$16,500,000
Asking Price
Locations Available: Bay Area: CA
Status: Active
Posting ID: 286519
5/10/24
Details
Asking Price: $16,500,000
Land Area Call / Email
Zoning: Banquet Hall with Dancing or Night club
Building Info
Building Size: 20500 SqFt Sq.Ft
Typical Floor Size 20500 SqFt Sq.Ft
Building Height: N/A
Building Type: Commercial
Parking: Parking upto 1000 cars
Year Built: N/A
Year Renovated: 2016
Description
The Banquet Hall in the Bay Area is exceptionally equipped for Real Estate and Business purposes.
We are delighted to present three ballrooms, all located under one roof, which can be opened up by removing partitions to accommodate up to 1,000 people.
The state-of-the-art décor features K-9 crystal chandeliers, creating a magnificent and elegant atmosphere. Our bar, equipped with state-of-the-art facilities and a full bar license, can cater to your needs. We hold exclusive licenses for the bar, Banquet Hall, and Entertainment, enabling us to host concerts and various public events.
Each ballroom has its own entrance, along with separate bathrooms and bridal changing rooms. State-of-the-art HVAC systems have been installed throughout the ballrooms.
For convenience, the Banquet Hall features separate roll-up doors at the back for vendors and deliveries.
Our state-of-the-art kitchen, complete with a walk-in cooler and freezer, is equipped with a full line of cooking equipment capable of serving food for up to 10,000 people, along with two large 10,000-gallon grease interceptors.
This eight-year-old business includes both a well-established Business and Real Estate, with an asking price of $16.50 million. The total coverage area is 20,500 square feet, accompanied by free parking. Gross income ranges from $3,000,000 to $3,500,000.
The value of the Entertainment License, worth $2,000,000, is included in the purchase price, along with a Liquor License valued at $100,000.
The business value is estimated at $4,500,000, while the building value is $12,300,000, based on $600 per square foot for 20,500 square feet. The total value amounts to $16,500,000. The market value is calculated at $700 per square foot for 20,500 square feet, totaling $14,350,000, plus $4,500,000, resulting in $18,850,000.
An NDA is required before any discussion can take place, and interested parties must meet in person before any further information is revealed.
The Banquet Hall features well-designed acoustic ceilings for the sound system and soundproof walls.
Additionally, an NDA is mandatory before discussing any details about the business or its location.
The location provides easy access to all freeways.
The Banquet Hall boasts artistic paintwork throughout, including fine touches of real gold leaf at the edges of the ceiling, creating a glamorous ambiance upon entering.
An elegant bar at the entrance welcomes guests, inviting them to paradise with a glass of their favorite drink.
To get more information about this Banquet Hall - With Real Estate, 3 Under 1 Roof business for sale in Bay Area please phone Ash Umer (Agent - BRE License #:01145215) at 408-694-8837 - if you get voicemail please leave a detailed message - make sure you mention you saw this posting/ad #286519 on BizBen.com. In addition to phoning Ash Umer, make sure you email Ash Umer above to get more info about this Banquet Hall - With Real Estate, 3 Under 1 Roof, to ask any questions or request an appointment to see this business for sale. Thank you. Aliance Bay Realty.
Contact
Attributes:
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If your business involves alcoholic beverage sales, we can help. Obtaining a liquor license transfer or selling a business with a license in California does not have to be a frustrating and overwhelming process. We have procured thousands of licenses for our clients.
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