Twin for sale – reduced again to $285,000

posted by ForSale on July 21, 2009 at 7:40 am


The Gentry Cinema is for sale
Price reduced again… to $285,000

This theater has now been listed with a realtor, and based on his advice the price has been reduced yet again.

Closed in 1996, it was re-opened it in Dec. 2008 after twinning and renovation. All new: facade and building exterior, windows and doors, plumbing, restrooms, electrical system, heat and air system and ductwork, fire sprinkler system, insulation in attic and walls, marquee, draperies, screens, sound. Replaced and upgraded projectors and added platters. Installed like-new seats. New concession counter with enough equipment for a small restaurant. Tables and seating for 20 in concession area. Currently have food license. Serving some hot food. Could serve more. Showing first run films. Located in market area of 20,000 people. Competition is over 20 miles away.

Owner is undercapitalized after remodel. $285,000 includes land, building, equipment, and business.

This is the only movie theater in the county, which has a population of about 20,000 people. This two screen movie theater has a great downtown location in the center of town. Parking is plentiful. There is lots of on-street parking and also a city parking lot at the rear of the theater. The downtown area is listed on the register of historic places as a historic district. All our business neighbors are friendly, helpful, and supportive. The city leaders and the townspeople love having the theater in town. This is the kind of town where you can really become a valued part of the community as a small business owner. One former owner of the theater was once the town mayor. I am often surprised at how many people recognize me when I’m out and about town. Many people speak to me about the theater and are just genuinely friendly.

One of the great things about living here is realizing just how far your money will go. The cost of living is much lower than many other parts of the country. According to Sperling’s, the cost of living here is 26% lower than the national average. Property tax on the theater is only a little over $200 per year. Theater utilities average $300 per month or less (estimated). Workers are part-time and earn minimum wage. There is no shortage of applicants to work at one of the coolest places in town. Living here and running a business here comes at a bargain rate.

The town is the economic center of the county, especially since we now have a new Wal-Mart Supercenter. There is no other Wal-Mart (or similar competitor) in the county. That means that people come to our town all the time to shop. The town is located at the crossroads of an Interstate Highway and a controlled access U.S. Highway that has just as much traffic as the interstate. We are only a few miles from the largest lake in the state and a state park. The lake draws lots of weekend and seasonal visitors/vacationers. It has some of the best fishing around, as well as lots of space for boating, skiing, and other water activities. If you are a boater, there are some very nice marinas where you can dock your boat. Or if you just enjoy the water, this lake is a wonderful place to be. The whole area is green and beautiful. The schools have strong academic and sports programs. Our football team was undefeated until late in the playoffs last year. The town is not too far from larger population centers which offer more shopping, eating, and cultural experiences. You can find just about anything there that you might want.

If you buy this business, you get not only the business, but also the land, building, and equipment. Here is a list of equipment and fixtures (Some items may have been inadvertently omitted):

  1. 2 Simplex 35 projectores with Simplex soundheads and Strong Super Lumex lamphouses (on pedestals)
  2. 2 Strong Xenon power supplies
  3. 2 Christie AW3 Platters w/Christie rewind bench
  4. 2 Xetron Automation Systems
  5. GoldE rewinder
  6. 6 QSC Amps
  7. 2 Booth Monitors
  8. 2 Dolby model CP55 cinema sound processors
  9. Viewsonic PJ559D projector
  10. Magnavox DVD player
  11. 164+ Irwin Marquee seats
  12. film splicer
  13. 23 foot by 10 foot screen with wooden screen frame, also 12 foot by 6 foot screen
  14. 2 sets moveable screen masking
  15. 14 Sony speakers – 150 watt
  16. 3 large Peavey speakers with horns (wattage unknown)
  17. approx. 400 yards (numerous panels) Royal Blue inherently fire retardant draperies with an additional approx 150 yards fabric for later replacement if necessary.
  18. V-shaped marquee on front of building
  19. 3 lighted poster cases on front of building
  20. Vulcan Flashbake Oven – single phase
  21. Emerson microwave oven
  22. Scotsman Prodigy all-in-one Ice Maker – medium cube (rated at about 150 lbs/day under optimal conditions)
  23. Gold Medal Butter Dispenser
  24. Arctic Air Commercial Refrigerator (approx 20 cu. ft.)
  25. Alto Shaam Double Cook and Hold Oven – model 1000-TH-1
  26. Kloppenberg Ice Bin (on wheels)
  27. Whirlpool Chest Freezer (approx 15 cu. ft.)
  28. 2 Sharp Cash Registers – model XE-A102
  29. Gold Medal 16 oz. Popcorn Popper – model 1617TS with warming racks and neon popcorn sign
  30. Stainless Steel 3 compartment sink
  31. Handwashing sink (in concession area)
  32. 6 head soda fountain (on loan from bottler)
  33. 5 four-person tables with 20 padded chairs
  34. Shop-Vac
  35. upright Bissell bagless vacuum cleaner
  36. phone with answering machine
  37. Canon fax machine
  38. desktop computer system
  39. desk
  40. water fountain
  41. 3 toilets
  42. urinal
  43. 3 lavatories
  44. mop sink
  45. 50 gallon electric hot water heater
  46. 3 five ton American Standard central heat (natural gas) and air conditioning systems
  47. one 2.5 ton American Standard central electric heat pump system
  48. 600 amp electrical distribution panel
  49. three 200 amp electrical panels
  50. 500 watt low voltage lighting transformer
  51. fire sprinkler system with air compressor and valves and controls to make it a dry sprinkler system
  52. new concession counters/cabinets
  53. other cabinets, lockers, etc.

We will also provide 2 weeks on-site training if needed in the operation of the business and the equipment. Then we will provide additional guidance as needed for 2 months by phone.

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