Moonshine Theatre up for auction

posted by MoonshineTheatre on October 11, 2010 at 7:41 am

SCRANTON, PA — For Full Details & Photos see: Auction Page

Immediate Sale Ordered
Prime Location in Heart of Downtown, Tax-Free Business Location
Liquor License Additionally Available in Conjunction w/ Building or Individually
Photo Galleries [+]
Documents [+]
Moonshine Theatre – Past, Present & Future Potential

Live On-Site Auction
Begins: Thursday, November 11, 2010 at 1:00 PM EST
Location: 335-337-339 Adams Avenue, Scranton, PA 18503

Immediate Sale Ordered via Public Auction

The Moonshine Theatre

20,000+ Sq Ft Downtown Theatre & Retail Building + Liquor License

Prime Location in Heart of Downtown – Tax-Free Business Location (KOZ)

Details:

335-337-339 Adams Avenue, Scranton, Pennsylvania 18503
Rare Opportunity to Own the Most Unique, Fully Restored Property in Downtown Scranton
Located Behind City Hall and Half Block to Court House Square
2.5 Miles to Four College Campuses w/ 12,000+ Students (Adjacent to Scranton University)
Appraisal/Valuation: Potential First Year Operating Profit for Entire Facility of $5,000,000 (Details Available Upon Request)
Largest First Floor Retail Space Available in Downtown Scranton: 9,720 Sq Ft
Theatre has Capacity for Approx 1,200+ Occupants (Including 180+ Seat Balcony)
Liquor License: The Entire Building is Licensed to Serve Liquor (Ideal Multiple Bar/Restaurant Venue)
Liquor License Available Separately from or with the Building
Tax Free Business Location (KOZ/KOEZ): Exempt from City, State, Mercantile, Property and Sales Tax Until 2013 (May then be Extended)
New 400 Amp 3 Phase Industrial Electrical Service and Feeds to Theatre
Multi-Level Parking Garage Half a Block Away
1,000+ Municipal Parking Garage Spaces w/in Two Block Radius
Lot Size: 9,720 Sq Ft (60' x 162')
Building Size: 20,540 Sq Ft + 9,720 Sq Ft Basement
Three Story Brick & Steel Building
First Floor:
9,720 Sq Ft Divided into (4) Spaces:
(3) Identical 2,000 Sq Ft (20' x 100' Rooms) w/ Street Frontage (Contiguous & Interconnected)
(1) Rear of Building 3,000 Sq Ft (50' x 60' Room) w/ Open Loading Dock
Tremendous Retail Potential
Second Floor:
9,720 Sq Ft Comprised of:
6,000 Sq Ft (60' x 100') Theatre/Auditorium
21' Ceilings
150-200 Seat Balcony
Proscenium Stage
New 400 Amp 3 Phase Industrial Electrical Service and Feeds to Theatre
100 Amp Stage Side Disconnect
3,720 Sq Ft (Balance of Second Floor):
Direct Entrance Upstairs from Street
Large Foyer
Magnificent Antique Bar Room
(3) Lounges Overlooking Main Street & Front of Building
Third Floor:
1,100 Sq Ft Fully Restored Penthouse Apartment
2 Bedrooms, Den & 1 Bath
Huge, Fully Equipped Eat-in-Kitchen
19th Century Vulcan Cast Iron Commercial Oven
Walk out to Roof
Lower Level:
9,720 Sq Ft & Unfinished
Full Height Ceilings & Concrete Floors
Additional Information:
Originally Built as Opera House in Late 1800's
Newer Rubber Roof (10 Years Old)
15 Ton HVAC Unit for Auditorium on Roof
Building and Liquor License will be Offered for Auction Individually and in Bulk, Selling Whichever way realizes the Greatest Amount
Property APN # 15628010012
Please Download Additional Information under “Documents” tab Above
Annual Real Estate Taxes: $0 (Tax Free Status)
Up to 50% Financing Available to Qualified Bidders (Call 516.349.7022 for Details)
Please See “Documents” Tab for Additional Information on Property and Market
Suggested Opening Bid (Building & Liquor License): $450,000

Inspections/Viewings: Mondays, November 1st & 8th; 10:00 am – 1:00 pm.

Auction Date & Time: Thursday, November 11, 2010 at 1:00 pm. Registration begins one hour prior at 12:00 noon.

Auction Location: Sells on location at 335-337-339 Adams Avenue, Scranton, Pennsylvania 18503.

Terms & Conditions of Sale (Real Property): Sold free & clear of all liens, claims & encumbrances. In order to register to bid, all prospective bidders must present a certified check in the amount of $45,000 made payable to “David R. Maltz & Co., Inc.” ($55,000 Certified Check Required to Bid on Liquor License and Property in Bulk). Closing must occur within 45 days after the auction. Successful Bidder shall be granted a 30-day extension to close if he/she posts an additional non-refundable 10% deposit. Subject to sale prior to auction as pre-auction offers will be considered. Please download the complete Terms and Conditions of Sale.

Terms & Conditions of Sale (Liquor License): Sold free & clear of all liens, claims & encumbrances. In order to register to bid, all prospective bidders must present a certified check in the amount of $10,000 made payable to “David R. Maltz & Co., Inc.”. Closing must occur within 15 days of approval from the Liquor Control Board. Please download the complete Terms and Conditions of Sale.

Buyer’s Premium: An eight percent (8%) Buyer’s Premium will be added to the successful bidder’s high bid to determine the contract price to be paid by the purchaser.

Buyer Broker Participation (Real Property): A two percent (2%) commission will be paid to any properly licensed Buyer Broker who registers a successful buyer in accordance with the Buyer Broker guidelines. Please download the Broker Participation form for details.

For Auction Information Please Contact Richard Maltz at:
Phone (516) 349-7022 Fax (516) 349-0105
Bill Howze, PA Auction License # AU005050

This property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller, Auction Company or any of their Agents. The information contained herein was derived from sources deemed reliable, but is not guaranteed. Most of the information provided has been obtained from third party sources and has not been independently verified. It is the responsibility of the Buyer and/or Buyer’s Broker to determine the accuracy of all measurements and specifications of the property. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property, including without limitation, environmental and physical condition of the property. All prospective bidders are urged to conduct their own due diligence prior to participating in the Public Auction Sale.

Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.