Branson Events Center. Real Estate Sales Brochure

Transcription

1 Branson Events Center Real Estate Sales Brochure

2 Pertinent Information Address: 2527 State Highway 248, Branson, Missouri Sales Price: $6,000,000 Property: Live Entertainment Center with 113,118 sq. ft. building. Consists of 78,395 sq. ft. main level; 30,511 sq. ft. basement and 4,282 sq. ft. upper level (office area). Auditorium seating capacity: 2,634. Building sits on acres which allows for future expansion. Property is located on State Highway 248 approximately 1,400 linear feet north of Hwy. 248/Shepherd of the Hills Expressway intersection in Branson, Missouri. Property is zoned commercial and is ADA accessible. Includes ample paved parking. Real Estate Taxes (Taney County): 2013 taxes were $108,000 Utilities: Water: Taney County District #3 Sewer: City of Branson Electric: Empire District Electric Auditorium: Features a large 4,945 sq. ft. stage with water curtain plus 12 dressing rooms. Lobby: Features 20,000 square feet with concession area. Main entries have 25 ceilings while the rest has 11 3 ceilings. Reception capacity: 1,540. Backstage Area: includes a 3BR private living area with full kitchen; elevated loading dock and a 7,500 sq. ft. rehearsal hall with stage.

3 Main Level Floor Plan

4 Main Level Floor Plan Specifications Auditorium: 2,634 seats Proscanium stage Width 85 feet Height 30 feet 4,945 sq. ft. stage Stage thrust 13.7 feet Water curtain 12 dressing rooms Hair & makeup salon Lobby: 20,000 square feet 11 3 ceilings 25 ceiling in main entries Concession area Reception capacity 1,540 Banquet seating 640 Gift Shop: 3,081 square feet 9 3 ceiling Reception capacity 300 Banquet seating 120 Classroom seating 150 Side Room: 1,350 square feet 9 10 ceiling Reception capacity 135 Banquet seating 48 Classroom seating 65 Upper Level Office Area: 4,282 square feet 10 offices Reception area Hall: 7,500 square feet 13 ceiling with 20 ceiling in the center Reception capacity 750 Banquet seating 300 Classroom seating 375 Lower Level: 30,511 square feet

5 Neighborhood Data The subject property is located on Highway 248 approximately ¼ mile north of the intersection with Shepherd of the Hills Expressway. Highway 248 is the primary collector route between Highway 65 (to the east) and the Branson Meadows project located just south and west of the subject tract. The neighborhood is predominantly occupied with commercial enterprises along the highway frontage. Uses in the immediate neighborhood include several retail establishments, fast food restaurants, office facilities, and two live music theatres. Specific uses within ¼ mile of the subject include a K-Mart, Staples, and the Factory Stores at Branson Meadows (a large outlet mall). from June 2014 appraisal

6 Site Data Physical Characteristics: According to the Taney County Assessor, the subject site contains approximately acres +/-. The tract is located approximately 1,400 linear feet north of the Highway 248 and Shepherd of the Hills Expressway intersection and enjoys approximately 583 linear feet of frontage along the west side of Highway 248. The tract also enjoys frontage along the north side of Dawn Road, which borders the tract to the south. from June 2014 appraisal

7 Description of Improvements The facility was originally constructed in 1994 as a live performance theatre for Mel Tillis and Mr. Tillis gave his first performance on April 19, The reported total construction time from start to finish was approximately eight months with final cost of almost $17 million. Reports state that originally the project had a construction price tag of approximately $9 million. The owners at that time indicate that over runs occurred due to information provided by the general contractor that was not true, a lack of finished plans and specifications when the job began, overtime labor to meet a rigid completion date, and a general lack of communication from all parties. The subject construction is considered to be a more modern style theatre and contains state of the art material, equipment; including sound and lighting, heating and cooling, and overall finish material. There is approximately 16,320 square feet +/- of unfinished basement area located below the apartment and dressing area that was to be used for a recording studio. There is also a large hall located behind the dressing rooms that contain approximately 8,550 square feet +/-. Per the previous owner, this area was renovated at a cost of approximately $434,000. Originally this area was planned for a TV/ studio staging area. The building is constructed of steel and pre-cast concrete panels and is of a construction type identified in Marshall & Swift as Class C. This high-quality method of construction is generally not found in theatres in this area. This modern style theatre caters to the tourist, providing a pleasing, spacious atmosphere and a high degree of accessibility. Ramps are utilized throughout on the primary floor. There is a sonically-isolated cry room located at the rear of the theatre with a large insulated glass window that allows one to view the show without bothering others should an infant or child decide to cry during a performance. All American with Disabilities Act (ADA) requirements appear to have been met and the building has been inspected for compliance to this 1990 regulation. Continued on following page from June 2014 appraisal

