Hardware Store w/ Lumber Yard - Motivated Seller!

Not Disclosed, TX
Galveston County


Asking Price: Annual Revenue:
$990,000 $1,500,000

Retail: Hardware, Bldg. Materials, Garden Center


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RE: Hardware Store w/ Lumber Yard - Motivated Seller! Broker: Bobbi Coffey
Owner Financing is Available!
Owner Financing Terms $135,000.00 Owner Financing Interest 8% Owner Financing Terms Months 18 Owner Financing Monthly Payment $0.00

Quick Facts

Asking Price: $990,000
Annual Revenue: $1,500,000
Net Profit: Not Disclosed
Cash Flow: $180,000
Total Debt: Not Disclosed
FF&E: $150,000
Real Estate: Not Disclosed
Year Established: 1972
Employees: 11
BBN Listing #: 266144107
Broker Reference #: 76931-920675

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Business Overview:

Price reduction on established neighborhood hardware store with attached lumber yard. Business price is equal to inventory plus 1.5x SDE. Sellers data indicates a minimum annual owner benefit of approx. $180,000. Industry multiples range from 3 to 3.5x SDE, plus inventory - this is priced to sell!

Real Estate, in addition to the business, is $1.695M. Sellers are not interested in being landlords - only buyers for both the business and real estate will be considered. The real estate consists of five existing congruent parcels and encompass the entire block except for one small section (non owned - residential) for a total of +/- 1.58 acres. The business is operating on the front street facing section (5 separate structures, including a 14,400 SF building), and there is ample space for expansion of existing operations or addition of expanded services or product lines on the rear of the property that is mostly under utilized.

Only cash buyers for the business - the business is NOT eligible for traditional or SBA bank lending. A commercial real estate loan is expected for the property itself but will likely rely on the strength of the buyer. Only buyers acquiring both the business and real estate will be considered at this time.

Established in 1972, this family-owned hardware business is celebrating its 50th year! This neighborhood supply store with lumberyard has been a staple in its community and is located on the main strip, on almost 1.6 acres of property (available for an additional $1,695,000). Its customers are made up of local and neighboring residents, tradesmen, builders, and commercial clients,

In addition to the existing land improvements and FFE that will transfer with the business, a new POS system ($30k) was installed in March, 2021, and reflects a minimum of $1.5M in annualized sales. The business has been operating very comfortably under existing ownership, and while a new office space and breakroom was added last year (at a cost of $30,000+) not much else has been done to modernize the business. According to the co-op, they are not tapping into the product demands of the local clientele and there is substantial opportunity for a new owner to enhance offerings expand product lines. Sellers are fully supportive and cognizant of this, but have no interest in developing the business to the next level, and are ready to retire!

Listing price was determined using a multiple of annual owners benefit, plus inventory at cost (which was recently valued by an independent third party, for $665k). Inventory will be confirmed immediately prior to Closing, which may increase - or decrease - the final sales price.

Contact BOBBI COFFEY at Transworld Business Advisors of Houston 832-481-4406.

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Property Features and Assets:

1.578 Acres including 3 buildings - 60x80 Metal Buildings and attached lumber yard owned by Seller. Opened in 1972, this family-owned business has been a community staple, providing all the hardware needs of their customers for 50 years. By 1983 they added two 60x80 metal buildings followed by an attached lumber yard and currently operate out of 14,400 SF. They joined a franchise co-op in 1984 which offers oustanding support and buying power, yet allows for individual independence.

Market Competition and Expansion:

There is no competition in at least a 5-7 mile radius. In early 2021 a new point of sale system was installed as well as a new interior office space and breakroom was built out, both in anticipation of preparing for sale. Otherwise, this business has operated much the same as what mom and dad handed down. As such there are opportunities to refresh product lines, update the presentation of the business and modernize the property to take full advantage of the surrounding commercial and residential customer base that continues to grow well above the national average. The franchisor also offers excellent support in both product/sales development, nationwide advertising and growth plans.

Reason for Selling:

Retirement

Additional Details:

  • The property is owned.
  • The owner is not 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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