This extraordinarily well-established hardware and general store with an additional handyman service revenue stream likely boasts one of the most prestigious locations in the country. The store, which has been in the owner’s family for generations, boasts 4.5 star Yelp reviews and offers one of the highest window to retail square footage ratios in its truly coveted location. The store tremendously benefits from a highly experienced general manager and support staff structure, a dedicated owner who is willing to remain as part of the operation on a reduced hour basis, and a strong and exceedingly loyal recurring commercial and residential client base. This enterprise is a community staple and enjoys tremendous city and community support.
The 4,511 square foot facility, plus additional onsite storage, leases for an amazing $1.78 per square foot plus common area maintenance expenses (CAM), with 5% annual increases. The favorable below market lease rate will be passed on to a buyer, who should receive a new 5 year lease term with 5.0% annual increases due to the city’s desire to maintain basic service offerings to neighborhood residents. The city owned property also has onsite parking for store patrons with 800 spaces available and 1 hour of free parking.
While competition certainly exists in the greater Los Angeles area, there is virtually no direct competition in the immediate vicinity as any stores in non-city owned properties would struggle to pay prevailing market rent rates. As such, this multi-generational business has a virtual monopoly on the market, with the potential for further expansion.
New operators may wish to extend to business hours to be open on Sunday or after 6 pm. They may also continue to increase the service offering that caters to local residents and businesses alike via the addition of alternate complementary services, while potentially also bolstering the retail offering. In additional to more service revenue streams, a new owner may have the opportunity to add 2,000 square feet to the physical premise at a similarly favorable lease rate to expand the retail operation!
Asking Price $830,000
You May Also Like
Hardware Store Franchise Opportunity #224978 posted Jan 26, 2011
- Orange County, California, United States
- Available On Request
This franchise is a Fortune 500 company of over 4,800 retailers selling hardware and related home improvement products. This company is offering store opportunities in markets nationwide. Come grow with the backing of a company possessing over 80 years of success, along with outstanding purchasing power,...
Ace Hardware Store Includes Real Estate #454981 posted Sep 30, 2016
- Placerville, California, United States
This Ace Hardware Store carries a broad range of products to serve the local community. They provide many products and services that you won't find in your typical hardware store: • Bulk Soils • Bagged soils • Propane • Lumber, trim and sheet wood products • Wall block and pavers • Extensive...
Hardware and Building Supply Retail Store #458419 posted Nov 22, 2016
- Colorado, United States
- Available On Request
The company has been operating for over 45 years and is a full-line hardware store and building material supplier. They have been serving do-it-yourself consumers, remodelers, custom builders and the farming community with quality building materials, tools, lawn and garden products, appliances, floor...
Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness.