the main area from an adjacent room that is used as a dance floor, DJ/Band area.
The removal of that wall would open the entire ground floor level into one large room. The lower level is set up to be more of an intimate area with couch seating and a quiet place to visit with friends. The upstairs is currently set up as a gaming area with additional seating there as well. There is also a large basement for storage.
As it is likely that a new owner would change the concept, this bar for sale is listed as an asset sale. No books or financials will be provided. The value of this business relies heavily the original build-out, incredible location, positive lease terms and extraordinarily low rental rate.

About the Business

Year Established:
2005
Number of Employees:
5
Real Estate:
Leased
Building Sq. Ft.:
2,022
Rent:
$9,604,500.00 Per Month
Lease Expiration:
12/31/2022
Facilities:
Schedule A FF E List Quality Espresso Coffee Grinder Commercial cappuccino latte machine Panasonic flat-panel television Pine wood service bar Fax machine Adding machine Misc office furniture Misc couch s lounge chairs Electronic cash register Professional audio equipment and speaker system Stand-up piano circa 1893 Misc tables and chairs Refrigerator freezer combo New Atosta glass front double door beverage cooler GE small refrigerator unit True single glass door stand-up beverage cooler Misc shelving units The only things to be EXCLUDED in the sale is the current owners personal artwork which is throughout the establishment
Website:
https://www.wesellrestaurants.com
Market Outlook/
Competition:
Extremely heavy vehicle and foot traffic Area has many newly renovated business s and continues to be one of the hottest business communities in the Denver Metro area Close to many residential neighborhoods with a great commercial customer base as wel
Growth & Expansion:
This area in particular is the most difficult place in the Denver metro area to obtain a NEW liquor license of ANY sort This is a 3 level establishment and with the removal of one non-load bearing wall the space could be made to cater to any type of
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About the Sale

Reason For Selling:
Personal
Training/Support:
2 Weeks complimentary
Seller Financing:
50% Down

Listing Info

ID:
1577522
Ad Detail Views:
0

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Business Listed by

Eric Gagnon

We Sell Restaurants
License# H49152

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U.S. Census Data for Adams, Arapahoe, Denver and Jefferson Counties, CO
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Source: Decennial Census (2010), United States Census Bureau.

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U.S. Community Survey Data for Adams, Arapahoe, Denver and Jefferson Counties, CO
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Source: American Community Survey (2010-2014), United States Census Bureau.

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