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TOPIC: Lease terms

Lease terms 02 Mar 2008 17:15 #17740

  • dsschoenborn
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I searched and can only find old posts on this. I was wondering what new lease terms people are getting for theatres today. Dixed or based on % of attendance?

Is $3 foot firm good or poor for a small town with a 20 mile pop of 55,000? No compitition in a strop mall setup?

Thanks for you opinions?
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Re: Lease terms 02 Mar 2008 18:56 #17741

  • slapintheface
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$3.oo ft total or with cam..


$3 almost anywhere is a steal...
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Re: Lease terms 02 Mar 2008 22:30 #17742

  • rdetzler
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Yeah that certainly seems cheap enough to negotiate a decent arrangement on.

Roger
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Re: Lease terms 03 Mar 2008 11:11 #17743

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I put $3 out there for a starting number. I think $4.25 with CAM is what they are thinking. It has 5 screens so the rent for the whole space at that price is over $80,000 a year. Seams like a lot of rent to us.
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Re: Lease terms 03 Mar 2008 11:55 #17744

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must be a big theater ..........how long is it closed..

my 3 screen we pay almost double that...
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Re: Lease terms 03 Mar 2008 13:09 #17745

  • jacker5
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I was offered this deal for a lease but feel it is to much. What are your views? I have always steered clear of leases cause I feel I am paying someone else mortgage and getting nothing for it. Between the monthly lease fee and mortgage. I can you profit from that?

The current lease is assumable and runs through August 2020. The monthly rent is $7,297.25 plus CAM charges.

The price for business is:
The business, including furniture, fixtures, and equipment, and good will, is offered at $595,000. Concession and supplies offered separately at cost.
The two smallest auditoriums hold 70 people each. Increasing in size, the other auditoriums hold 140, 160, 170, and 180 people. All are serviced by an L-shaped projection booth with make-up areas. Most of the equipment was new as of the mid-1990s and there is digital sound in each auditorium.
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Re: Lease terms 03 Mar 2008 14:32 #17746

  • slapintheface
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never ever buy an old theater building.Lease is by far a better way to go ..Owners can not get ride of theater buildings ..(newer buildings are different)
Old theater buildings do not go up in value in most cases.
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Re: Lease terms 03 Mar 2008 14:35 #17747

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jacker i know which theater you are talking about.
First at that price candy and such should be included in the asking price..THERE BEING CHEAP!
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Re: Lease terms 03 Mar 2008 15:40 #17748

the rental cost isn't bad at all! I can't possible tell you if the cost of the business is to much since you don't include any figures of what the business does. Of course, in this business people don't like to share that with anyone, not even potential buyers but you have a right to know.

Weather it will cash flow is a two fold thing, is it able to cash flow from the information they have given you and do you think you will increase the business they have or just maintain it?

I feel the lease is a good deal but don't know for certain, if the building owner doesn't do the required maintenance then it can't be cheep enough. If he does then it is fine lease.

But you have settle the real question of what will the grosses be!
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Re: Lease terms 05 Mar 2008 21:14 #17749

That's not bad at all. I've got 10,000sq ft. and we're paying about $1,900 in rent and $1,600 in CAM. I'm also in a strip mall in a small town.
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