Pre Owned Auto Dealer Lease In Bergen County For Sale

Business description

Pre Owned Auto Dealership business located on a highly traffic and active county road in Bergen County, Northern, New Jersey. This business has a state issued license which allows the resale of pre owned automobiles. This Auto business license also permits the user to purchase vehicles at various auctions at competitive prices. The business site can accommodate 100 vehicles with a 300 foot highway frontage and lots of drive by traffic. The facility has a professional image, is clean modern and consists of multiple private offices and a one bay garage. The business has a high gross income with average sales of twelve vehicles monthly and most sales represent a minimum $2,000 net profit. This successful business has existed for many years and the present owner is retiring. This business has a solid reputation with wonderful customer service and a well known reputation for repeat business. The Pre Owned Auto industry has substantially increased due to the
economy, more customers cannot afford a new vehicle and desire to purchase a lower priced pre owned automobile. The sale includes a POS computer system, auto tools, desks and furniture. The facility has a legal capacity for 100 vehicles and 20 customers. Private parking for 100 vehicles is available at this location and part of the lease. The business is active six days per week, closed Sunday hours 9:30 am to 6:00 pm. The business has a NJ State issued Auto dealers license which permits the sale of Pre Owned vehicles to the general public. The sale includes a 10 year lease agreement with a monthly rent of $6,000 triple net. The Tenant responsible for all public utilities including real estate taxes. The business has annual sales of $950,000 representing a minimum $80,000 net yearly income. The seller is the landlord and will supply a long term lease and option to purchase the real estate.

Property information

Real Estate:

Lease

Location:

Located in northern New Jersey in a highly populated urban area with a huge population who require this auto service. The various cities are made up of mid to lower income residents who continue to demand pre owned vehicles.

Premises details:

The business consists of a 1,000 square foot building with various private offices, parking for approximately 100 vehicles and a one car auto repair bay.

Business Operation

Expansion potential:

With Improved purchasing and advertising the business can be further developed.

Competition / Market:

No other immediate competitors exist in the particular area of this business.

Reasons for selling:

Retiring after many successful years in this particular industry.

Employees:

2

Years established:

1960

Other information

Support & training:

Seller will supply a full transitional period to the new operator and will remain three months post closing.

Financing available:

Some owner financing is available to qualified buyers.

Furniture / Fixtures value:

$20,000 (included in the asking price)

Inventory / Stock value:

$150,000

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