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TOPIC: theaters 4 sale 2007

Re: theaters 4 sale 2007 26 Jun 2007 15:28 #17212

  • Mike
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59K for a bowling alley and a movie theatre and a laundromat? Someone must be kidding.

Michael Hurley
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Re: theaters 4 sale 2007 06 Jul 2007 19:45 #17213

  • slapintheface
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Re: theaters 4 sale 2007 11 Jul 2007 14:27 #17214

  • lionheart
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I don't remember seeing these before, but maybe...

Movie Theater, Palm Beach County, Florida... $390,000
http://www.bizbuysell.com/cgi-bin/addetail?p= 0&ss=1&k=theater%20theatre%20cinema&sort=asking&sorder=2&pfrom=&pto=&tab=eb&q=284057

Restaurant/Dinner Theatre, Palm Beach, County, West Palm Beach, Florida... $299,000
http://www.bizbuysell.com/cgi-bin/addetail?p= 0&ss=1&k=theater%20theatre%20cinema&sort=asking&sorder=2&pfrom=&pto=&tab=eb&q=282228

Nightclub/theater/music venue in Fairbanks, Alaska... $750,000
http://www.bizbuysell.com/cgi-bin/addetail?p= 1&ss=1&k=theater%20theatre%20cinema&sort=asking&sorder=2&pfrom=&pto=&tab=eb&q=293154



[This message has been edited by lionheart (edited July 11, 2007).]
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Re: theaters 4 sale 2007 11 Jul 2007 14:51 #17215

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Re: theaters 4 sale 2007 20 Jul 2007 21:32 #17216

  • jacker5
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Some of these cinemas have been for sale for years and still are not lowering there outrageous prices.
Why is that? Do they really want to sell?
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Re: theaters 4 sale 2007 21 Jul 2007 19:17 #17217

  • lionheart
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There are different reasons people use to establish their asking price for property. Just off the top of my head, I could make a list. Not knowing the details on any of the properties that have been posted in this thread, it could be any one of the following, or more than one, or one I haven't thought of yet.

1. They need a minimum amount to cover their debt and the amount they have invested. Or at least, they have to pay off what they still owe. In other words, they don't want to take a loss.

2. Surrounding properties are valued by the square foot. Large theaters mean high price tags when square footage is factored in. Some have said in the past that people selling or renting theater space shouldn't expect to get as much per square foot because theaters don't bring in the same money as retail space. So, why on earth would the owner or landlord care if it stays a theater? Sometimes they don't.

3. Sentimental value. Never mind that nobody is getting rich running it. It's been in the family since 1938, or it was their dream business, and if somebody is going to take it, they will have to pay dearly. If nobody will pay it, they will just keep it.

4. Aesthetic value. It's gorgeous, or at least it used to be. (Remember beauty is in the eye of the beholder.) Isn't a palace worth more than a bland meeting hall of the same size? When buying residential property, aesthetic improvements would only raise the price a small percentage, maybe 15% in most neighborhoods. Spend more than that and you've wasted your money overbuilding. Does this apply to movie theaters? Not likely. At least not in the seller's mind.

5. Somebody had an appraisal done and that is what the appraiser said.

6. The place actually makes money. So in addition to the value established by other methods, you also have to pay something additional for what you might earn. Why should they give it away when it's making money?

7. Somebody has been reading all the industry statistics (or this web site) and calculated what the place could make if run right. In other words, they see you coming. Never mind that it may not be possible to earn what they think it will.

8. The owner wants to retire and/or some other financial goal, and this is the way they are going to make up for not having a fat retirement account waiting for them.

9. If the theater is listed for sale as a business and not just as a building, then you are paying for past income, business name, owner's reputation, and lots of intangibles that I remember hearing called "blue sky". You will also be buying somebody's blood, sweat, and tears. See sentimental value above.

I'm sure there are more reasons, but that is more than many of you will want to read. You get the idea. People don't always have to sell. Nor do they always want to sell. If they do sell, they have needs that have to be met. Figure out how to meet their needs and yours too and you will find a way to make a deal. Sometimes it's just not possible with a particular property, so you have to keep looking.