8 The footing and foundation of the building are poured concrete reinforced with steel bars and insulated along the inside of the foundation. The base of the exterior walls are 2.5 feet high precast concrete panels that provide a sill for the red brick or tuxedo gray limestone applied over Celotex insulation boards covering precast reinforced concrete walls. The walls extend up from the sill a height of feet at which point they intersect with a 3 foot overhang aluminum-soffitted mansard roof constructed of Duraflex over a Loadmaster metal deck with either a 12 in 12 or an 8 in 12 pitch. There are numerous roof systems. Loadmaster Composite Steel Roof Deck Systems are utilized in areas in which the roof slopes. This system contains a steel deck supporting a sandwich of Duraflex panels around 2.5 inches of insulation. Non-theatre flat roof sections have a steel deck supporting 4 inches of insulation topped by 2 inch reinforced Elastizell concrete panels. An Epicore acoustical metal deck supports the roof directly above the performance area with sound batt insulation on the interior flutes of the panel. This panel supports 3.5 inches of polystyrene insulation topped by 4 inches of reinforced Elastizell concrete. Sloping roof areas combine these two technologies with Loadmaster on the exterior, the acoustical steel deck on the interior and 3 inches of span-rock gypsum directly above the deck. The roof and columns contain built-in drainage systems that eliminate the need for externally mounted gutter and downspouts. Structural steel provides internal support and load bearing capabilities for the wall and floor system. Steel joists and joist girders also frame the roof. The main floor description is divided into four main areas that include the lobby, the auditorium itself, the backstage area and the newly constructed hall behind the stage. The theatre lobby is accessible through ten pairs of commercial metal-frame pedestrian doors that lead into a spacious lobby. The average width of the lobby is about 35 feet. Two pairs of doors access the lobby on both the northern and southern side of the lobby, and three pairs of doors access the lobby on both the northeast and southeast. These doors open into the lobby and provide access to the ticket windows, the gift shop, the concession stand, which is rectangular in shape and can be accessed on two sides and the two additional areas. The central section of the lobby is occupied by a large gift shop, the seven ticket windows, a group sales office, side room, smaller gift shop, two sets of stairs leading up to the upper level and a flight leading down to the tunnel, and a small office. The largest gift shop is located behind the ticket windows and contains approximately 3,178 square feet +/-. Continued on following page from June 2014 appraisal

9 Main Level Architectural Floor Plan

10 Restroom facilities are provided by two pair of rest rooms located on the north and south sides of the lobby. Each of the men s restroom is equipped with seven toilets, nine urinals, and seven lavatories with soap and paper towel dispensers. Two of the toilets are handicap accessible, as is one of the urinals. Each of the women s restrooms is equipped with sixteen toilets, two of which are handicapped accessible, and seven lavatories. A janitor s closet is situated between the entrances to the rest rooms. A rectangular concession area that can serve patrons on two sides is located centrally between the main auditorium entrances. A pair of storage closets serves the concession area. Four pairs of double doors provide access to the theatre from the lobby. The doors are aligned with the ramps and walkways that effectively divide the rear half of the seating area into three sections. The front half of the theatre is also divided into three sections, but aisles do not align with those in the back half of the theatre. Just inside the rear of the theatre is the previously mentioned cry room. At the center rear of the auditorium is the sound and lighting booth as well as a small office/workroom. All exterior doors, sidewalks, and driveways have been designed to accommodate wheel chairs and walkers. The 21,174 square foot +/- auditorium was designed to seat 2,672 people. Due to the annexation into city limits, 38 seats were removed to become ADA compliant. This left a total of 2,634 seats, representing the fourth largest auditorium in Branson at that time. Seating and floor elevations permit excellent views from every seat to an elevated 4,945 square foot +/- stage area. Access to the dressing rooms, backstage rest rooms, equipment rooms, etc., is rated good. To the west of the stage area is the location of the dressing rooms, restrooms, and make-up rooms, all containing about 3,937 square feet +/-. The apartment includes approximately 4,000 square feet +/-. The apartment consists of a living room, dining room, kitchen, three bedrooms, two and one half baths, storage room and adequate closet areas. The quality of material including the trim work, floor coverings, kitchen cabinets, appliances, etc., is rated very good to excellent. The upper level of the theatre is divided into a small reception area, ten offices, a supply closet, and a pair of employee restrooms. Continued on following page from June 2014 appraisal

11 Large Hall Architectural Floor Plan Stage

12 The lower level is comprised of an eight-foot wide hallway leading from the lobby area to an area beneath the stage that is utilized as storage and mechanical room. The total area beneath the stage and extending south is approximately 8,007 square feet +/- and the area contained in the tunnel ways is approximately 5,704 square feet +/-. There is, at the extreme western part of the building lower level, an unfinished room containing approximately 16,320 square feet +/-. This area was to be finished for a recording studio, but was never completed. A second tunnel extends approximately 330 feet to a 480 square foot +/- detached building, housing the heating and cooling system. Copies of the available floor plans can be found in the addenda of this report. Square footage totals were derived from these plans as well as from previous reports completed by this office as well as other appraisal offices. The square footage totals were assumed to be correct for our purposes; however, verification from the original architect could not be completed. The interior fenestration of the facility is considered good and consists of painted sheetrock walls, sheetrock and drop ceilings and a variety of floor coverings. Some areas of the facility are currently unfinished with the largest area being the below grade square footage. Overall, we conclude that the building has an effective age of approximately 10 years with a remaining economic life of 40 years. Summary: The subject theatre is a more modern design than a majority of comparable use buildings within the subject market. Its traffic flow pattern in the main lobby as well as the spacious staging rooms behind stage are examples of more recent design plans. In general, the facilities are in good overall condition with no obsolescence or deferred maintenance issues noted. Contact Information: C. Craig Richards President and CEO NMLS # S. Business 65 P.O. Box 130 Branson, MO (417) fax: (417) craig.richards@centralbank.net Member FDIC Rick Billington 50 Stonebridge Pkwy, Branson West, MO (cell) from June 2014 appraisal