Multifamily & Commercial Plumbing

Iowa City, IA
Johnson County

Central Iowa


Asking Price: Annual Revenue:
$1,920,000 $3,508,229

Services: Construction, Contractors


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RE: Multifamily & Commercial Plumbing Broker: Cortney Sells
Owner Financing is Available!
Purchase Price: $1,920,000 15% Buyer Down Payment: $288,000 15% Seller Financing: $288,000 70% Bank Loan: $1,344,000

Quick Facts

Asking Price: $1,920,000
Annual Revenue: $3,508,229
Net Profit: Not Disclosed
Cash Flow: $615,249
Total Debt: Not Disclosed
FF&E: $647,156
Real Estate: Not Disclosed
Year Established: 1973
Employees: 17
BBN Listing #: 695734398
Broker Reference #: SER062

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Business Overview:

Nearly 20 seasoned staff providing service in Iowa City area! This trusted plumbing business brought in $3,508,229 of sales for 2018 and has over $647,000 in assets. An established reputation for accurate bids and project timeliness leads contractors & clients to repeatedly seek out their services. Operating with an experienced team of 17 employees, Master Plumbers and apprentices work together on projects such as multi-family residential units ranging in size from duplexes to 104 unit buildings; new and remodel single family residences; small to medium size commercial projects, boiler installation and service and plumbing service.

Their core competencies are multi-family units ranging in size from duplexes to five level buildings with 100+ units; residential work focusing on new houses in the $325,000 to $1,000,000 range and residential remodels at $15,000 and above. The Company offers complete plumbing construction from under slab, above slab rough-in, trench drains, roof drains, fixtures and fixture installation. This company is generally regarded as having the best boiler service and installation team in the area.

With a reliable customer base, this business focuses on taking care of their existing clients and they are able to be specific and selective with new projects and bids. The 6,000 sq. ft. space is owned by the seller, but the space will be available for uninterrupted continued lease after the sale. The building features office and storage space. The owner currently manages estimations and does end of month accounting work. This owner has also developed a strong company culture, creating a close-knit atmosphere where apprentices can learn sound fundamentals, individuals have the tools, equipment and resources they need, and project teams are matched to the projects that are best suited to their individual strengths.

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Property Features and Assets:

6,000 square feet: Office and warehouse, available for continued lease.

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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