4004 Morgan Ave., Ste. 200 • Evansville, IN 47715
Office: 812-471-2500 • Fax: 630-818-2343 (e-fax)
Direct: 812-853-8158 • Dir. Fax: 812-853-7808
Licensed Real Estate Brokers in Indiana & Kentucky
www.Indiana-commercial.com
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Investment Properties & Businesses with Real Estate
Once you have reviewed these brief listings summaries, e-mail or call me for further information.
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#SVN42932 – Dairy Queen (W)
This Dairy Queen was totally remodeled in 1992 and they are up-to-date on their brand imaging. They are located in a SW Indiana town on approx. 1.24 acres. The building is a 2,073 SF brick exterior with a flat rubber roof, tile floors, a glassed “sunroom” and a canopied drive-up window. They can seat 56 people inside, with picnic tables outside for more, and parking for 34 cars. The owner has only been spending about 3 - 4 hours per week at this location. He will pay the transfer fee. http://sale.svn.com/42392
- Asking Price: $525,000
- 2006 Revenue: $500,000
- Discretionary Income: $17,000
Randall Forster, 812-853-8158 or randall.forster@svn.com ____________________________________________________________________________
#SVN48601 – Dairy Queen (W)
This Dairy Queen was built in 1977 and totally remodeled in 1990 and they are up-to-date on their brand imaging. They are located in a SE Illinois town on approx. 2 acres. The building is a 2,296 SF brick exterior over a poured concrete basement (dry) with a flat rubber membrane roof, tile floors and a drive-up window. They have parking for 34 cars. They are located across the street from the grade school and athletic fields with 330 ft. of road frontage. The DQ uses a little over half of the north end of the lot; which leaves the south end available for development of duplexes or apartments. The owner works part time in the business. http://sale.svn.com/dqill
- Asking Price: $390,000
- 2006 Revenue: $420,000
- Discretionary Income: $80,000
Randall Forster, 812-853-8158 or randall.forster@svn.com ____________________________________________________________________________
#SVN48743 – Heat / AC Contractor
This HVAC company has been in business for over 10 years in their market. It is well established and has had steady growth. The established client list includes home builders and apartments. The offering price includes the service truck, tools, shop equipment, and the 1,500 SF building. The Seller will give 2 weeks transitional time. http://sale.svn.com/hvac
- Asking Price: $145,000
- 2006 Revenue: $283,878
- Discretionary Income: $88,252
Randall Forster, 812-853-8158 or randall.forster@svn.com
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#SVN50363 – Dry Cleaner / Laundry Business
This dry-cleaning & laundry service has been in business for over 60 years. In addition to their main plant, they have a 2nd drop-off location and a pick-up and delivery service. Fire restoration cleaning and commercial customers account for nearly half of their revenue. They currently have 4 people in the plant, 2 at the drop-off location, 1 driver on commission, and 1 PT driver that only works 1.5 hours/day. Owners want to retire. All furniture, fixtures & equipment, (estimated at over $35,000) including but not limited to commercial dry-cleaning machines, washers, dryers, pressing tables, Unipress shirt machine, delivery trucks, computer & customer lists. The 2,784 SF concrete block building is located on a major east-west street with 24 feet of street frontage and drop-off parking in front. It is a concrete slab foundation and has a rolled rubber roof (1 minor leak in heavy rains).
Asking Price: $149,000
- 2006 Revenue: $233,738
- Discretionary Income: $44,997
Randall Forster, 812-853-8158 or randall.forster@svn.com
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#SVN41696 – St. Clair Place apts. (W)
The St. Clair Place apartments are a student housing complex located virtually on the campus of Vincennes University, a 2-year liberal arts school with approx. 5,000 full-time students. VU has already added several 4-year degrees. There are five buildings which consist of 2 three story apartments (built in 1989) and 3 two story townhouses (built in 1988). There are 47 apartments containing 2 bedrooms and 1 bath each. One apartment was converted into an office and laundry room. Each bedroom has bunkbeds. There are 6 townhouse units with each townhouse containing 5 large bedrooms, 3 bathrooms, kitchen, living room, and two large study rooms (one of which could be converted into another bedroom). Each bedroom has bunkbeds.
Each lease contract is for a 10 month period, or August through May. Each contract is either per bed or per bedroom. The rates vary depending on the selection. The number of contracts depends on the mix. There is a potential for 188 contracts in the apartments and 60 contracts in the townhouses which would provide a maximum number of leases of 248. However, that has not been the management style during the last several years. The management style has been to create a mix, with an ideal goal of renting the community based on private bedrooms rather than shared bedrooms. If leases were per bedroom, then the optimal contracts would be 124.
