Likely to get SBA funding with 20% (or less) down.
This profitable shopping center is situated on a premier site in Hillsborough County, Florida. There is ample daily traffic, the site is easy to access and the shopping center is highly visible from the main roads that it sits on. The location is fully occupied with two tenants. One has a long term contract in place and the other business comes with the purchase price. The other business is a well-known franchised fitness center with a tremendous local presence.
This fitness center has been running for years and the concept is very well established with strong processes and business practices in place. People moving into the area can transfer their memberships to this location easily. The franchisor provides its franchisees with superior branding and support. The business comes with on-going education and training. The franchisor also holds periodic conferences to help disseminate excellent ideas and ways to grow the business.
This absolutely better than starting a new franchise! New franchises can cost over $700,000 for this brand and it can take months or even a year to get your location identified, approved and built out. Additionally, you don’t have any guarantee as to when you will be profitable. We have seen our share of businesses that have gone years before they provided a reasonable net profit to the owner – and sadly, some that never have. This is NOT that type of opportunity! It’s established, has great customers and is already profitable.
Top in class. Well known. Smooth operation.
The property has one other tenant besides the fitness center which brings in additional revenue for a new owner. The business is available for sale alone but the commercial real estate is only available with the sale of the fitness business.
Asking price for the land alone is $1,750,000 with a 6.5% CAP rate. If one got a fixed mortgage, it could be spread over 25 years, making rent equivalent very affordable and stable (would not go up). Beautiful and fully up-to-date with the franchise guidelines. A must see property!
Currently, Seller invests in very little marketing for the fitness center. This alone could make a dramatic effect on the business and is one strong reason for acquiring this business. If it is doing this well without advertising, imagine how it could be improved.
The owner is moving.
Owner will sign a non-compete agreement and will provide ample training – two weeks is currently including in offering price.
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