Close

Choose your country

Or view all businesses for sale

Worldwide

Advertisement

Banquet Hall Seats 500+ Includes $800k In Re For Sale

Iowa, US
Asking Price:
$695,000 (USD) Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$83,211 (USD)
Cash Flow:
Available on request

This beautiful new banquet/wedding venue Iowa 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 approximately 4 acres, large paved parking lot, FF&E and inventory. Business started three years ago and sales tripled in year two. 2020 was adversely affected by the Covid pandemic but bookings for 2021 are now almost full. There is a pent up demand for wedding venues as several wedding celebrations were postponed due to the pandemic.

Property Information

Real Estate:

Real Property Included

Premises Details:

Very nice 11,000+ sq ft building with newer steel roof. Enough parking for over 100 cars and plenty of nearby off street parking. Land consists of over approximately 4 acres next to major highway. Interior is 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. Four plus acres of land has potential to be subdivided and developed.

Business Operation

Expansion Potential:

New owner could add catering. Current owner upon sale of a recent catering business signed a non-compete for catering and currently turns down all catering, and nearly every customer has requested catering. A new owner could also potentially market the business more than the current owner's very minimal marketing. New owner could also expand on social media to attract even more bookings/customers.

Competition / Market:

This banquet hall is the largest in a 30 mile radius and word of mouth is spreading with each event hosted. The closest competitor closed its door in December of 2020 leaving an opportunity to market to new customers.

Reasons for selling:

Retirement.

Trading hours:

By Appointment

Employees:
1 PT
Years established:
4

Other Information

Support & training:

Will train for 2 weeks @ no cost.

Owner financing:
Owner financing is available. Please contact the seller for more information.
Financing available:

$536k down/$159k over 60 mos. @ 5%.

Furniture / Fixtures value:
$198,000 (USD) - included in the asking price
Inventory / Stock value:
$2,000 (USD) - included in the asking price

Contact Murphy Business & Financial

Selling your business?

If you own a business and are considering selling, visit our Sell a Business section. Limited Trial available.

Sell Your Business

Are you a Business Owner?

Set up your Private Seller Account and create your listing today

Get Started Here

Are you a Business Broker?

Set up your BrokerWeb Account and list multiple businesses

Get Started Here