The Company is a full-service auto body shop located within the I-275 loop. Its location provides for easy access to all area highways, including Ronald Reagan Highway, Norwood Lateral, Interstates 75, 71, 74, and the I-275 Loop. The business has been a family owned and operated business for many years. The Company provides complete OEM and aftermarket auto body collision repair service. Equipment includes a Down-draft Bake Booth w/Ceiling and Floor Filtration, a Paint Mixing Room w/Mixing System & Computer, Drive-on Floor Lift, a Floor Frame Rack, and many other assets asso-ciated with a body shop. • Excellent location to serve many densely populated areas of the City • 15,950 square foot property on a corner lot with high traffic flow • Over 7,000 square foot free-standing building • 1,252 square feet of climate-controlled office space • 4 Drive-in Bays - 10’x12’ each • Break / Meeting Room, Shop Bath The owner recognizes that in the past few years a combination of a poor economy, the loss of DRP’s, a lack of attention by him and any real marketing, has hurt the business. Their facility is capable of significantly more sales. In past years, the business did approximately $1,000,000 in revenue when it had five DRP accounts. The owner realizes it is time to retire and sell the business and real estate to an acquirer with more energy or relationship with DRP’s to promote the business. All office furniture, equipment, supplies, and work-in-process are included. The equipment/fixed as-sets included in the sale are valued at more than $59,000 (FMV). The real estate is valued at $380,000 (appraised in 2001 at $360,000). The business assets and real estate are being offered at $439,000, free and clear of debt and all liabilities. Recent revenues have been in the $200,000 to $300,000 range. The asking price is based on asset value and not business value (goodwill), it is expected the buyer will have little interest in the P&L provided, but will look at the capability of the facility and equipment to support his/her projections.
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