Commercial Real Estate with 7% CAP Rate

Wake Forest, NC
Wake County


Asking Price: Annual Revenue:
$415,000 $91,389

Commercial Real Estate: Retail & Shopping Centers


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RE: Commercial Real Estate with 7% CAP Rate Broker: Tina Wright

Quick Facts

Asking Price: $415,000
Annual Revenue: $91,389
Net Profit: Not Disclosed
Cash Flow: $43,328
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: 2005
Employees: Not Disclosed
BBN Listing #: 634956491
Broker Reference #: 67675-878455

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Business Overview:

Ten modern, attractive studio suites conveniently located in N. Raleigh. Each suite can be custom designed by the stylists and all suites have wash stations, chairs, and access to dryers. The studio suites include a receptionist desk and customer seating area with access to Wi-Fi and cable TV.

This business is 15 years old and has long term stylists who pay a weekly rental rate allowing this business to be run by an absentee owner. 8 or the 10 suites are occupied. The business includes 2 adjoining condos and the CAP rate is 7%, making it an attractive investment.

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Property Features and Assets:

This 15-year-old business is on its second owner and has been run by an absentee owner for the last 5 years. The business has grown into 10 salon suites in two adjoining condos located conveniently in N. Raleigh. There are long-term stylists who have been renting studios for years and even with the pandemic the studios have remained rented.

Reason for Selling:

Retirement

Additional Details:

  • The property is leased.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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