Coglin’s Retro Bar Business for Sale!!
Wilmington’s only 80s/90s bar is now available for sale! This lively bar and music hall transports one back to a time when you would meet up after work with your friends and enjoy a night of dancing and great drinks. From the Motown sounds to the B-52’s the music in Coglin’s transports you to another time.
Located in the heart of vibrant Historic Downtown Wilmington at the intersection of Market and 2nd…..just a short walk to the nationally recognized Riverwalk. Extensive parking available just across the street. This club features a street-level 400+ sf VIP lounge which can be used for private parties, green-room for featured artists, etc. The 4992sf lounge located on the second floor is accessible by stairs or elevator. The upper level features a massive bar, large dance floor and a 378sf raised platform that would make an ideal stage for live performances. The upper level includes a 620 sf covered outdoor space with additional bar.
One point to remember, the Buyer has the option to maintain the existing 80s/90s model or transition the business to other genres such as; country music hall, jazz & blues, etc. The Buyer would just need to make cosmetic adjustments to the facility to accomplish the transition. Another important fact that should be considered by potential Buyers is there are currently no mid-sized, indoor live music performance halls that can host shows for local and regional bands, or the bands traveling I-95 to other destinations.
To learn more about this exclusive offering, contact us to discuss and explore the possibilities that await. All interested parties must sign a Non-Disclosure Agreement and be financially able to fund the purchase by showing proof of funds within their personal financial statement.
Employees:
11
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
All furniture, fixtures and equipment to convey in the sale. Located in what is considered to be a “new” building in Downtown Wilmington. Convenient parking 3 bars, fully equipped Large restrooms – 6 stalls each
Competition:
Though Downtown Wilmington has more than their share of bars, only a very limited number of them offer the opportunity to dance. Especially for those of us over 30 who enjoy dancing to songs that we know the words to. In addition, the property is ideally suited for use by the vibrant Wilmington film industry. The high ceilings and open span floorplan make it very desirable to film location crews. It is well known that Wilmington is a wedding destination and many wedding parties make their way to Coglin’s after rehearsal parties or the wedding reception
Growth & Expansion:
With the tremendous population growth of the Wilmington MSA, the demand for entertainment options is increasing. Many residents have relocated here from larger metro areas that have much to offer in that respect, thus, being one of the few dance venues offering live music/or DJ’s puts this business in the right position to increase revenue and profitablity.
Support & Training:
Seller will be open to a transition period to meet the Buyers needs.
Reason for Selling:
Sellers are involved in severval new projects and need to focus on