Overview

Description

Longtime established and thriving turn-key auto body and repair business in Silverdale. This sale and business will provide for a Long Term (10 year) NN lease with 3% annual increases. Net income from the building will start at $89,500. This locally owned and operated business has a well-established customer base and over 20 years of experience! The shop is conveniently located in a (+/-) 7,300 SF free standing building on an acre lot with 94 feet of frontage. The property is situated on the heavily traveled Route 113 which is a main street for Silverdale with 9,547 ADT. The building currently houses a 10,000 lb lift, a drive on frame rack system, several bays, a storage room and a separate office space. One section of the shop features a 24’ ceiling and has oversized overhead doors with the ability to do body work for large RV's and other commercial vehicles. There is also a residential apartment on the second floor of the building which will provide additional cash flow - $1,300/mo ($15,600/yr) - that is not currently being calculated in the Cap Rate. Excellent demographics – 32,959 people within a 3 mile radius and an average household income of $105,596 with 5 year projected growth in both categories of 2% and 11% respectively. This property has easy access to Route 476 and Route 202. The long-time auto body and repair business is being sold either together with the real estate or separately for $495,000. Great NN investment with a brand new long term lease commencing at settlement.




Longtime established and thriving turn-key auto body and repair business in Silverdale. This sale and business will provide for a Long Term (10 year) NN lease with 3% annual increases. Gross initial income from the building will be $89,500. This locally owned and operated business has a well-established customer base and over 20 years of experience! The shop is conveniently located in a (+/-) 7,300 SF free standing building on an acre lot with 94 feet of frontage. The property is situated on the heavily traveled Route 113 which is a main street for Silverdale with 9,547 ADT. The building currently houses a 10,000 lb lift, a drive on frame rack system, several bays, a storage room and a separate office space. One section of the shop features a 24’ ceiling and has oversized overhead doors making it able to accommodate commercial size vehicles and larger RV’s. There is also a residential apartment attached to the building which will provide additional cash flow that is not currently being calculated in the Cap Rate. Excellent demographics – 32,959 people within a 3 mile radius and an average household income of $105,596 with 5 year projected growth in both categories of 2% and 11% respectively. This property has easy access to Route 476 and Route 202. The long-time auto body and repair business is being sold either together with the real estate or separate for $495,000. Great NN investment with a brand new long term lease commencing at settlement.

---