Auto Body shop w/rental income paying the mortgage

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Asking Price:
$1,299,000

Gross Revenue:
 Not Disclosed
Cash Flow:
 Not Disclosed
EBITDA:
 Not Disclosed
Inventory:
 Not Disclosed

FF&E:
 Not Disclosed
included in asking price

Real Estate:
$1,100,000
included in asking price

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Business Description

WOW! rental income pays your entire mortgage payment and your business operates mortgage free. Owner anxious for reasonable offer. 2.5 acres split into 2 parcels with large 7000 sf. masonry, block, and steel building currently used for auto body and auto repair services. Eight overhead doors, separate body shop area with large paint booth, office area, small attached 2 bedroom home or additional office space, large parking area for over 70 cars, over one acre currently vacant, property consists of two separate parcels and one acre could be sold off separately, utilities are well and septic system, property is environmentally clean. Zoned CM which allows for varied uses. Currently under non-conforming commercial use for auto repairs and body shop. Electric and heating is separated and could be used as a multi unit commercial building with tenants paying their own utilities and with separate entrances. Auto repair shop leased at $4000/month plus attached cottage rented for $900/month. Auto body shop is currently owner occupied and available to new owner.
Land is flat and partially wooded. Property is great for a user/investment combination.
High traffic, high visibility, located on a busy traffic lighted corner slated to be expanded and widened soon due to the increase in volume of traffic in the area. In the middle of one of Bucks County's highest dollar valued real estate and income areas with residential and commercial development exploding all around. Average residential home in the one million dollar range.

About the Business

Location:
Newtown, Pennsylvania
Year Established:
1971
Number of Employees:
2
Real Estate:
Owned
Building Sq. Ft.:
7,000
Facilities:
large 7000 sf. masonry, block, and steel building currently used for auto body and auto repair services. Eight overhead doors, separate body shop area with large paint booth, office area, small attached 2 bedroom home or additional office space, large parking area for over 70 cars, over one acre currently vacant, property consists of two separate parcels and one acre could be sold off separately, utilities are well and septic system, property is environmentally clean. Zoned CM which allows for varied uses. Currently under non-conforming commercial use for auto repairs and body shop
Market Outlook/
Competition:
One of only 2 automotive shops in the local area where residential development is expanding rapidly. Well known business.
Growth & Expansion:
Current owner does no advertising or marketing which could increase revenue.
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About the Sale

Reason For Selling:
owner wants to retire.
Training/Support:
owner requests qualified experienced person

Listing Info

ID:
1462479
Ad Detail Views:
383

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$
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Business Listed by

Mike Riccardi

M. Riccardi Agency Inc.

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