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Re: theaters 4 sale 2007 06 Aug 2007 03:01 #17218

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Re: theaters 4 sale 2007 06 Aug 2007 13:13 #17219

  • kalvarez
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I have a twin theater for sale in Il. A turn key operation perfect for anyone. I have other interests. I also have a theater for sale in Wisconsin. Call for details. (262)853-4338
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Re: theaters 4 sale 2007 07 Aug 2007 00:31 #17220

  • Cinemateer
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<BLOCKQUOTE><font size="1" face="Verdana, Arial, helvetica">quote:</font><HR>Originally posted by jacker5:
<B>Here are a few theaters I came across on Ebay:
http://cgi.ebay.com/PIPESTEM-DRIVE-IN-THEATER_ W0QQitemZ320140019902QQihZ011QQcategoryZ15825QQssPageNameZWDVWQQrdZ1QQcmdZViewItem</B><HR></BLOCKQUOTE>

Am I missing something, or is the claim "CONCESSION STAND FEATURES MODERN EQUIPMENT" seem a little exaggerative considering the calculators, pens, paper, and spray-paint stenciled signage?

[This message has been edited by Cinemateer (edited August 07, 2007).]
"In a place like this, the magic is all around you. The trick is to see it." -Martin Landau
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Re: theaters 4 sale 2007 17 Aug 2007 21:43 #17221

  • jacker5
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I just looked at pictures and noticed what you said. I was cracking up. It made my week. Someone should e-mail them and point that out!
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Re: theaters 4 sale 2007 18 Aug 2007 18:08 #17222

  • Mike
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Act in haste, repent at leisure. Buying or selling a business should never be a abrupt act. In the end, all things pass. ONe of my theatres has been around since 1912 and the other 1919. I view my role as a caretaker. If you have never owned a business, and I have owned or operated nearly 2 dozen,,,,, so far..... it is not like getting or leaving a job. For one thing: you usually do not bring real cash and buy your job and you don't stand to make or lose real cash when you leave it. But in a theatre you will put up as much as hundreds of thousands and when you go, and how you go, there is a lot at stake. Selling a business is an art. I have sold 10. Panic and haste are not an asset that embelish a business.

By the way: I have a lovely theatre for sale.
The Temple Theatre in beautiful Houlton, Maine Why? 152 miles away from my dooryard is why. http://templemovies.com/interior_pages/temple_for_sale.html


Be sure you take the 360 virtual tour as it is was cool!

We currently have a contract to build a 32 unit senior housing at the rear of our parking lot so we have reduced the sale price to 395,000.00.



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[This message has been edited by Mike (edited August 18, 2007).]
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Re: theaters 4 sale 2007 18 Aug 2007 18:55 #17223

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nice drive in for sale "on eBay"!

Michael Hurley
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Re: theaters 4 sale 2007 15 Sep 2007 18:15 #17224

  • jacker5
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HOOPESTON, IL — The classic Lorraine Theatre is for sale in the wonderful city of Hoopeston. You get all equipment, real estate and staff if you wish! It is truly a turn key operation. Call (262)853-4338 for details. Don’t let this theater slip by. Asking $189,000.
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Re: theaters 4 sale 2007 15 Sep 2007 18:18 #17225

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Here is 2 more!


INGLEWOOD, CA — The Fox Theatre is for sale at $1,800,000. At this writing, the following is posted on the commercial real estate website Loopnet

Property Use Type: Investment
Primary Type: Retail
Street Retail
Building Size: 12,090 SF
Lot Size: 0.25 Acres
Price: $1,800,000
Price/SF: $148.88
Year Built: 1949
Date Last Verified: 8/30/2007
Property ID: 14913144
Want to build or start from scratch? Buy it all in one package. A 6-screen theatre complete. $1.4mm original equipment cost.

Approximately 850 like new blue seats (4 theatres recliner w/headrests, some loveseats) and all projection, sound, platter and concession equipment less than 5 full years of use. Building was demised by landlord but will sell package from well organized warehouse. We even have the toilets, sinks, stalls and electrical boxes. Pretty much everything but the 4 walls. Saved atrium glass as well.

Will sell only as a package. Serious inquiries only to Bill at 317-280-1951.

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Re: theaters 4 sale 2007 17 Sep 2007 00:28 #17226

  • jacker5
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Any listings for theatres for sale in Pa.?
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