Listing ID: 76692
A rare opportunity to own a piece of Huerfano County history could be yours! The old St Charles Hotel is rich in history and charm. Dating back to the late 1800’s. For many years it was a prominent hotel enjoyed by many people. Most recently, is has served as various offices from a Barber shop, a Restaurant, a Tattoo shop as well as a dental & insurances office. The entire building consists of 10,000 sq ft of office and living space. There are five offices and two apartments. Several are occupied with tenants already. The old brick building formerly known as the dental office, is now an apartment but is also still considered commercial. It has a nice front office area and foyer as well as a large kitchen. The location is hard to beat. and potential is truly unlimited.
- Asking Price: $425,000
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- Inventory: N/A
- Inventory Included: N/A
- Established: 1900
- Property Owned or Leased:N/A
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Five offices and two apartments.
The company was started in 1900, making the business 122 years old.
Why is the Current Owner Selling The Business?
There are all kinds of reasons people choose to sell companies. Nevertheless, the true factor and the one they tell you may be 2 entirely different things. For instance, they may state "I have too many various obligations" or "I am retiring". For lots of sellers, these factors stand. However, for some, these might simply be reasons to try to hide the reality of transforming demographics, increased competition, recent reduction in revenues, or a range of other factors. This is why it is very crucial that you not depend entirely on a vendor's word, yet instead, utilize the seller's answer along with your total due diligence. This will repaint an extra sensible image of the business's existing scenario.
Existing Debts and Future Obligations
If the current company is in debt, which lots of companies are, then you will have reason to consider this when valuating/preparing your offer. Lots of companies borrow money in order to cover points such as inventory, payroll, accounts payable, so on and so forth. Bear in mind that sometimes this can imply that profit margins are too small. Many companies fall into a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may likewise be future obligations to take into consideration. There might be an outstanding lease on tools or the structure where the business resides. The business may have existing agreements with vendors that should be satisfied or may lead to fines if terminated early.
Understanding the Customer Base, Competition and Area Demographics
How do companies in the location draw in brand-new clients? Most times, operating businesses have repeat customers, which develop the core of their daily revenues. Particular aspects such as new competition growing up around the area, road building and construction, and also personnel turnover can impact repeat consumers and also adversely influence future revenues. One crucial thing to take into consideration is the location of the business. Is it in a highly trafficked shopping center, or is it concealed from the highway? Clearly, the more people that see the business often, the greater the chance to build a returning client base. A last idea is the basic location demographics. Is the business situated in a densely inhabited city, or is it located on the outskirts of town? How might the neighborhood median family income influence future income prospects?