Cap rates calculation for next year reflect a $2,500,000 price with 20% down and an annual loan payment of $$186,072.
http://sale.svn.com/41696
- Asking Price: $2,500,000
- Land: 1.60 acres
- 5 Buildings, total: 53,000 SF
- Cap rate, current year: 9.27% GRM: 5.88
- Cap rate, next school year: 10.18% Cash on Cash Return: 13.69%
Randall Forster, 812-853-8158 or randall.forster@svn.com
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#SVN91806 – Pawn Shop w/ RE (apartments & retail space)
Pat’s Pawn is located on Market Street in Mt.Carmel, Illinois. The business runs out of the street-level retail space, plus there are five apartments on the second floor of the building. Brick exterior 8,000 square foot, 2-store building with rubber membrane roof and a basement, has 5 one-bedroom upstairs apartments and a pawn shop (run by the building owners) occupies the ground floor and basement. All of the apartments are rented at this time. The pawn shop does not currently pay any rent for their space. The lot is 49.5 ft. X 191.75 ft. or approximately .21 acre. It is located in the CBD of this Southern Illinois city. The Pawn Shop business is a mostly cash business. They do not deal in guns or auto loans. They have been in business in the current location for over 20 years and are ready to retire. They also buy seasonal gift items and tools for resale.
Asking Price: $240,000 ($120K for each)
- Revenue: $158,000
- Discretionary Income: $43,000
- Inventory @ Cost: $80,000
- Accts. Receivable: $50,000
Randall Forster, 812-853-8158 or randall.forster@svn.com
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#SVN41222 – Voice & Data Systems Company
They design, build, install, train and service innovative and cost effective solutions for their customers; specializing in PBX and VOIP installation and service. They have been in business for over 12 years. The Company offers a wide range of VOIP solutions as well as traditional telecommunications and data products: Key System Units & Private Branch Exchange telephone systems; T-q, DID, ISDN, 56K & Centrex lines; a variety of voice mail options; structured cabling; Intelligent Messaging Systems; Call Center Solutions & Natural Speech Recognition computer telephony; Mitel, Panasonic, Calais & Cisco equipment; plus, they offer co-ordination between vendors and tech support. They have over 200 loyal clients, including several large national and regional accounts. They installed over 100 PBX/VOIP systems in 2006, with an average of between 40 to 200 handsets each. They average 20 – 40 service calls per day, with between 95K and 120K billable maintenance ports per year.
http://sale.svn.com/41222
- Annual Revenue: $2,000,000+
- Asking Price: $3,950,000
Randall Forster, 812-853-8158 or randall.forster@svn.com
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#SVN38896 – Skyway Shell
This Shell Service Station is located on Diamond Avenue one block east of Heidelbach in Evansville, IN. They are one of the true Service stations, as they have 2 garage bays and do all types of auto mechanic work. There are 2 canopies with a total of 6 pumps (12 fueling locations). One of those is full-service and the other 5 pumps are equipped with card readers. They have a small inside retail area where they sell soft drinks, candy, chips, etc. The building is approx. 1863 sq. ft. and the lot size is a little over an acre. They do about $120,000 in inside sales per year. They will pump about 360,000 gallons of fuel per year. This location is perfect for an auto mechanic or for someone interested in converting the bays into retail space and making this a regular convenience store. There are no such operations close by in the area. There are several options on structuring this purchase…since the tanks, pumps, canopies and Ruby System are owned and maintained by the fuel distributor, you could either continue using them as your supplier or buy the tanks, pumps, canopies and Ruby System from them, taking them out of the equation all together. MAKE AN OFFER!
- Annual Revenue: $1,400,000
- Asking Price: $325,000
- Real Estate @ FMV: $195,000
- Business @ FMV: $130,000
Randall Forster, 812-853-8158 or randall.forster@svn.com
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#221105 – Computerized Point of Sale & Cash Register Sales (W)
They sell, train and service point of sale and cash registers for scanning, inventory and retail businesses in their growing market. They specialize in hospitality, offering touch screens, table service applications, paper & ribbons, and quick service to both large and small businesses. They are a well-established business with a loyal and constantly growing customer base. Their average sale is $13,000. They have a service manage and 2 techs that all do service, installation and programming. The 2 owners split the sales, training, programming and bookkeeping. Their 2,800 sf building contains the showroom, offices, storage, service and kitchen areas. There is also an attached warehouse building of 1,232 sf. The lot is approx. 6,300 sf with ample paved parking in front. The business is conveniently located in an industrial area with easy access for customers and their service techs. The *major equipment on order and/or ready for installation is not included in the sale price below.
- Annual Revenue: $583,215
- Asking Price: $525,000 (business & real estate)
- Sellers’ Discretionary Income: $180,000
- Office/Shop furniture & fixtures: $15,000
- *Equipment for resale, avg. @ cost: $25,000
- Service van: $5,000
- Parts, paper & ribbons, avg. @ cost: $7,000
- Real Estate: $175,000
Randall Forster, 812-853-8158 or randall.forster@svn.com
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