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Precision CNC Machine Shop With Real Estate

Location  Florida,United States
Asking Price Range  $500K - $1.0M
Gross Revenues  $180000
Net Profit / Cash Flow  $0
Cash Flow Type  Sellers Discretionary Cash
Seller Finance  Yes
Year Established  1970
Number of Employees  10 - 19
Inventory  TBD
Relocatable  No
Number of Employees  10 - 19
Real Estate  Owned
Training  Seller will provide training
Reason for Sale  Retirement
Description  The asking price for this Precision Machine Shop Business and real estate is $ 895,000 with the real estate being about half and the equipment being half. There are no formal appraisals. The Seller is open minded on terms for a transaction which includes possible Seller financing. Given this business is asset heavy and is close to the asking price, a buyer may want to purse an SBA Loan especially on the real estate. However, the Seller will consider carrying the note for a period of time or will lease the facility at $3,000 per month triple net lease terms if someone buys the business and equipment. There are currently 3 machinists who earn between $15 and $22 per hour and one administrative person. All have been with the company at least 5 to 10 years. Prior to the recession, there were a total of 15 employees. The business is located in a property included in sale price. 10,000 SF on ground Floor most of which is for production. There are two small offices and a reception area. However, there is an additional storage level above that also has a small furnished apartment complete with a shower and bath room. The Seller lives 100 miles away and spends a couple of nights there each week. The building is well suited for CNC Machining and all the equipment is laid out well on the floor. There is one overhand area that is fenced in for keeping raw materials while there is another area that is half walled with a roof that could easily be skinned for more closed in square footage. The facility is located in a nice industrial park about 10 miles southeast from downtown Orlando. There are two air compressors for the facility. This business is an ''S'' Corporation which also owns the real estate. There is approximately $1 Million in accumulated Depreciation and $200,000 in Net Book Value on the tangible assets. Except for about $99,000 owed on the mortgage of the building, there is no debt in this business with clear title to all equipment.
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