Listing ID: 76617
925 S. Main St in Walsenburg, CO is an old fueling station and auto repair shop. At the corner of 10th and main st. and to include an additional city lot adjoining to the north currently vacant and undeveloped. 5184 Square feet of finished shop makes up this sizable block building. Two main shop areas make up the majority of this building plus there is a windowed storefront located up front to serve customers and canopy out front. The original fueling docks are located out front but the old fuel tanks have been removed and remedied accordingly by the State of Colorado’s requirements. This location is ready for a new life and has tons of potential. Air conditioning and natural gas heat. Security system, newer roof and exterior lighting, 10 x16 shed outside storage. A spacious adjoining lot to the north is clear and ready for development or would make for great parking. The fuel tanks once used for this fueling station have been remediated and the State of CO has issued a No Further Action letter.
- Asking Price: $425,000
- Cash Flow: N/A
- Gross Revenue: N/A
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 1928
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:N/A
- Lot Size:N/A
- Total Number of Employees:N/A
- Furniture, Fixtures and Equipment:N/A
5184 Square feet of finished shop Main shop areas make up the majority of this building plus there is a windowed storefront located up front to serve customers and canopy out front.
The venture was started in 1928, making the business 94 years old.
Why is the Current Owner Selling The Business?
There are all types of reasons individuals decide to sell companies. However, the genuine reason and the one they say to you might be 2 absolutely different things. As an example, they may claim "I have too many other responsibilities" or "I am retiring". For numerous sellers, these reasons are valid. However, for some, these might just be reasons to try to hide the reality of changing demographics, increased competitors, recent decrease in revenues, or a variety of various other factors. This is why it is very important that you not rely completely on a seller's word, however rather, make use of the vendor's answer along with your total due diligence. This will repaint a more reasonable image of the business's existing situation.
Existing Debts and Future Obligations
If the existing company is in debt, which numerous businesses are, then you will certainly need to consider this when valuating/preparing your offer. Many businesses finance loans with the purpose of covering things like stock, payroll, accounts payable, so on and so forth. Bear in mind that occasionally this can indicate that revenue margins are too tight. Lots of companies come under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may also be future obligations to take into consideration. There might be an outstanding lease on equipment or the building where the business resides. The business might have existing contracts with vendors that have to be fulfilled or may result in charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
How do businesses in the area bring in new consumers? Often times, businesses have repeat consumers, which create the core of their daily earnings. Particular variables such as brand-new competition sprouting up around the area, road construction, as well as staff turnover can affect repeat clients and negatively affect future revenues. One vital thing to take into consideration is the placement of the business. Is it in a very trafficked shopping center, or is it hidden from the highway? Obviously, the more individuals that see the business on a regular basis, the greater the chance to construct a returning client base. A last thought is the general location demographics. Is the business located in a densely inhabited city, or is it situated on the outskirts of town? Exactly how might the regional mean house income impact future revenue prospects?