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#Business ID: 19215

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Karaoke Bar

Business Location: New York City, New York, United States

Asking Price: $ 395,000 Revenue: $ 650,000 Cash Flow: $ 261,000

[Furniture / Fixtures included]

Business Summary

This is a great business that is becoming more popular among all ethnic groups. It has become a great way for groups of people to meet and have a fun inexpensive evening.

In a great Midtown Eastside location that attracts office workers, residents and tourists.

The business is selling for a great price.

Facilities: Located on the second floor in a 2,200 SF space. 10 year lease at $7800/month with 3% escalations. Real Estate Taxes $650/month. Fully equipped Karaoke setup with 2 am full liquor license. This is a difficult license to obtain.

Property Details

Years Established:

2002

Property Type:

Lease

FF&E:

$ 100,000

Other Business Details

Competition:

This is a very popular Karaoke Bar with limited surrounding competition on the UES. There is a nightclub on the ground floor which generates customers for this business. Well known and very popular.

Expansion Potential:

The current owners do no advertising or promotion.

Business Operation Details

Employees:

5

Trading Hours:

Open 7 days 5 pm to 2 am.

Support & Training:

Owner will transition.

Miscellaneous Details

Financing Available:

Yes
Negotiable for qualified buyer.

Reason For Selling:

Other businesses.

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