Property Management Firm

Not Disclosed, NC


Asking Price: Annual Revenue:
$249,500 $211,021

Services: Real Estate


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RE: Property Management Firm Broker: Frank Chebalo

Quick Facts

Asking Price: $249,500
Annual Revenue: $211,021
Net Profit: Not Disclosed
Cash Flow: $127,234
Total Debt: Not Disclosed
FF&E: $12,000
Real Estate: Not Disclosed
Year Established: 2014
Employees: 3
BBN Listing #: 48304955
Broker Reference #: 2007-16602

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Business Overview:

This niche business was established in 2014, designed to handle the property management of a specific set of condominiums. Long term contracts secure the opportunity located in an attractive and desirable area in Eastern North Carolina. The Owners along with just a few employees provide Common Area Maintenance Management for the facilities along with assisting the Homeowners Association (HOA) with various purchases, maintenance items, and maintenance repairs related to the exterior of the property. In addition, the owners handle and maintain all the grounds and common areas including landscaping, trash disposal, and cleaning. And further assist owners and tenants with various maintenance issues and concerns related to the property. As a result, the owners are on a 24-hour call based on the contractual responsibilities. However, those calls are infrequent. And the owners will tell you that the calls are readily balanced by the grand opportunity to live in a spectacular area with great clients as condominium owners. This is a rare opportunity with great growth and expansion capabilities. The owners will say it’s the tip of the iceberg. And were it not for the fact that the owners see retirement as a near end run here, they would be expanding. That said, the current owners will be more than willing to provide a smooth introduction and transition and will also share in detail the growth and expansion opportunities.

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Property Features and Assets:

The property footprint managed, spans just under 114,000 square feet, comprised of 28 separate condominium units. Assets = $12,000.

Market Competition and Expansion:

Very little competition in this space. The location and opportunity are unique. This business has an established base and great opportunity for growth in two specific areas. The first area of growth would be to expand the current footprint to additional condominiums and property management opportunities, increasing the overall square footage served. Secondly the business can expand service offerings for existing customers. The expansion of services can include Window washing services, pressure washing, and generalized interior services covering upkeep and maintenance and well as one time or singular repairs.

Reason for Selling:

Retirement.

Additional Details:

  • The property is owned.
  • The owner is willing to train/assist the new owner.
  • This is a homebased business opportunity.
  • This is a franchise resale opportunity.

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