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Friday, May 18, 2012
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Business Ready & Virtual Office in New York City
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Manhattan-New York City - New York, New York
| Seller Financing: |
Yes |
| Lender Pre-Qualified: |
No |
| Listing ID: |
73270 |
| Office ID: |
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| Status: |
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Listing Details
| Listed Price: |
$1,795,000 |
| Down Payment: |
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| Total Sales: |
$1,428,798 |
| SDE: |
$240,000 |
| EBIT: |
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| EBITDA: |
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| FFE: |
$750,000 |
Included? Yes |
| Real Estate: |
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Included? No |
| Inventory: |
$20,000 |
Included? No |
| A/R: |
$10,000 |
Included? No |
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| Reason for Sale: |
Partners have thriving and expanding medical practices and wish to devote 100% effort to those practices. The rental business was started in response to a demand from fellow medical practitioners for space without the long term leases and other costs associated with renting space. Projected cash flow increase by 50% in 2012. |
| Training: |
Complete training available to the "right" individuals. |
| Financing Terms: |
Submit offers...reasonable terms will be considered with a mininum 50% down payment. |
Operations
| Year Established: |
2006 |
| Last Acquired: |
2006 |
| Form of Ownership: |
S-Corporation |
| Home Based: |
No |
| Relocatable: |
No |
| Type of Location: |
Office Building |
| Absentee Owner: |
Yes |
| Online: |
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| