MergerPlace

Banquet Hall-Seats 500+

Iowa


  • Asking Price: $1,200,000
  • Gross Income: $73,935
  • Cash Flow: $12,086
  • Real Estate: Not Disclosed
  • Inventory: $2,000
  • FF&E: $198,000
  • Listing ID: #214722
  • Established: 2017
  • Employees: 1 FT

Business Description

This beautiful new banquet/wedding venue boasts close proximity to a freeway in Iowa without the devaluing noise and traffic. Newly remodeled banquet hall 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 5+ acres, large paved parking lot, FF&E and inventory. Business started two years ago and sales doubled in year two setting the stage for new owner to excel.


Business Details

Primary Business Category: Accommodations
Location: Iowa

Company Information

Year Established: 2017
Home Based: No
Franchise: No
Relocatable: No
Number of Employees: 1 FT

Financial Information

Asking Price: $1,200,000
Gross Revenue: $73,935
Cash Flow: $12,086
FF&E: $198,000
Inventory: $2,000
Seller Financing Available: No

Property Information

Facilities:

Very nice 11,000+ sq ft steel structure building with newer steel roof. Enough parking for over 100 cars and plenty of nearby off street parking. Land consists of over five acres next to major highway. Interior is nearly all remodeled and includes seating for over 500, dance floor, large bar, kitchen, coat room and large restrooms. Tables and chairs and all other furnishings are included in this sale. A certified appraisal in 2017 shows value of Real Estate over $1,000,000. Five plus acres of land has potential to be subdivided and developed.

Growth & expansion opportunities:

A new owner could potentially market the business more than the current own's very minimal marketing. New owner could also expand on social media to attract even more bookings/customers.

Competition:

This banquet hall is the largest in a 30 mile radius and word of mouth is spreading with each event hosted.

Reason for selling:

Retirement.

Support & Training:

Will train for 2 weeks @ no cost.

Contact Business Seller

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Business Listed By:

Dan Tryon

Murphy Business Brokers