Roadrunner is SAVED!!!!- new owner

[Riverbottom]

Again,disposable $$$$. Purchase will prove to be extremely long term investment for generations of a family or several families many of you guys have known on the strip for years. Would not be surprised plans for Badenoch next up.

Badenoch's is on Indian land. They wouldn't even renew the Herricks lease.

 

[Outdrive1]

Again,disposable $$$$. Purchase will prove to be extremely long term investment for generations of a family or several families many of you guys have known on the strip for years. Would not be surprised plans for Badenoch next up.

Badenochs is on Indian Land. They tore out some of the buildings. It’s never coming back. I’m surprised they haven’t bulldozed what was left like they do all the other vacant properties. Indians already have the Cantina 1/2 south that just opened back up.

 

[RVR SWPR]

Damn shame this place closed. I had no idea i was standing in Lynch’s yard when taking pic years ago now.

 

[Deckin Around]

I looked it up 37 mobile sites listed at $650 a month that's 24k a month.
Any idea of there monthly rent on the mobiles? It says 37 sites. At $650 a month that's 24k.

Well now that I look at it..., with a 30yr $5.5 million loan around 5%, that covers a lot of the monthly. I'm not sure that loan is possible with $1mil down. Seems to have great roi potential when you add in the bar, mobile rentals and restaurant. Just need another $2-3mil to put into it lol

 

[NicPaus]

Well now that I look at it..., with a 30yr $5.5 million loan around 5%, that covers a lot of the monthly. I'm not sure that loan is possible with $1mil down. Seems to have great roi potential when you add in the bar, mobile rentals and restaurant. Just need another $2-3mil to put into it lol

If it's the Buyer I know. I am sure it pencils out. Not sure what the plan is but it will make Him money.

 

[RogerThat99]

I whipped up a rendering of the condos. View attachment 1145358

Do you mind if I post your pic on my buddies FB thread about it?

 

[SoCalDave]

Unless you have inside information, you won't see the sale price until it closes escrow. All properties in escrow show Pending, and the price it was listed at.

That's what I'm saying, RD ain't sayin shit until it closes...

 

[overdue]

watch for 15$ drinks and $40 specialty (road raper) and 20$ quesadillas and $30 burger and fries now

And 10$ cover charge to tie up at dock , 15$ for valet ,,,

 

[King295]

Do you mind if I post your pic on my buddies FB thread about it?

And that's how you now @RogerThat99 is a photog.

 

[brgrcru]

Well now that I look at it..., with a 30yr $5.5 million loan around 5%, that covers a lot of the monthly. I'm not sure that loan is possible with $1mil down. Seems to have great roi potential when you add in the bar, mobile rentals and restaurant. Just need another $2-3mil to put into it lol

just add rack storage on the list.
Parker will get rack storage, before havazoo. lol

 

[SKIDMARC]

Great news!!! Hopefully they remodel the bathrooms. The have always been the absolute worst on the strip.

 

[havabrew]

Does it include all of this ?

 

[NicPaus]

Does it include all of this ?
View attachment 1145467

No. Just shy of 125,000 sq ft. The pic you posted is part of la Paz.

 

[Fastdadtsmith]

Damn shame this place closed. I had no idea i was standing in Lynch’s yard when taking pic years ago now.
View attachment 1145413

Look at that'toon. Way ahead of it's time.

 

[Marios Metalworks]

Does deeded land come with any type of water rights?

 

[Mcintyrelocal]

Single home undeveloped riverfront lots are more than a million dollars today. That’s a pretty big piece of property. Plus it has a liquor license.

The Liquor License is probably worth a million.

 

[RogerThat99]

And that's how you now @RogerThat99 is a photog.

And here I thought it was just common sense. LOL. Thanks.

 

[mjc]

No. Just shy of 125,000 sq ft. The pic you posted is part of la Paz.

Does it include the storage next to the road in or just bar and rv park?

 

[Havasu blue label]

For the first time there is a partial that is leased son

 

[Outdrive1]

Breakfast was good this morning.

 

[Groper]

Well now that I look at it..., with a 30yr $5.5 million loan around 5%, that covers a lot of the monthly. I'm not sure that loan is possible with $1mil down. Seems to have great roi potential when you add in the bar, mobile rentals and restaurant. Just need another $2-3mil to put into it lol

Without seeing any numbers and with pure speculation IMO it still won't pencil out for me anyway and I'm not waiting 25-30+yrs on a ROI for my kids to spend lol.
A 30yr on that loan amount is about $27-$29k a month w/ P&I excluding insurance.
The property Taxes will be a few grand a mo.
I can't even imagine what the Liability Insurance is a month for the BAR, but it has to be a few grand.
The RV Park might be a separate entity IDK but it should be there's another $1k.
Throw in maintenance if any or maybe the NEW owner(s) will lol add another couple grand and your north of $40k+ in expenses.
Yes the Bar makes cash for a few summer months and I would guess not so much to very little during the off season cuz Blue hairs are CHEAP lol.

