Banquet Hall-Seats 500+ Includes $800K in RE

Business
  • Listing# : 15019
  • Listed Price : $695,000
  • Total Sales : $83,211
  • SIC : 6512
  • Down Payment : $536,000
  • Status : Active
  • Discretionary Earnings : N/A

Business Type :

Amusement/Recreation / Family Entertainment Centers; Business Services / Event Planning; Commercial R.E.; Restaurants / Banquet Hall/Caterer

Business Description :

This beautiful new banquet/wedding venue Iowa seats over 500 and includes lounge, bar, kitchen and large restrooms. Real Estate has a certified appraisal value of over $1,000,000. Sale includes 11,000+ sq ft building on approximately 4 acres, large paved parking lot, FF&E and inventory. Business started three years ago and sales tripled in year two. 2020 was adversely affected by the Covid pandemic but bookings for 2021 are now almost full. There is a pent up demand for wedding venues as several wedding celebrations were postponed due to the pandemic.

Assets/Liabilities:

    • Accounts Receivable $0
    • Incl :
    • Real Estate $800,000
    • Incl : Yes
    • Inventory $2,000
    • Incl : Yes
    • Liabilities $0
    • Incl :
    • FF&E $198,000
    • Incl : Yes
    • Other: $0
    • Incl :
    • Leasehold $0
    • Incl :
    • Total Assets $1,000,000
    • Incl : Yes

Lender Prequalified: No

Similar Listing :

Amusement/Recreation, Business Services, Commercial R.E., Restaurants