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2430 Chillum Road

HYATTSVILLE, MD 20782
  • $1,945,000
  • STATUS: Active
  • ON SITE: 126 Days
  • ID#: MDPG2006160
$1,945,000
  • 0
    BEDS
  • 0.43
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Business Opportunity
Built:
1956
County:

School Ratings & Info

Description

Mustangs, a bar, food and adult entertainment business established in 1980, is now available for sale due to owner retirement. What makes this opportunity unique is it+GGs one of only two adult entertainment businesses+GGwith a liquor license+GGallowed in the county. The business is being sold with the real estate, which has significant underlying land value due to its proximity to the West Hyattsville Metro. The business has consistently generated strong net income for current long-time owners. Mustangs closed during the height of the pandemic for 15 months but recently re-opened and is now getting back to pre-pandemic income levels.Mustangs is run by a manager and a small staff, with only minor oversight required by ownership. Security cameras are in place to monitor operations. Current ownership willing to consult with new owner for one month after closing to ensure smooth transition.This is truly a value-add opportunity as a new owner can continue to run business knowing land value will grow over time, providing a future exit strategy, if desired.

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©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Debbie Jett | Virginia CU Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-12-02T23:51:59.693.
www.debbiejett.com/homes/119862050
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2430 Chillum Road HYATTSVILLE, MD 20782

  • Price: $1,945,000
  • Status: Active
  • On Site: 126 Days
  • ID#: MDPG2006160
0
Beds
0
Baths
0
½ Baths
0.43
Acres
1956
Built
County:
Prince Georges
School District:
Prince George's County Public Schools
Property Description
Mustangs, a bar, food and adult entertainment business established in 1980, is now available for sale due to owner retirement. What makes this opportunity unique is it+GGs one of only two adult entertainment businesses+GGwith a liquor license+GGallowed in the county. The business is being sold with the real estate, which has significant underlying land value due to its proximity to the West Hyattsville Metro. The business has consistently generated strong net income for current long-time owners. Mustangs closed during the height of the pandemic for 15 months but recently re-opened and is now getting back to pre-pandemic income levels.Mustangs is run by a manager and a small staff, with only minor oversight required by ownership. Security cameras are in place to monitor operations. Current ownership willing to consult with new owner for one month after closing to ensure smooth transition.This is truly a value-add opportunity as a new owner can continue to run business knowing land value will grow over time, providing a future exit strategy, if desired.
Exterior Features

Construction Materials Block Garage YN No Parking Types Parking Lot Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Building Area Total 3428.00 Heating Other Heating YN Yes

Property Features

Accessibility Features Other Assessment Year 2021 Association YN No Business Name Mustangs Business Type Restaurant/Bar Central Air YN No Current Use Bar Heating Fuel Other Hot Water Other Navigable Water YN N New Construction YN No Original MLSNumber 800906477142 Ownership Interest Other Possession Coin W/Sell Sett Property Sub Type Retail Sale Type Standard Sewer Public Sewer Tax Annual Amount 9683.00 Tax Assessment Amount 607800.00 Vacation Rental YN No Water Source Public Zoning Csc

Listing courtesy of Capital Realty Advisors.


©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Debbie Jett | Virginia CU Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-12-02T23:51:59.693.
 
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Debbie Jett | Virginia CU Realty
4531 Spotsylvania Parkway
Fredericksburg VA, 22408