I do hope it all works out and RR remains what it is because I don't of anyone that's ever had a bad time at RR

 

[Gonefishin5555]

Without seeing any numbers and with pure speculation IMO it still won't pencil out for me anyway and I'm not waiting 25-30+yrs on a ROI for my kids to spend lol.
A 30yr on that loan amount is about $27-$29k a month w/ P&I excluding insurance.
The property Taxes will be a few grand a mo.
I can't even imagine what the Liability Insurance is a month for the BAR, but it has to be a few grand.
The RV Park might be a separate entity IDK but it should be there's another $1k.
Throw in maintenance if any or maybe the NEW owner(s) will lol add another couple grand and your north of $40k+ in expenses.
Yes the Bar makes cash for a few summer months and I would guess not so much to very little during the off season cuz Blue hairs are CHEAP lol.

I do hope it all works out and RR remains what it is because I don't of anyone that's ever had a bad time at RR

my guess is they arent getting that close to the asking price and 30% down So loan amount 3.5-4M and that thing has to be a cash cow certain months of the year. I’m sure it pencils out except how much fix up costs are they gonna spend?

 

[EarpRider]

my guess is they arent getting that close to the asking price and 30% down So loan amount 3.5-4M and that thing has to be a cash cow certain months of the year. I’m sure it pencils out except how much fix up costs are they gonna spend?

Snowbirds love that place, it's always busy in the winter starting around 3:00PM. Assuming they still have food.

 

[NicPaus]

Snowbirds love that place, it's always busy in the winter starting around 3:00PM. Assuming they still have food.

Especially when it's $1 tacos. Pretty sure they cater to them like our park. They will make it 1-$2 beers to get them in. Then stick us for $4 a beer.

 

[Singleton]

my guess is they arent getting that close to the asking price and 30% down So loan amount 3.5-4M and that thing has to be a cash cow certain months of the year. I’m sure it pencils out except how much fix up costs are they gonna spend?

define cash cows? Bars and restaurants are not the cash cows most folks think. The profit margins are usually between 10-15% without a purchase loan involved.

 

[Gonefishin5555]

30-40k+ cash flow a month. I have a dive bar client makes about 500k a year for two owners. That’s more like 20% profit more liquor than food I guess. That’s cash flow after making a rent payment of 8-10k a month also.

 

[Icky]

Where's the suggestion box? We need to bring prime rib tacos back on Mondays......it always gave us an excuse to stay an extra day.

Maybe set up a big BBQ on the dock like Sundance had 20 years ago.

 

[Orange Juice]

I'm happy if it stays.

With that said does the price point even come close to making sense?

I just can't wrap my head around nearly 7 million. What all is included for that price? Is it deeded or lease land?

$20 beers? $20 shots?

 

[Outdrive1]

$20 beers? $20 shots?

Yeah right. This isn’t a Vegas night club. Lol

 

[bonesfab]

500.00 bottle service coming soon to your private 2000.00 a day beach front cabana. Cabana babe not included.

 

[attitude]

500.00 bottle service coming soon to your private 2000.00 a day beach front cabana. Cabana babe not included.

Eh, that’s just a couple of stimy checks!

 

[brgrcru]

Cash cows went away when everything went on credit and debit cards.
When everyone started using points to get rich .

 

[Singleton]

30-40k+ cash flow a month. I have a dive bar client makes about 500k a year for two owners. That’s more like 20% profit more liquor than food I guess. That’s cash flow after making a rent payment of 8-10k a month also.

Bar and grills can make money when they have 12 months of consistent business. Most Parker establishments don’t have that.

 

[530RL]

Anyone know how to make a small fortune in the seasonal bar and restaurant business?

 

[Singleton]

Anyone know how to make a small fortune in the seasonal bar and restaurant business?

Just like boat building - start with a large fortune

 

[El Rojo]

Anyone know how to make a small fortune in the seasonal bar and restaurant business?

Start with a large fortune lol...

 

[Riverbottom]

Bar and grills can make money when they have 12 months of consistent business. Most Parker establishments don’t have that.

You need to make enough Oct. through April to carry you through the summer months in Parker.

 

[Icky]

Anyone know how to make a small fortune in the seasonal bar and restaurant business?

Call the guy from Bar Rescue?

 

[hman442]

Call the guy from Bar Rescue?

The loud mouthed turtle shaped guy ?

 

[EarpRider]

Bar and grills can make money when they have 12 months of consistent business. Most Parker establishments don’t have that.

True, but for Parker businesses Roadrunner does pretty dam good year round.

 

[brgrcru]

Anyone know how to make a small fortune in the seasonal bar and restaurant business?

Just like trucking
You know how to make a million bucks in trucking ? Start with 2 million

 

[Icky]

The loud mouthed turtle shaped guy ?

I dunno, I've only been forced to watch it once or twice

 

[CarolynandBob]

Anyone here bought and renovated a bar, then operated it? I haven't and I am sure most here haven't, so we don't know what it will cost or earn. I know this is RDP , so we don't need facts.

I am ASSUMING that who ever is buying has some experience in doing this. IF it sold for 5-6 mil then who ever is buying it must have been smart enough to earn that money. (unless lottery or inheritance) If they are getting a loan, that bank is going to want collateral and a business/ renovation plan.

I think it is good and will work out. Yes I am sure the prices will go up, but if it is out of line with the area it will probably fail. Who knows but it will be fun to watch.

 

[MPHSystems]

I'd like to know how or what calculator they used to make the numbers work ?

The only way I see it making sense is someone who wants their own bar on the strip who has enough fuck you money to make it happen.
So, yea, in that scenario it works. Godddanm, I love capitalism!

 

[whiteworks]

Who says there is a loan needed or in place for this property?

Chances are good that there is a tax strategy in place behind this acquisition that makes plenty of financial sense.

Let’s look at the sellers side first and what’s actually happening. Capital gains tax on the proceeds of a sale come in at 23.8%, let’s assume they paid almost nothing for the property 40 years ago, they have just created a $6.6M taxable event for themselves. That’s a $1.6M tax bill if they want to walk with $5M free and clear to piss away on whatever they choose. If they decide they don’t want to pay the $1.6M tax bill, they could use the 1031 exchange process and purchase a new like for like property for the full $6.6M and defer that tax bill until they sell the new property, lather, rinse, repeat.

Using the above information about tax strategies, the new buyer is most likely in a position where tieing up $6.6M is going to save them $1.6M tax liability of their own. Since this is not raw land, but an actual income producing property, tuning up revenue streams would be advantageous to them as they now look to generate income on their $6.6M investment beyond the initial tax savings and long term real estate value appreciation.

I’d be interested to see the projected cap rate for this property, as well what income could actually be squeezed out of this place once they tune it up.

Just my guess, but as @Outdrive1 stated this is lease land and they make a good breakfast so who knows

 

[hman442]

The only way I see it making sense is someone who wants their own bar on the strip who has enough fuck you money to make it happen.
So, yea, in that scenario it works. Godddanm, I love capitalism!

Likely will be a money laundering operation for the cartel

 

[Happy Smitty]

watch for 15$ drinks and $40 specialty (road raper) and 20$ quesadillas and $30 burger and fries now

I don't mind paying a little more if it means they can have a normal restroom that's even just moderately clean.

 

[brgrcru]

Anyone here bought and renovated a bar, then operated it? I haven't and I am sure most here haven't, so we don't know what it will cost or earn. I know this is RDP , so we don't need facts.

I am ASSUMING that who ever is buying has some experience in doing this. IF it sold for 5-6 mil then who ever is buying it must have been smart enough to earn that money. (unless lottery or inheritance) If they are getting a loan, that bank is going to want collateral and a business/ renovation plan.

I think it is good and will work out. Yes I am sure the prices will go up, but if it is out of line with the area it will probably fail. Who knows but it will be fun to watch.

Yes

 

[Riverbottom]

Who says there is a loan needed or in place for this property?

Chances are good that there is a tax strategy in place behind this acquisition that makes plenty of financial sense.

Let’s look at the sellers side first and what’s actually happening. Capital gains tax on the proceeds of a sale come in at 23.8%, let’s assume they paid almost nothing for the property 40 years ago, they have just created a $6.6M taxable event for themselves. That’s a $1.6M tax bill if they want to walk with $5M free and clear to piss away on whatever they choose. If they decide they don’t want to pay the $1.6M tax bill, they could use the 1031 exchange process and purchase a new like for like property for the full $6.6M and defer that tax bill until they sell the new property, lather, rinse, repeat.

Using the above information about tax strategies, the new buyer is most likely in a position where tieing up $6.6M is going to save them $1.6M tax liability of their own. Since this is not raw land, but an actual income producing property, tuning up revenue streams would be advantageous to them as they now look to generate income on their $6.6M investment beyond the initial tax savings and long term real estate value appreciation.

I’d be interested to see the projected cap rate for this property, as well what income could actually be squeezed out of this place once they tune it up.

Just my guess, but as @Outdrive1 stated this is lease land and they make a good breakfast so who knows

Current property owner paid around 3.5 million about fifteen years ago if I remember correctly. My neighbor sold it at that time.

 

[Outdrive1]

It’s supposed to close at the end of the month. We will all know what it sold for then. I heard they had three really good offers prior to this one. This one had to be north of 6 I’m guessing.

The dock bar is going to be at least 500k to rebuild imo.

A lot of money for leased land.