Event Center & Restaurant w/ Multi-Family Invest. & PA Liquor License
Business Description
Highly profitable special event center & restaurant with multi-family investment & Pennsylvania liquor license available for sale in Erie, PA. Offering includes an established event venue and restaurant with a fully equipped commercial kitchen and both indoor & outdoor dining & bar areas totaling over 5,000 square feet plus a 5+ unit multi-family investment at 100% occupancy on over 2 acres. Sale includes real property, two businesses (special event center/restaurant and multi-family investment), goodwill, and equipment. Hospitality operation has a strong track record with 3-year average revenue of ±$1 million and an average NOI margin of ±20%. The multi-family component is equally strong with 3-year average income over ±$99k and NOI margin of ±60%. Operations are currently owner operated and will transition at close. Owner training and transitional assistance available. Ideally located along a major thoroughfare by multiple traffic generators including the shores of Lake Erie. Offered at $2,895,000. Business name, address, and additional information available with a signed confidentiality agreement.
Business Highlights include but are not limited to...
- A unique opportunity to own two complementary cash flow engines of hospitality plus housing that diversify risk and smooths seasonality
- Hospitality operation: Strong 3-year averages with average revenue of ±$1M and average NOI margin of ±20%
-Multi-family: Strong & sustainable 3-year averages with income ±$99k and NOI margin of ±60%
- Real property included totaling over 2 acres ideally located along a major thoroughfare by multiple traffic generators & the shores of Lake Erie
- Special event center & restaurant with multiple entertainment venues, fully equipped commercial kitchen, full-service indoor & outdoor dining and multiple indoor & outdoor bars – floor plan & 3D tour available
- 5+ Residential rental units at 100% occupancy with transferable tenant leases and documented payment history
- Clear upside through targeted digital marketing, staffing normalization, menu engineering, events & hours optimization
- Sale includes real property, two businesses, goodwill, equipment & PA liquor license
- Currently owner operated - owner training & transitional assistance available
- Additional information available with a signed confidentiality agreement
Business Highlights include but are not limited to...
- A unique opportunity to own two complementary cash flow engines of hospitality plus housing that diversify risk and smooths seasonality
- Hospitality operation: Strong 3-year averages with average revenue of ±$1M and average NOI margin of ±20%
-Multi-family: Strong & sustainable 3-year averages with income ±$99k and NOI margin of ±60%
- Real property included totaling over 2 acres ideally located along a major thoroughfare by multiple traffic generators & the shores of Lake Erie
- Special event center & restaurant with multiple entertainment venues, fully equipped commercial kitchen, full-service indoor & outdoor dining and multiple indoor & outdoor bars – floor plan & 3D tour available
- 5+ Residential rental units at 100% occupancy with transferable tenant leases and documented payment history
- Clear upside through targeted digital marketing, staffing normalization, menu engineering, events & hours optimization
- Sale includes real property, two businesses, goodwill, equipment & PA liquor license
- Currently owner operated - owner training & transitional assistance available
- Additional information available with a signed confidentiality agreement
About the Business
Real Estate
- Owned or Leased
- Owned
- Not included in asking price
- Building Sq. Ft.
- 5,000
About the Sale
- Transition Support
- Transition support and training offered by owner.
Listing Info
- ID
- 2492702
- Listing Views
Attached DocumentsAttachment Disclaimer
FLYER--Special Event Center _ Restaurant With Multi-Family.pdf
Listing ID: 2492702 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.
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