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Rare `Class CN' Live Adult Entertainment Liquor License & Prime Real Estate in D.C. Available Through Live Bankruptcy Auction of 1819 Club on May 18

Monday April 19, 11:44 am ET

ABC Approval for Almost Double Club Seating Already Granted, Upping Revenue Potential; Space for Offices, Condos on Upper Floors

WASHINGTON, April 19 /PRNewswire/ -- A rare opportunity to acquire a Class CN live adult entertainment liquor license and primo piece of D.C. real estate is linked to the May 18 auction of a District of Columbia icon: the 1819 Club.


Well-known as DC's original Gentlemen's Club, the venue will be sold at live auction as an ongoing concern, according to D.C. attorney Bryan Ross, the court-appointed trustee for the club, which filed for Chapter 11 bankruptcy protection earlier this year. The business and licenses are owned by SNOCO Enterprises, Inc. Long-time D.C. resident Nicholas "Nick" Addams is 90 percent owner of the business and sole owner of the real estate.

Located at 18th & M Street Northwest on Dupont Circle South, the club was known as Joanna's until three years ago when Addams changed the name to reflect the actual mailing address: 1819 M Street, N.W. The live auction will be held at this location on Tuesday, May 18 starting at 11:00 a.m., with a 2:00 p.m. hearing scheduled later that day before the U.S. Bankruptcy Court in D.C. to approve the sale.

Open nightly from 6:00 p.m. to 2:00 a.m., the club takes up the first floor of a four-story building. Officially, it seats 75. Addams, however, already has ABC approval to expand the operation to the second floor, nearly doubling the seating capacity.

"The second floor is completely gutted and ready for build-out," according to Addams, who says, "New owners could easily double the gross income for a relatively modest investment. You could add 40 seats in less than 60 days with renovation costs of under $150,000."

Addams also notes that until this past December, the club was open for lunch, something "the new owner could easily restart."

In 1977, Addams bought the club which was known at the time as King Arthur's, reflecting a "Knights of the Round Table" theme that then pervaded this D.C. block. Another similar club called Camelot's, which still operates, is just two doors up. After Addams purchased the club, he immediately renamed it Joanna's in tribute to the club's star dancer. Many old-time patrons still refer to it by this name.

Today the night spot employs 25 and features eight dancers each evening, from "Amy" and "Mya" to "Alexi" and "Champagne." The club has a loyal following of customers ages "21 to 75" and much repeat business according to Addams, who says a visit to the club has become a "rite of passage" for young men, who later choose the club as the site for bachelor parties and other gatherings.

Additionally, there are 27 hotels within a half-mile mile radius of the club, making it convenient for business travelers.

"It's almost unheard of for a Class CN license to become available. In fact, there are only six establishments that have this in all of D.C. Not only is the competition limited for this business, the real estate is incredibly valuable as well," says Stephen Karbelk, AARE, of Tranzon Fox, who will conduct the live auction.

"The new owner or investment group could easily expand the club to the second floor and add office space or condominiums on floors three and four," Karbelk says.

More info at : www.tranzon.com