Exclusive Off Market Deal on a profitable Toronto garage for just $399K Scarborough (Toronto, Ontario, CA ) Built

$399,000

RE/MAX EXCEL REALTY LTD.

Gary Singh Gary Singh 4163336935 (Office) 4163336935 (Office) 4163336935 (Cell) Request More Info

  • Type: Commercial
  • Style: Commercial
  • Size: 6,000 sq. ft.
  • Development Level: Built

Description

Exclusive Off Market Deal on a profitable Toronto garage for just $399K
Automotive garage in Scarborough , ON at St. Claire/Midland
~6000 sf, with around 15 car parking space on the front and 4 at the back. Lease Analysis:
Monthly total is coming $3949 per month, including Property tax. Current leasing rate is upward of 6K triple net. so buyer is saving 4,000 pm from lease only.
Lease below market value and lease discounted value comes to $280,000 at 5.25% for remaining 7 Years.
Well Established business at the same place for more than 20 years. Buyer in the profit from day 1.
Stated Net Operating Income (noi) is 15k to 20k pm. Four employees on the payroll. Owner salary is included in the NOI.
Cash sale is 70k pm
Pos sale is 10k pm
Parts purchase annually 600k
Assets Included in the sale are: Two hoists; Tire Balancer; Tore replacement; Oil tanks; POS system; Compressor And all tools
No financials
Daily Safety billing is 1k
Cars repaired and sold gross profit margin is 6k pm

Garage closes at 7pm. But has potential to go 24x7
Please do not call store directly and no reachout to the employees.

Attachments

Brokered and Advertised by : 4168908616
Listing Agent: Frank Wang 905-305-1600
P2#536646033
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