Owner retiring from the industry, modern retail pre-owned Auto Dealership which has been upgraded and includes a valuable state dealers license and municipal approval to conduct business in this particular industry. The business location consists of a 50 car, 4,000 square foot lot with 100 feet of highway exposure. The owner purchases the vehicles from various auctions and the inventory is frequently on a standard floor plan payment plan. This auto dealership markets an average of twelve vehicles monthly resulting in a stable net income. The owner has priced the sale based on the build out and licensing cost for the business and may consider some financing to a qualified buyer. Based on the asking price, required down payment and net income this business should supply a 30% return to the owner operator prior to debt service. Based on the details of the sale this transaction represents a safe business opportunity. This modern twenty-year-old Auto business has an attractive professional image and the facility consist of an eleven hundred square foot office with separate areas to conduct business. The business has a clean image designed for high production. The lot has multiple entrances and substantial storage. This business is located on an active four lane county road with 12,000 vehicles that drive by daily. The business is located in Union County, New Jersey with numerous other businesses and close to Route various state highways. The seller will remain post closing for thirty days to supply a satisfactory training and transitional period. The sale includes a full turnkey auto dealership which includes a NJ State license to conduct business, software, computers, and desks including all the required equipment to maintain this particular retail service company. The building has a legal capacity for six customers, 1,200 square feet, consisting of one room with no basement.This business consist of one full time clerk who is unaware of the pending sale and fully expected to remain post-closing, monthly payroll $1,800. This business location has private parking for approximately 50 vehicles on the site as part of the lease. The business is operational six days weekly with hours from 10:00 am to 7:00 pm. This particular industry requires a state license to sell vehicles and a certificate of occupancy from the municipality to conduct its day to day operation. The business has an assignable commercial eight-year lease which expires 2021-01-01 with a monthly rent of $3,300 and security $3,300. The business requires an improved more aggressive marketing plan in order to further develop the bottom line income. Due to the unavailability of an additional municipal CO no new competitors are expected in this area and the seller has agreed to supply an appropriate non-compete agreement to the new operator. The business gross yearly income is $170,000 an expected yearly net of $45,000.00. The price has been set at $75,000 based on the state license, municipal CO and the long term lease agreement. Because the sale of this business is confidential all viewings are by appointment only and photo may not represent this particular business.
Asking Price $75,000
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