Executive Suites and Virtual Office Company

Not Disclosed, VA

Asking Price: Annual Revenue:
$587,000 $809,887

Commercial Real Estate: Office Space, Office Parks

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RE: Executive Suites and Virtual Office Company Broker: Mike Metzger

Quick Facts

Asking Price: $587,000
Annual Revenue: $809,887
Net Profit: Not Disclosed
Cash Flow: $198,755
Total Debt: Not Disclosed
FF&E: $85,900
Real Estate: Not Disclosed
Year Established: 1988
Employees: 3
BBN Listing #: 87864955
Broker Reference #: 2006-16886

Email or Print Listing

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Business Overview:

This company was well ahead of its time in offering flexible, Class A office space on a short or long-term basis. With over 60 offices available, the company caters to working professionals who don't want to sign long-term commercial leases, as well as small companies looking for a small suite of offices. Clients enjoy all amenities including high-speed WiFi and LAN, mail service, phone service, fully-stocked kitchen, and conference facilities, just to name a few. Diverse revenue streams include "virtual offices" for those clients who need a physical mailing address and access to other services, but don't occupy an actual office. Additionally, the conference facilities can be leased on an hourly or daily basis.

In keeping with the industry at large, this company is enjoying a resurgence after the 2020 economic downturn. Located in a major suburban area, this company caters to those professionals who are tired of working from home, but no longer want to convene in crowded, downtown corporate offices. The company just added an additional 3100 SF in 2022 and secured a new client for 5 years.

** Includes $360K of available Tenant Improvement (TI) funds! **

SEMI-PASSIVE BUSINESS: The seller has created a low-touch business model and, with the assistance of a talented Assistant Property Manager on staff, works only a few hours per week.

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Property Features and Assets:

The seller has a Master Lease on over 19,000 SF of professional office space located in a corporate office complex in an affluent metropolitan suburb. Facility contains 60+ offices, several conference rooms, a training center, and access to building fitness center for all clients. Very favorable long-term lease includes tenant improvement funds for the next several years: - $112K of TI for use by end of 2023 (15% can be spent on FF&E) - $248K of TI for use by end of 2029 (20% can be spent on FF&E) Assets -= $147,573

Market Competition and Expansion:

As the nature of work changes post-pandemic, the flexible office model is gaining in popularity. Many "remote" workers find that the distractions of working from home actually hinder their productivity, and are looking for affordable, professional office space close to home. Several national and local franchises operate in the region, but this company retains an exclusive presence in a highly-desirable business area. With a stellar, decades-long reputation, this company retains great market share and will remain competitive for the foreseeable future. The seller is currently evaluating the potential build-out of an additional 3,100 Square Feet for a long-term client. Additionally, substantial tenant improvement funds are available for future expansion (to be fully disclosed when under confidentiality). There is additional opportunity to expand the "virtual office" client base. This model is fully scalable, with very little additional fixed cost or investment.

Reason for Selling:

Owners are retiring.

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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