Live Music Venue with Lottery!
Just listed! Established Bar that is known to have the best live music in the Portland area! Music consists of all genre, Comedy on Tuesdays, Trivia on Thursdays and has something for everyone! Events are booked until the end of this year. There is 3000 square feet, seating for 99, small outside seating area for 8, 4 Lottery machines which did a net of $39k in 2021 and a net of $18k thru May of 2022. There is a full kitchen with a 12 foot hood system which would suit any venue. Currently serving American food. There are currently 5 employees including one door person and a cook. Hours of operation are 3:00 p.m. until 1:00 a.m. or 2:00 a.m. depending on crowd 7 day per week. Lease is fantastic at $3285 per month including all expenses with an annual increase of $50 per year. There is currently 4.5 years on current lease with one additional five year option. Seller has First Right of Refusal on property! There is room for growth by extending business hours and opening during the day. This is a turn key location and a great opportunity. All Buyers will be asked to verify funds and credit.
Olcc
FOP
Lease
$3285 per month including all expenses
Sq. Ft
3000
Cuisine
American
Kitchen
Full with a 12 foot hood system
Lottery
Yes
Property
1st Right
Employees
5
Down Payment
$60K
Lease Option
One additional five year option
Indoor Seating
99
Outdoor Seating
8
Lottery Machines
4
Lottery Net 2021
$39k
Hours Of Operation
3:00 p.m. until 1:00 a.m. or 2:00 a.m. depending on crowd 7 day per week
Lease Term Remaining
4.5 years
Lease Annual Increase
$50 per year
Lottery Net Thru May 2022
$18k
Financials
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