LIST PRICE $635,000 FOR BUSINESS AND REAL ESTATE
First time on the market! This profitable four-bay auto repair shop has built a loyal customer base by offering excellent service and quick turnaround times.
Conveniently located in the Lansing, MI metro market, this business has been serving the Lansing community since 1988. The business is situated on a busy street travelled by approximately 8,400 vehicles per day, not far from the State Capital and University. The business has provided decades of solid income for the owner. The business operates efficiently with the seller working full time in the business along with a team of three W-2 employees who do the repair work. One mechanic position is vacant at this time. The seller mananages front of house duties such as customer service, scheduling, and billing and also back office duties. Purchase price allocated to the business entity is $410,000.
The 2500 sf concrete block building was constructed in 1963. It provides ample parking with a paved lot of twenty spaces. The building and grounds are well-kept with a new 60-mill flat rubber roof installed in 2011 on steel truss and a new furnace in 2014. Utilities are municipal water and sewer as well as electric, natural gas, and cable. The work areas have high ceilings with LED lighting, outfitted with four lifts. The parking lot is sealed every two years and is in great condition. The 250-gallon storage tank is two years old. Purchase price allocated to the real estate is $225,000.
The sale includes the building and the assets of the business including the customer list, brand, furniture, fixtures, equipment, and more as a turnkey operation.The amount shown on the financials for market rate rent can be added to the Seller cash flow, available for debt service or buyer income. Interested parties should submit a Non-Disclosure Agreeement to receive more information about the business.
2023 Revenue: $675,000
Weighted Average Seller Discretionary Earnings: $192,000 (plus $25,000 in rent expense = $217,000 Cash Flow)
Buyer or Buyers Agent to verify all information.
The business is a leading retailer and full-service dealer of a top-selling line of radio-controlled "RC" cars, trucks, airplanes, and boats. It also carries an extensive line of goods for model cars and trains, boxed board games, collectible cards and comics, and art supplies. In addition to sales, the store also offers service to repair any damaged toys.
Busy times of the year are spring as well as the Christmas season. The store is fully staffed with long-term employees who work in both sales and service. There is one full-time store manager and five part time people who work flexible hours. Saturdays and Sundays are the top selling days of the week.
Located along a major artery, the store occupies about 6,900 sf freestanding building constructed in 2010. This part of town is rapidly expanding and the store is well-positioned to take advantage of that growth. The real estate is for sale and is included in the asking price. The store has been located in various parts of town over the years and this current location has proven to be highly advantageous for continued success. The real estate has been well-maintained and offers on-site parking and ADA accessibility.
The seller purchased the business from the founders in 1980 and after decades of success is now pursuing retirement. The seller is willing to train.
Please contact the listing agent today to request an NDA in order to receive more information about the business. Thinking of working with a lender? We can refer you to lenders who have indicated their willingness to work with qualified buyers at the full list price for the store and real estate. The price of the store and real estate does not include the cost of inventory, which is additional.
Showings are by appointment only, so contact us today! Buyer to verify all information.
