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.
