Sold
Tire & Auto Repair Shop with Rental Income Option! (37796)
Excellent property potential! Situated in Marion County of Florida, this automotive shop specializes in a wide range of repairs for most makes and models of automobiles and light trucks including various domestic and foreign brands. Boasting great reputation and accreditation, the business is AAA-approved and properly experienced, offering quality services for A/C tune-ups, oil changes, engine diagnostics, and transmissions. 2021’s sales were $786,185 with over $174,572 in SDCF. The repair shop facility measures 5,400 square feet complete with seven service bays for operations, plus a tool shed and customer areas with an office. With a prime location, the building features 1,400-sq.ft. Of an overhead loft for additional storage and plenty of parking, available for optional purchase outside of Asking Price. The property also comes with a residential rental income (2 Homes) if bought, making it a unique opportunity. With no clients making up more than 2% of its annual income, the company enjoys an ideal flexibility for strategy optimizations for further industry growth, such as more fleet work and hiring more full-time workers. Reliable personnel of five nonunion employees are most likely to remain post-sale and continue with involved functions after a seller transition period up to one year under new management roles. Besides maintaining a website, social media engagement, and backed verbal referrals from their large and recurring clientele, marketing potential exists with more aggressive radio adverts. Seller would be willing to hold a note up to 20% if property is purchased at appraised value.
Listed By: Steve Rafter
Background information
Seller Number:
A37796
Year established:
1998
Reason selling:
Approaching retirement and/or pursuing other interests.
Finance
Sales:
$786,185
Profits:
$174,572
Profit type:
Discretionary Earnings
Operations
Employees:
5 nonunion.
Equipment:
$232,936
Inventory:
$3,000
Premises
Square footage:
1,400+/-
Rent and lease terms:
Facility comes with residential Rental Income if bought!
Location:
Property valued at $700,000 is available for optional purchase outside of Asking Price.
Opportunities
Growth:
No individual clients make up more than 2% of its Annual Income!
Market:
Website, Social Media & Referral Sources.
Price and terms
Price:
$395,000
Financing:
Negotiable up to 20% for the right buyer.
Owner Transition:
One year period under new management roles.