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Friday, July 11, 2008

King Cobra For Sale

posted by on July 11 at 9:36 AM

Huh.

King Cobra, Seattle’s new rock & roll nightclub and venue is for sale!

King Cobra is a rock & roll club in a great location, next to the Comet Tavern, and across the street from Neumo’s. It has a great sound system, a capacity of 475, and a growing reputation throughout Seattle as a great place to see a live show. We have a waiting list of bands who want to play. And our calendar is currently filling up with more quality shows every day.

King Cobra is currently a venue for live music 3 to 4 nights per week. The remaining 3 or 4 nights can be used for more interactive events that encourage audience participation. These events could include karaoke, rock band contests, game show night, and ssp wrestling. We make good use of the 4 projectors and a flat panel tv.

King Cobra is also open for DANCE CLUB nights, and comes with a complete dance floor lighting system with light jockey computer control system, plus DJ equipment, including Technics Turntables, CDJs, Mixers, and monitors.

The current owners, and some citizens of Seattle, would like to sell King Cobra with it’s current format, including a great calendar of upcoming events, and an all-star cast of employees.

We regret that we are forced to sell King Cobra.

The business is for sale because of these reasons:
1. Personal financial issues
2. Management mistakes
3. Lack of experience
4. Lack of marketing

Details:

1. Lease is 12,912.46 for about 6,000 sq. ft
2. Basement “greenroom” or private party room available at 1869 for 1869 square feet. Stairs lead down directly from stage. And there is a direct entrance to greenroom from 10th Street.
3. There are 2 years on the lease, and a 2 1/2 year extension
4. Currently, drink sales are 50,000 per month, but can be more with proper marketing, and as we book concerts with bigger draw. The previous owner did sales of 80,000.
5. Sales numbers are for drinks and food only, not including ticket sales.
6. We are up to date on all taxes and bills.
7. We have a good reputation with the city, the Liquor Control Board, and the police.

8. Sprinkler system installed throughout the building, including basement

9. Fully equipped kitchen included
10. Breaking news: we are now approved for all-ages concerts (bar with I.D.)

11. Asking price is 425,000

If you are interested, please contact Jamie Garza at jmegarza@yahoo.com

Thank you,
Jamie Garza
Owner
King Cobra

RSS icon Comments

1

(Chop Suey 2? Maybe that one guy on Madison and 14th or wherever won't call to complain anymore.)

Posted by mackro mackro | July 11, 2008 9:57 AM
2

seattle is getting lame real quick.

Posted by kdiddy | July 11, 2008 10:02 AM
3

I got 5 on it...

Posted by C. | July 11, 2008 10:13 AM
4

Finally! My friends and I didn't think it would last until Christmas. Maybe new management will get it right and start booking middle-tier national acts that the closing of the Crocodile left the game wide open for.

Posted by Right on | July 11, 2008 10:23 AM
5

i wannnnnnnnnnt it!

Posted by racheal.huffman | July 11, 2008 10:55 AM
6

I would buy this club in a second and turn back into a 70's style dance club with disco and soul nights. Who wants to jump in with me?

Posted by Pat Les Stache | July 11, 2008 11:46 AM
7

i agree with Pat Lest Stache, maybe it could be a permenant home for Emerald City Soul Club. now where to get a half a mil....

i can understand poor booking, but poor marketing is hard to do; have a couple of drink special nights, have a presence in the stranger, paint seattle with flyers. ebb and flow i suppose.

Posted by hahnsolo | July 11, 2008 4:05 PM
8

@7, you're more talking advertising rather than marketing. And I do think they didn't know how to market the club with a clear vision of what it was going to be. First they said it would book a wide variety of music, then they billed it as a Rock Club... at least they are openly admitting they didn't have the experience and made mistakes. It's a great space for an experienced club manager and booker.

Posted by dan10things | July 13, 2008 3:54 PM
9

A lack of experience may be why the King Cobra has strip club lighting, an excessive number of meatheads working the door/security, and a pronounced lack of urinals. It is not an enjoyable night club.

Posted by Greydon Clark | July 14, 2008 11:01 AM

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