Prime Real Estate and 48 Year Old Business – Owner Retiring

Price: $1,550,000

Location: Savannah Georgia

Industry: Construction and Real Estate

Listing ID: 1096

Retiring Owner is Selling Building Business and Investment Real Estate

Retiring Owner is Selling Building Business and Investment Real Estate

This full-service flooring business has a huge untapped capacity for growth centrally located in a growth market area. This 48-year-old company could generate $3-$5 million in revenues.! The real estate side of this deal also has great potential. It includes 4.55 acres plus .55 acres and a house on adjoining property.

5,000sf Show Room with 2 restrooms
1,200sf Office Spaces (7) Private Offices & Break Room
1,050sf (2) Bed; (2) Bath Apartment with Loft (Upstairs above showroom and offices.)
Total Square Feet – 7,250

10,000sf Warehouse includes (1) restroom and (2) Private Offices inside Warehouse

Commercial Space on side of Warehouse – (3) Large Rooms, (1) Full Bath

Commercial Space upstairs – (1) Private Office with a Breakroom; (1) Full Bath

14′ x 75′ Trailer Home – (2) Bedrooms; (2) Bathrooms

2.55 Acres (90% Cleared) – Could be subdivided into 3 lots.
14′ x 65′ (3) Bedroom; (2) Bath Trailer Home

.55 Acres
(1) 14×75 3 Bed/2 Bath Trailer Home &
(1) 2 Bed/1 Bath Single Family Home
Private easement to access Chevis Road to the property

 

Listing Details

Total Sales: $1,081,480

SDE: $174,468

FFE: $114,424

Inventory: $48,420

Real Estate: $1,250,000 (Included in Price)

Reason For Sale:

Age and Health issues are motivating the seller to sell.

Training & Support:

Seller will provide mutually agreed upon training for the transition.

Operation

Year Established: 1970

Employees: 3 Full time and (6) Installation Crews (Contractors)

Location

Square Footage: 16250

Summary

Historical Summary:

The President of this business was born and raised in a small town near Savannah, Georgia. He joined the United States Marine Corp in 1956 at age 17. After serving his enlistment, he worked as a manager in a family-owned restaurant that had fifty employees. In 1966, he enlisted in the United States Army. After graduating from jump school at Fort Benning, Georgia, he received orders to go to Germany. Fourteen months later, he received orders to go to Viet Nam to serve with the 101st ABN. After arriving in Cam Rhan Bay in 1967, he was reassigned to the 173rd ABN Brigade. Due to very heavy casualties, they were taking in the battle for Dakto and Hill 875. During his service in Viet Nam, he was promoted to Staff Sergeant and awarded the Bronze Star for service in connection with military operations against hostile forces.
Upon returning to Columbus, he and his six brothers started a flooring business in 1969. In 1970, they made a decision to return to Georgia and made their home in Savannah, where they started this business that he is selling now.
They now have over 70 flooring vendors giving their customers great value and services.
Their customers range from custom-home construction, residential remodels, apartment complexes, rental properties, and commercial entities. Their customers are in Savannah, Pooler, Garden City, Guyton, Springfield, Rincon, Pembroke, Statesboro, and Richmond Hill. Having this convenient location on Coastal Highway 17 makes it easy for customers to visit them.

Competition:

Seller has been winding down due to health reasons. The new owner could greatly increase the business building on a solid core customer base.

Potential Growth:

Building permits for single-family homes rose 18 percent, with 522 issued in the first quarter of this year compared to 443 in the fourth quarter of last year. Those increases are seasonally adjusted. Savannah has the fastest-growing deep-water port in the country, so it makes sense that Savannah would have growth in our real estate market.