10% CAP Sale & Leaseback - Adult Entertainment Club

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30648107
Property Subtypes: Tavern/Bar/Nightclub, Other
Status: Pending/Contingent
Building Size (RSF): 12,269 SF
Gross Building Area: See Agent
Gross Land Area: 1.84 Acres
Sale Price: $1,600,000 - 2,500,000
Unit Price: $130.41 - 203.77 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Business
Sale Terms: Cash to Seller, Owner Financing, Sale/Leaseback
Cap Rate: Undisclosed
Last Updated: 4/9/2021

Overview / Comments

Northern New Mexico's only Adult Entertainment Club is available for Sale. High barrier to entry market with captive audience. No other zoning in the city permits this use. Ideal acquisition for an existing multi-state operator looking to expand their operations.

The owner is willing to sell outright or Leaseback for 5 Years while a developer determines their ideal exit strategy or redevelopment plan. Current gross income is $23,500/month from 5 Tenants. All of the Tenants are on short term leases but have been in operation for years, some over 25 years. Please email me for a Rent Roll. Tenants do not currently reimburse for NNN's. Owner will carry paper on the deal with a reasonable offer.

Annual Gross Income - $282k
Property Taxes - +/- $21,000/year
Liquor License and operating business convey with the business.

- The building is 12,269sf and sits on 1.84 acres.
- 230' of frontage along Cerrillos
- Located in the heart of Santa Fe along the main commercial arterial of the city
- 46,688 cars per day

** Seller will consider selling for $1.6m with no Lease Back and he will keep with Liquor License.

Additional Details

Nearest MSA: Santa Fe
County: Santa Fe
Tax ID/APN: 1051097356162000000
Zoning: C2
Retail Clientele: Other
Property Visibility: Excellent
Largest Nearby Street: Cerrillos
Feet of Frontage: 230
Traffic/Vehicle Count: 46,688
Tenancy: Multiple Tenants

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,989 57,587 90,504
Median Age: 43.07 42.32 41.98
Households: 4,682 26,367 39,900

Contact

Photograph of Listing Agent

Gannon Coffman

Pegasus Group LLC CARNM CIE Member
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