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Potter County, Texas
Event Center with Commercial and Residential Complex
Asking Price
$1,200,000
Revenue
Call/Email
Down
$500,000
Cash Flow
Call/Email
Name: Vanessa Bryer
Name
Vanessa Bryer
Description
The offices rent out for $750.00 per month and the other 1 is occupied by owner, additional one is vacant and the last office is $450.00. The owner is increasing rental amount on all offices 6/26.
The party room established as an event center in 1999 is a 2700 sq. ft. space with a 500 sq. ft. kitchen, 4 refrigerators, 2 microwaves, 1 stove, 3 compartment sinks and stainless-steel counter tops. Party room comes with 20-50" round tables and 6-6' rectangle tables, 200 chairs and hold up to capacity of 176 people and a parking lot for 87 vehicles. Rental time is normally from 10am-6am the next morning. 20 hours. Rates vary depend on day of use.
Building was built in 1986 with the roof updated in 2017. HVAC is a total of (2) 4-ton units for the main building and apartments and (2) 4 tons for the 2700 sq. ft for the event center. Apartments are equipped with washer/ dryer, dishwashers and ovens.
Main building is zoned for light retail and is made out of blend of wood trustees, steel R paneling and brick on front and ends.
The two homes that are detached of the building sit on the south side of the property. One home is 650sq.ft and is rented for $575.00 per month. The other home is 830 sq. ft and has been recently remodeled with 50k and is rented out for $925.00 per month.
All units have been rented and has a 92% occupancy rate. Per owner the office(s) rate needs to increase.
Event center can be changed or converted to any other commercial space, per city. The event center is an underperforming asset with low revenue, no marketing, discounted office rentals, and strong conversion potential. Its value lies far more in what it could be than what it currently earns.
https://tworld.com/locations/Texas/southandwesttexas/listings/Event-Center-with-Commercial-and-Residential-Complex
Business Details
Year Established:
1986
FE&E:
$20,000
Reason for sale:
Retire
Lease & Tenant Information
Lease Options:
N/A
Other Information
Listing Number:
76931-733754
Sales:
$76,000
Posting Information
Posting ID:
ID tw:90162 / Listing Number 76931-733754
Business Category:
Real Property Rltd, Retail Miscellaneous, Personal Services
Keywords:
Transworld
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Posting Title
Event Center with Commercial and Residential Complex
Posting ID
#*4f25b71bf80b1ae3c9631c81a097d24c*90162
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Agent, Broker or Seller Contact
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