Real Estate Appraisal Company

Not Disclosed, SC


Asking Price: Annual Revenue:
$325,000 $510,550

Services: Real Estate


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RE: Real Estate Appraisal Company Broker: Adam Petricoff

Quick Facts

Asking Price: $325,000
Annual Revenue: $510,550
Net Profit: Not Disclosed
Cash Flow: $145,822
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: 1989
Employees: 2
BBN Listing #: 178055287
Broker Reference #: 42520096

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Business Overview:

When the owner started this company in 1989, he saw an opportunity to provide superior service to clients who need a real estate appraisal performed on their property. Over the years the company has worked with a variety of different clients, including individuals, realtor recommendations/clients, local and regional lending institutions as well as some local governments. The owner has never wanted to run a big business, and has purposefully kept his business at a manageable size, yet always profitable.

The company has always been dedicated to an extremely high level of service and has consistently received the majority of its business by word of mouth and referrals. The company is well-known in the community as providing a professional service.

The company serves over 5 counties in the greater Charlotte, NC metro area, with the majority of its clients coming from York county, where it is based. No customer makes up more than 10% of sales. This business could be a great business for somebody wanting to get into the business on their own or strategic addition to an existing appraisal business that wants to gain more clients in the growing area of York, SC.

The company does perform appraisals in both North Carolina and South Carolina. The owner has both these state licenses. All of the 1099’s appraisers only are licensed in South Carolina at this time. A new owner may be required to have these certifications as well to operate the business in the same manner. A city of Yok business license is required as well.

The company is owned and operated by the founder of the business. He loves the business and the industry but has decided to retire from working full time. He is happy to ensure a smooth transition with training for a new owner and is prepared for a mutually agreeable transition until the new owner is ready to take over.

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Property Features and Assets:

The business operates a leased facility for its operation, equipment, storage, and parking. The current base rent rate is $800 per month for two adjoining units. The owner is also the owner of the real estate and is open to a new lease with the buyer of the business.

Market Competition and Expansion:

The business has an established client base that it has serviced over the years. No one client accounts for more than 10% of the annual volume of the business. The client base is diversified, with many leads/referrals coming from those that have worked with the company over the years and are confident in its quality of work, reputation and reliability. The company gains new clients from its website as well as its membership in the local chamber of commerce activities. Historically, 60-70% of the revenue has come from residential appraisals followed by commercial and land appraisals. In addition, some evaluation work has also been completed. The majority of their work takes place in South Carolina.

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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