Reel Grill Cinema Tavern
108 Tulane Ave., Alvarado, TX 76009
Front Elevation of The Reel Grill Tavern
Price:$2,606,000
Building Size:26,000 SF
Price/SF:$100.23
Property Type:Sport & Entertainment
Property Sub-type:Theatre/ Performing Arts
Property Use Type:Investment
Distressed:Yes
Commission Split:5%
No. Stories:2
Tenancy:Multiple
Lot Size:2.53 AC
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Last Verified 4/9/2012
Listing ID 17468765
Description
Four Screen Movie Theatre with full service grill, bar, concession and dining area. This is an entertainment facility for families and adults. The 21000 square foot ,+/-, complex also has an 800 square foot, +/-, video game room, 2000 square foot, +/-, laser tag room with equipment, two party rooms that can also be used for corporate events. Flat screens for sporting events are in the dining & bar area.
There is an additional 5000 square feet +/- of vacant lease space that can be used for expansion of the bar or dining area, additional theater screens or can be leased for retail space. More info is available upon request.
Located at the crossroads of I-35 W and Highway 67, this location has high traffic count and premium exposure.
Existing retail operations within a ½ mile radius include:
-Holiday Inn, La Quinta, Comfort Suites, Days Inn, Super 8
-McDonalds, Pizza Hut, Sonic, Whataburger, Chicken Express, Waffle House, Dairy Queen
-Brookshires, Autozone, ExxonMobil, Chevron
I-35 Business, 1/2 mile north of Hwy 67 with exposure to I-35 West. Five mile surrounding area has a population over 16,000 with an average household income over $62,000.
Financial Summary
Proforma
Year2011
Scheduled Gross Income$1,107,795
Effective Gross Income$689,158
Operating Expenses$212,771
Net Operating Income$181,590
Map of 108 Tulane Ave., Alvarado, TX 76009 (Johnson County)Hide Map