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Thursday, September 09, 2010
Listing Details - Real Estate Company with Rental Property
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Real Estate Company with Rental Property
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North Central Arkansas - Faulkner
| Seller Financing: |
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| Lender Pre-Qualified: |
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| Listing ID: |
61071 |
| Status: |
Inactive |
Listing Details
| Listed Price: |
$560,000 |
| Down Payment: |
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| Total Sales: |
$193,000 |
| SDE: |
$120,800 |
| EBIT: |
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| EBITDA: |
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| FFE: |
$123,000 |
Included? Yes |
| Real Estate: |
$200,000 |
Included? Yes |
| Inventory: |
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Included? No |
| A/R: |
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Included? |
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| Reason for Sale: |
owner retiring |
| Training: |
owner will train |
| Financing Terms: |
negotiable |
Operations
| Year Established: |
1997 |
| Last Acquired: |
1997 |
| Form of Ownership: |
S Corp. |
| Home Based: |
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| Relocatable: |
Yes |
| Type of Location: |
Strip Center |
| Absentee Owner: |
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| Online: |
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| Employees: |
Full Time: 4 / Part Time: |
| Managers: |
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| Hours: |
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| Owner Hours: |
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| Non-Owner Payroll: |
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| Franchise Info: |
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Location
| Lease Expire: |
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| Option: |
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| Lease Terms: |
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| Lease Security: |
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| Monthly Rent: |
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| Square Footage: |
1500 |
| Facilities: |
Real Estate Company - leased office space with four offices and reception area.
Rental Property - 8.5 acres minutes away from Real Estate office, with six mobile homes in good condition. |
Summary
| Business Description: |
This sale includes two separate businesses sold together as one.
First is a twelve year old real estate agency with four agents, generating approximately $82,000 discretionary income for the owner. The business virtually closes five months of the year (November - March), and the agents handle the day to day activity during the open months. The company keeps approximately 20 listings. One of the primary agents has a broker's license and could assume the role of principal broker, allowing a passive owner to own this business without a broker's license. The business leases a highly visible office in a strip center on a busy highway, with four office rooms and a reception room within. This business is offered at $190,000.
The second business offered is rental property with leased trailers included. The sale includes 8.5 acres of rental property - valued at $200,000, and six trailers, currently all occupied with renters - with a fair market value of $113,000. These trailers currently rent for $475 to $550 per month each, generating approximately $3225 monthly for the owner. The rental property includes power, city water, and sewer hookups that would support another nine trailers if the new owner wants to expand. The city zoning commission has approved the site for a maximum of 15 trailer spaces. This business, including land, trailers, and $38,700 in annual cash flow, is offered for $380,000.
The owner will only consider offers that include both businesses, with a total list price of $560,000. |
| Historical Summary: |
Started by the current owner in 1997. |
| Owner Qualifications: |
real estate broker, experienced rental property manager, excellent knowledge and experience with the local real estate market. |
| Competition: |
very little |
| Potential Growth: |
Both businesses could easily be expanded. |
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