Bowling, Beer, and Beyond
- Asking Price
"Remember the good old days; a simpler time? When you would go bowling with your friends and family on a Friday night? The smell of popcorn and pizza in the air, the sound of laughter and music, the feeling of excitement as you stepped up to the lane and took your first shot? Here is a chance to own a piece of history and bring that nostalgic feeling to future generations.
Located in one of Michigan’s Tri Cities, this expansive (over 40,000 sqft) downtown real estate has multiple revenue streams working in harmony plus room for more (all of which are included in this sale). The bowling alley is a local mainstay with history dating back to the 1940’s. A classic diner turned commercial kitchen supplies delicious food not only to patrons of the bowling alley but also the adjoining sports bar. This is the perfect place to relax and unwind after a long day at work. A casual atmosphere, friendly staff, and delicious food and drinks, has made this a favorite spot for those looking to avoid the traditional bar district. Out of state investors have decided to redirect their efforts closer to home which opens up this incredible opportunity to a new owner/operator or investor.
Over the last two years the sellers have poured significant time and capital into updating equipment and renovating real estate. Thanks to their efforts, a beautiful retail space featuring high end lighting, display cabinets, and finishes with security systems and technology is ready to house a new business venture for owner or tenant. On the second story of this building you will find office space perfect for managing the day to day operations. Plus a large entertainment area with its own exterior access and the bones to become a concert venue or banquet hall. Parking is not an issue here; in addition to the traditional downtown street parking, there is an adjacent auxiliary parking lot included in the sale.
Now let’s talk numbers. In the first full year (2022) of business the seller's revenues were in excess of $600,000. Miscellaneous start up expenses aside there was a normalized EBITDA of $149,000. Projections for 2023 indicate doubling of the business this year. The potential buyer will find comfort in the value of the real estate. An independent third party appraisal valued the real estate at $900,000 in 2021 before the extensive renovations by its current owners.
Strike this deal while it's hot and receive over 40,000 sqft of real estate, a Class C Liquor License, Inventory, FF&E from all income streams, goodwill and more all for $1,750,000. For additional information on this one of a kind offering contact Praxis Business Brokers today. (Ryan Johnson 269-338-9809 or [email protected])
- Reference ID
- Entertainment, Real Estate, Restaurant & Bar, Retail