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Listing ID: 1108
Halifax Regional Municipality
This is a well established automotive services business offering a new owner a secure presence in the market place, a high traffic easily accessible location, with room to grow sales without physical constraint. Primary services include detailing and rust protection.
Business has been moving in the right direction, year over year. 2016 expected to finalize with $440k in sales and Seller's Discretionary Earnings in excess of $100k. Revenues - 4 year average = $370k SDE - 4 year average = $80k There is a good balance of commercial client work as well as retail work, certainly room to grow on both sides. Every additional $1 of sales will add approximately $.45 in profit to the bottom line.
Leased Location along a major thoroughfare. - 4,161 square feet, includes office space, front reception, and an additional space that has historically been rented for $34k. This space is currently vacant and being marketed to find a tenant. - there are a total of 6 bays, room to be working on 8 vehicles at a time. Currently, only 3 of the 6 bays are being used in the operation. - Net lease - $7.60 per square foot. - 10 year term, expiring Oct. 2021 Total Rent for most recent year end was $59k.
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