Business Summary:
The Oldest & Best Known Bicycle Shop in Mobile. Located on a busy street in a modern, free standing building. The lot is 21,400 SF and the building has 7,500 SF, which is valued at $700,000 and included in sale price.
They have a large and open showroom with a complete shop in the back. The shop is also open to the showroom and is a great selling tool for the service department. They carry many major brand name bikes such as: Raleigh, Diamondback, Schwinn, GT, Marin and Haro. They have a full inventory of accessories, clothing, helmets and anything that can be associated with bicycles.
The business has a unique association with several large shipyards, chemical plants and other industrial industries to supply them with industrial grade bikes to use around the huge facilities.
This is an asset sale: the value of the inventory, furniture, fixtures and equipment add up to $195,000 and these are listed for sale at $175,000. The real estate will be valued based upon an actual appraisal. We have a suggested real estate value of $700,000, but this will be adjusted based upon a new appraisal.
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