Turn Key, Profitable and Established Used Vehicle Dealership For Sale! This 7 year old successful business is located in two extremely attractive, high traffic count locations in the heart of Hampton Roads, Virginia. The Real Estate locations are only 3 miles apart and prime shopping targets for car and truck buyers. Both locations are situated among popular, high volume new vehicle franchises as well as two large rental company pre-owned retail lots. This operation generated almost $4 million in top-line revenue in 2017 and $162,000 in bottom line cash flow.
This turn key operation is perfect for the motivated buyer looking to make money on Day One. All ingredients to success are in place: a loyal, stable and professional automotive team, abundant inventory (note: stock inventory is not included in selling price, but available at buyer's option), a proven location for successfully retailing used vehicles, plentiful access to inventory and a consistent record of profitability. The business is offered for $350,000 and the Real Estate is offered at $1,400,000 -- both are being sold as a complete package. (Please take note the owner will not entertain inquiries for splitting the overall package -- business or Real Estate).
LENDER FINANCING PACKAGE IS AVAILABLE (to qualified buyers)! -- This business has been pre-qualified for 20% down payment, Lender financing package for a 25 year term, with the amount to be financed at $1,400,000. Payments at 6% interest are $9,020/month. Buy a $4 million business, with $1.4M in prime real estate, for only $350,000 down!
This operation is located in the best vehicle buying market in all of Hampton Roads and draws from a diverse, populous and strong economic base. There are 2 locations on excellent retail sites: Location #1: Located on a major traffic artery with excellent frontage and accessibility and situated just minutes off Interstate 64. Overall property is .65 acres with dimensions 155' frontage and 180' depth. There is a two story sales building (built in 1994) with 2,206 square feet of operating space -- and a total of 5 offices. This location houses the main office for the business. Daily traffic count by this location: 40,000 vehicles. Location #2: This location is only 3 miles from Location #1 and on the opposite side of Interstate 64 on an adjacent major traffic corridor. Overall property is .83 acres with dimensions 203' frontage and 203' depth at maximum length on an irregular shaped parcel. There are 3 separate buildings on this property: a sales office, a vacant storage building and a 3 bay service garage with a total square footage at 2,876 (built in 1970). Daily traffic count by this location: 37,000 vehicles. This business is only 1 of 2 independent automotive dealers in this highly sought after, heavily traveled automotive shopping corridor.
This established, profitable business is well positioned for growth. The potential areas for growth include the ability to draw from a wider geographic base via technology-based solutions, larger inventories and sales staff and expanding the mix of "buy here, pay here" marketing which will attract customers not targeted by the new car franchise dealers.
The used vehicle market has been robust for many years with expected national sales exceeding 40 million units in 2018. Most of the competition in this local corridor are new vehicle franchises and rental car used vehicle sales centers. It is an excellent car buying area and the competitive density is well above average, which enables strong and steady levels of daily drive-by prospects and showroom traffic.
Owner has other business interests.
Will train for 4 weeks @ no cost. The business generates revenue from three sources: 1. Sale of Used Cars, SUV's and Trucks 2. Financing and Warranty Products 3. Gap and Product Insurance