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Auto Body shop w/rental income paying the mortgage

Newtown, PA (Bucks County)

Auto Body shop w/rental income paying the mortgage
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Asking Price: $1,299,000

Cash Flow: N/A

Gross Revenue: N/A

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Real Estate: $1,100,000

Established: 1971

Auto Body shop w/rental income paying the mortgage

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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.

Detailed Information

Location:
Newtown, PA
Real Estate:
Owned
Included in asking price
Building SF:
7,000
Employees:
2
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
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.
Support & Training:
owner requests qualified experienced person
Reason for Selling:
owner wants to retire.
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(from currently available funds)
 
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Mike Riccardi

Business Listed By:
Mike Riccardi

M. Riccardi Agency Inc.

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