Carpet Store

Carpet Store

Expired

$899,000.00

Listing Number :

 6310

Status :

Expired

Price :

$899000

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Area

5500

Description

This Family Owned business was originally founded and established in 1989. For over 30 years, they have been serving the Los Angeles area with quality carpet, hardwood, tile, laminate, luxury vinyl, and cork flooring. Services include flooring installation, hardwood refinishing, custom area rugs, area rug binding, commercial floor installation, carpet re-stretch, free in-home measurement, flooring repairs, furniture removal, subfloor repair, carpet disposal, and window treatments. Business Hours are Monday – Friday 8-5 and Saturday 8-2. There are 22 employees including current owners, 15 installers, 2 sales, 2 warehouses, 1 office.

This location features 2 separate buildings with a total of 5,500 SQ FT of space. Parking included at this location. Showroom and office space is 3000 sq ft, which is used for subject Business and additional building is 2500 SQ FT and currently under a lease agreement with a tenant as an rental income of $5,000/mo until October 2022.

(This rental income goes with the real property in the event property is also purchased otherwise it is not part of the Business Income or transaction)

Average Gross sales are $3,400,000.00 + annually

Average Net income of $275K + annually including owners’ salaries

The Business is also renting an additional warehouse space with a monthly rent of approximately  $6,000/Month, Landlord must approve new tenant.

(This is part of the rental expenses in the Profit and Loss statements)

Account receivables to be prorated at closing of escrow per Buy and Sell agreements. #6310

 

Business Information Financial Information
Ownership Type:  Corporation
Year Established: 1989
Year Purchased: 1990
Business Type: carpet cleaning
License(s) Required: business
Hours of Operation:
Business Relocatable: No
Business Is A Franchise: No
Home Based: No
Broker To Broker CoOp:  No
Office Listing Number: 6310
Date Available: 9/22/2020
Reason For Sale:
Annual Total Revenue: 3400000
Annual Net Income: 350000
Inventory:
Monthly Payroll:
Lease Information
Base Rent:
Lease Expires:
Lease Option:
NNN:
 
Financing Information
Down Payment: 899000
Owner Will Carry:
Other Finance Terms:

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