Seller Financing Available

Asking Price:

$315,000

Gross Income:

$173,093

Cash Flow:

$81,237

FF&E:

$40,000.00 *

Inventory:

$8,000.00 *

Real Estate:

$225,000.00 *

Year Established:

1998

Employees:

1 part time

Business Types:

Auto Repair, Parts & Services
Miscellaneous Services

* included in the asking price

Business Description

3 bay shop with 2 lifts, 1 pit and a waiting area for customers and a service writer. Building has waste oil heater with low utility costs. Plenty of room to park cars around the building and on the property. Good loyal customers. $85 per hour labor rate. 1200 active customer base in computer. American and Asian auto repair except no tire, wheel and transmission work. Printed invoices with Snap-On Shop Key software. Well-equipped shop with extensive equipment and diagnostic scopes. Seller owns both the real estate and the business and prefers to sell both. However, the Seller will rent the real estate for $2,000 per month. Build equity in real estate and make money and equity in your business at the same time. Property is in an urban renewal area with B2 zoning. No more high rents and unreasonable landlords to deal with. Current owner purchased the real estate in 2000 and had a phase 1 & phase 2 environmental tests done and ground water was checked and tests were fine. THE BUSINESS AND PROPERTY HAVE BEEN PRE-APPROVED FOR AN SBA LOAN: ONLY A $40,000 DOWN PAYMENT WITH AN SBA NOTE OF $245,000, 5.5% INTEREST WITH A 20 YEAR AMORTIZATION, A MONTHLY PAYMENT OF $1,685 AND A SELLER NOTE OF $30,000, 6% INTEREST, 36 MONTH AMORTIZATION, A MONTHLY PAYMENT OF $913.

Detailed Information

Facilities:

Seller owns the real estate and business and prefers to sell both. Real estate is priced at $225,000 with 16,321 sq. ft. of land. Business is priced at $90,0000 total with a $60,000 down payment. However, the seller will rent the real estate for $2,000 per month.

Financing:

Seller finance $30,000, 36 mths, $913. SBA loan $245,000, 20 yrs. 5.5%, $2,213.

Support/Training:

100 hours within 60 days after closing.

Reason Selling:

Seller wants to semi-retire

Broker Information

Fred M. Mehring

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