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Newly renovated Nightclub in Mississauga for sale over $1 Million dollars spent. Large capacity, great location and lots of parking. Existing management is willing to stay on during the transition or long term. A new 5 year lease (plus two more 5 year options) is in place at a very reasonable rate. All leaseholds and equipment are free and clear.
This is a perfect scenario to own a club where you can choose to work at the club or just let existing management run it and you as the owner can take an advisory role. All systems are currently in place to ensure zero theft.
Sale Price $695,000
Buyer will require a minimum down payment of $300,000
Seller will hold a VTB of $395,000
The sale price is based solely on the asset value and not EBITDA. The business currently breaks even. What ever revenues are in place at the time of the sale would be considered a bonus to a buyer.
4 Years + an additional 10 Year option = 14 Years
164424 + CAM's + HST per annum
3 major Highways are within 2 to 5 minutes
Licensed as a nightclub with the city and has a clean liquor license
Owner is out of town with other business interests and no longer wants to be involved
Management willing to remain on.
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