Recently remodeled, profitable Auto Salvage Business located in Essex County, New Jersey. This industry always produces a substantial net income due to the externally high mark up and low cost of goods to the owner operator. A salvage yard, or lot, is used to store scrap metal to be sold in bulk at a substantial mark up, and to sell resalable auto parts and vehicles. The company is located on a highly active county road and conveniently off US Route 1 & 9. The business location has recently been fully upgraded with a clean professional image. The facility consists of approximately eighteen thousand square feet with a capacity for 200 plus vehicles, with a two thousand square foot office, three bay garage and 10,000 square feet of warehouse storage area. The owner is prepared to evidence $1,900,098 gross income and a yearly net income of $784,656. The sale includes a long lease with a modest monthly rent cost of $10,000. Based on the asking price, required down payment and yearly net income, this business expects to supply a soThis industry requires a valuable license which continues to be difficult to obtain. The business is conveniently located in Northern New Jersey Essex County off US Highway 1 & 9. The area consists of a large metropolitan city with a substantial demand for this product and service. The site consists of eighteen thousand square feet, a fully operational 2,000 sq. ft. office and 15,000 square foot of storage and a three bay garage. This particular business has eleven employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $19,800. The business has an assignable commercial lease which expires 2022, with a monthly rent of $15,000 and rent security $20,000. The sale includes a valuable license which permits the user to buy and sell autos, auto parts and scrap metals. The business also has software for this particular industry, auto racks, shelving, POS system, accounting system, including all the necessary equipment to maintain the day to day operation. The facility has appropriate private parking on site as part of the commercial lease. The business is active six days per week, with hours from 8:00 am to 5:00 pm. The sale includes a certificate of occupancy from the particular municipality and license approval to maintain their day to day operation. The seller will remain post-closing and supply an appropriate transitional period. The owner is retiring / relocating overseas. The business presently has a limited marketing budget / plan which if improved can further develop the business bottom line income. Due to the valuable auto license no other new competitors are likely, to the best of our knowledge no other new competitors are expected near to this business and the owner has agreed to supply a long term non compete agreement to the purchaser. The 2015 gross yearly income is $1,900,098 and a yearly net income of $784,656. The business has been valued based on a multiple of 2.7 times the net yearly income which includes the business assets and valuable licenses and some seller financing has been approved to a qualified buyer with an appropriate down payment, collateral and credit rating. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo may not represent this particular business. lid investment return to the owner operator.
Asking Price Available On Request
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