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Listing ID: 2053166Listed on: July 7, 2016

Beverly Hills Retail / Service / Internet Landmark: Easy Transition With No Special Training Needed For Sale

90210, Los Angeles, California, United States

$ 1,100,000

(Furniture / Fixtures and Inventory / Stock included)

Revenue: $ 1,080,000

Cash Flow: $ 300,000

Business Description

Established during the Roaring Twenties, this family owned business dominates its local market niche. Owned by the grandson of the founder, it markets and sells essential consumer products from 15,000 POS optimized in-stock items. The business accesses an additional 70,000 items available for purchase through their on-line website. They leverage ship-to-store, just-in-time delivery for in-store pick-up or delivery to customers. The business also derives 25% of sales from contract services to local businesses and the community. Assets include valuable database of repeat customers. It has earned a superior, five-star reputation on Yelp for providing high-quality products and services at reasonable prices.

The store has seven full-time employees: the owner, a manager, a buyer with an assistant, a receiving & delivery person, two cashiers, and two part-timers. The services division contracts with independent technicians: four full-time & one part-time. Located in Beverly Hills, 90210, the store occupies 4,011 square feet of prime, class A, retail space, plus an additional 500 square feet of storage. The store is situated in a concrete, Type 5, podium construction building, adjacent to an 800 space public parking structure with one-hour free parking. The building provides one of the largest window to square footage ratios of any retailer in the city. Rent is substantially below market @ $1.78 per sq. ft. including storage. Current lease expiration: December 31, 2019. Monthly rent: $8,052.73, with 5% increases annually. A five-year renewal with an additional five-year option can be negotiated with the landlord. A corporate officer of the business has many decades of experience with the landlord and enjoys an excellent relationship. He will expedite the process for qualifying a prospective buyer with the landlord and securing lease extensions.

Please contact me if interested.

Thank you,

David Sternfeld, CPA

Property Details

Size:

4,511 square feet including 500 feet storage

Years Established:

90

Property Type:

Lease

FF&E:

$ 320,000

Inventory Value:

$ 180,000

Other Details

Business Location:

Beverly Hills

Premise Details:

Outstanding Class A retail & service operations. Type 5 concrete podium construction. Sweetheart lease. 800 space 1 hour free parking adjacent.

Competition:

None Exists; None Possible in city limits.

Expansion Potential:

Franchising. Continued expansion of rapidly growing professional service division.

Planning Consent:

TBD

Operation Details

Employees:

7

Trading Hours:

Monday to Friday: 9:00am - 6:00pm Saturday: 9:00am - 5:00pm Sunday: closed

Support & Training:

90 days owner continuation. Subsequently available for consulting.

Relocatable:

Business Relocatable

Miscellaneous

Financing Available:

Yes
Discount for all cash. Owner financing available subject to agreement.

Reason For Selling:

Owner retiring after 25 years in business.

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