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Celtic Ray Pub
Location Michigan,United States
Asking Price Range $250K - $500K
Gross Revenues $0
Net Profit / Cash Flow $0
Cash Flow Type Sellers Discretionary Cash
Seller Finance No
Year Established 2008
Number of Employees 6 - 9
Inventory 40000
Relocatable No
Number of Employees 6 - 9
Real Estate Owned
Description Building/property: 210 Huron Avenue (just north of the Black River) in downtown Port Huron, Michigan. Building is 5,300 sq feet on main floor; full unfinished basement with bathrooms; Second floor office space (approximately 700 sq ft) is divided into 3 offices and bathroom. Access is from interior of building. Wiring for register system feeds upstairs. Parking lot directly behind building is part of purchase; there is a rear entrance to facility from this lot. Details : Building originally underwent complete renovation in 1999 to become JD's Key Club Dueling Pianos. New roof; New heating/cooling roof top units; electrical wiring; plumbing etc. Basically everything in and outside of the building is under 10 years old.
Celtic Ray began renovation in December, 2006. A kitchen was added; bathrooms were renovated; new bar was put in place; booths and seating were installed and more. This renovation is approximately 85% complete. Due to legal / financial problems, they had to abandon the project. There are numerous new bar stools (still in boxes) as well as chairs, tables, register system , 2 bottle coolers, ice machine, office desks, filing cabinets, walk-in cooler, kitchen prep tables (new still in box) and much more. All are included in the sale. Class C liquor license is part of purchase/lease.
Incentives through city: Since it is in the heart of the entertainment district, the City of Port Huron, through the DDA and EDA, has earmarked this location and has many incentives for it. Up to $50,000 in grants/matching funds/forgiving loans available. Nearly $500,000 in a low interest loan through the DDA.
Price: $399,000. This would include everything within the building as well as the class C liquor license. Business only - $25,000 and then enter into a 5 year lease. Lease is available for $2,900 triple net or $3,900 double net. Contact for more information on this Pub for sale.
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