2441 Romig Rd
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2441 Romig Rd
4,300 SF Retail Building Akron, OH 44320 £743,328 (£173/SF) 11.16% Net Initial Yield
Executive Summary
This is a well-established, busy, profitable, and reputable automotive repair shop for both foreign and domestic vehicles. It provides full-service operation, including engine, transmission, suspension, electrical, wheels, brakes, tires, heating, A/C, exhaust, emission, and other services. The sale includes over 1 acre of land, .59 acres of which is adjacent vacant land for growth/expansion, a 4,300 square foot building fully equipped and staffed to support the repair shop, with ample storage, and located in a busy, easily accessible, mostly commercial area of the city. This is truly a turn-key business as the purchase price includes the building and land, and all the equipment, tools, furniture, fixtures, and supplies on hand.
The seller has owned, operated, and managed this repair shop for over 15 years. He is selling to enjoy semi-retirement and allow more time for other pursuits. He is open to discussing the possibility of staying on after the sale to help facilitate the transition of the business. In addition, he is open to discussing possible part-time and on-going management and/or marketing support.
For confidentiality purposes and before receiving detailed historical financial information, serious potential and qualified buyers will be asked to sign a Non-Disclosure Agreement (NDA).
The seller has owned, operated, and managed this repair shop for over 15 years. He is selling to enjoy semi-retirement and allow more time for other pursuits. He is open to discussing the possibility of staying on after the sale to help facilitate the transition of the business. In addition, he is open to discussing possible part-time and on-going management and/or marketing support.
For confidentiality purposes and before receiving detailed historical financial information, serious potential and qualified buyers will be asked to sign a Non-Disclosure Agreement (NDA).
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Business Value Included
Property Type
Retail
Property Subtype
Auto Repair
Building Size
4,300 SF
Building Class
B
Year Built
1979
Price
£743,328
Price Per SF
£173
Net Initial Yield
11.16%
NOI
£82,940
Business Value
£508,593
Tenancy
Single
Number of Floors
1
Building FAR
0.22
Lot Size
0.45 AC
Opportunity Zone
Yes
Zoning
Auto Repair - Commercial
Parking
12 Spaces (2.79 Spaces per 1,000 SF Leased)
Frontage
219 ft on Romig Rd
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 68-52373 | Improvements Assessment | £41,977 |
Land Assessment | £14,764 | Total Assessment | £56,741 |
PROPERTY TAXES
Parcel Number
68-52373
Land Assessment
£14,764
Improvements Assessment
£41,977
Total Assessment
£56,741
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2441 Romig Rd
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