Cash Cow - Absentee Sports Bar with Real Estate

Hobbs, NM
Lea County

Prime Location - Heart of Hobbs Retail Area


Asking Price: Annual Revenue:
$2,900,000 $1,851,901

Food & Beverage: Bars, Clubs, Nightspots


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RE: Cash Cow - Absentee Sports Bar with Real Estate Broker: Milford Jones
License #: BR634507000

Quick Facts

Asking Price: $2,900,000
Annual Revenue: $1,851,901
Net Profit: $664,818
Cash Flow: $664,818
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: $1,800,000
Year Established: 2008
Employees: 22
BBN Listing #: 105362894
Broker Reference #: 5019

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Business Overview:

Go Visit This Sports Bar by Selecting the "Want Name/Address" link to the Left!

IMPROVE YOUR STANDARD OF LIVING!

This Sports Bar is located on the border of Texas in the Southeast side of New Mexico with a town boasting of great moderate high desert weather where the winters are mild and the summer not too hot. In addition, this sports bar is located in one of America's fastest growing small cities where housing prices are still in the mid $100,000's to beautiful homes in the $350,000's.

NEW DEVELOPMENT IN THE AREA

There's lots going on in this town and right across the street too! First, there's a massive sports complex that recently opened across the street from this sports bar and has helped grow the revenues of this restaurant and created a more balanced flow of clientele. This sports center is the regions premiere sporting event location for high schools as well as college athletics. Second, housing development is off and running with several hundred homes being built per year and what's so attractive is housing is very affordable in this town. The new Covenant Hospital is being built 1 block away that will employ approximately 500 people.

DEMOGRAPHICS

This town is the largest city in the county with a population of nearly 50,000 hungry souls. But it doesn't stop with locals. The oil workers and executive flock to this area because of the massive oil reserves found in this area. The hole punchers are pouring billions into getting the oil out of the ground and that means lots of people coming to this town with hungry bellies. Average household income is around $71,000 per year with 66% of the population over 25 years old and ready to eat and drink! Roughly 50% of the population is Latino. There is little entertainment in this town, so adding entertainment to this venue will attract more business.

OPERATIONS

The sports bar was launched in 2001 with the owner constantly re-investing in the facility with a recent $200,000 upgrade. This sports bar is absentee operated with the owner living in another state. There's a general manager in place who heads the front of house. The back of the house has had a long-time employee running the kitchen. The owner shows up perhaps a week every 5 or 6 weeks. There are about 20 total employees with 11 part-time and 9 full time. The sports bar & restaurant seats 300 hungry people. An owner operator could add some solid value to this business with the personal owner touch.

REAL ESTATE

This is 1.47 acres of a prime piece of real estate on a main thoroughfare with 18+ hotels within blocks, the county event center, a major casino within blocks, as well as the brand new regional sports complex across the street from the sports bar. The building has about 8,900 Sq. Ft. and there are about 77 parking spaces.

There is a 3.5 acre +/- piece of land available next to the restaurant to build a hotel. The price for this is an additional $700,000.

INDUSTRY

There are three industries driving this town's economy, oil, nuclear, and medical. The other industry where there is growth is the nuclear waste business as well as the uranium enrichment centrifuge. New Mexico JC and College of the Southwest are also located within 2 miles. The new Covenant Hospital is under construction less than 2 blocks from the site. It will employ approximately 500.

REASON FOR SELLING

The owner is 74 years old and has been undergoing some very serious health issues and wishes to retire so he can focus on his healthy and enjoy more time with family and friends.

NEW MEXICO LIQUOR LICENSE

The full liquor license is included in this price. Liquor licenses in New Mexico are rare and command some of the highest prices in the nation click here to read details, some even sold for a million bucks! These rare liquor license have sold for as much as $500,000 in today's market. The good news is In New Mexico liquor licenses are personal property, meaning they are mortgageable. In other words, one can get a loan against them. Banks lend up to 50% of the licenses value, meaning this could be a source of funds for the purchase. The liquor license is included in the price. Or it could be leased to you. Call me to get details.

FINANCIALS & SBA LOAN

We have great tax returns for backup of the cash flow. The revenues have been growing the past few years and more growth is expected via the boom in newly found oil reserves in the area. 2019 Revenue were nearly $1.9 million and working owner cash flow nearly $665,000 with EBITDA of about $599,000. These amounts reflect the rent being added back to illustrate the cash available to finance this purchase. SBA Loan is available with 10% down in the real estate and 20% down on the business. With COVID restrictions lifting, sales are making a come back and should get back to previous sales by year end.

To request more information regarding this listing, simply check the ADD TO REQUEST INFO BASKET button and when you are done searching and have made all your selections, simply click on the REQUEST INFO button at the bottom of the page.

Property Features and Assets:

Located on major street near major sports complex and new development.

Reason for Selling:

Illness.

Additional Details:

  • The property is owned.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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