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Businesses For Sale

Elegant Event Center in NE Houston with Real Estate For Sale

THIS LISTING HAS SOLD!

Listing Agent:


Marcia Bowron

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Listing: # 8150

Price: $ 515,000

Location: Houston

Listing Profile

Classification:

Service Business

Purchase Price: $515,000
Real Estate Price: $3,980,000
Working Capital: $0
Total Investment: $4,495,000
Down Payment Required: $4,495,000
Gross Revenue: $984,676
Discretionary Earnings: $62,547
Imputed Rent: $240,000
Total Cash Flow: $302,547

Description and Operations


Established Date: 2013
Monthly Rent: $0
Reason for Sale: Health reasons
Employees(Full): 6
Employees(P/T): 1

Reason for Sale:
Health reasons


Description:
You’ve got to look at this fantastic opportunity to own one of the most elegant event centers in the NE Houston area with close proximity to IAH – providing picturesque spaces and dining for weddings, corporate events, private retreats, reunions and more. The beautifully designed facility is filled with southern plantation charm and is located on a gorgeous 22-acre green space filled with walking trails, ponds and woods. All inclusive (tables, chairs, lights, sound, linens and de´cor) - there is no need to rent from outside sources. Their clients are able to choose from a host of options of fabrics for tablecloths, napkins, overlays, etc using their extensive on-site studio for de´cor and linens. Along with the client’s design, they assist with the entire ballroom layout, agenda and timeline and put all the pieces in place for the client, so their event is effortless. Over 30,000 guests a year are entertained at this venue. This geographic area of Houston has become a thriving business center and accommodations for rental venues to hold corporate events, parties and large meetings are being sought out by event coordinators, executive assistants and business owners. From an intimate gathering for 20 to a grand event for 400, there are several spaces for the client to choose from: 3 small reception settings (up to 32, 72 and 100 guests), 1 medium reception setting (up to 184 guests), largest reception setting (up to 432 guests). Ceremony settings consist of a chapel, and 3-4 outdoor terrace/patio settings. Facility currently holds a TABC Liquor License. Financially the venue was on an upward trend since opening in 2013, but owner suffered a debilitating stroke late 2017 and has been away from the business ever since. Because seller was so involved, hands on, and sole sales person, 2018 has seen a drop in booking/sales. New involved owner should be able to turn it around quickly.

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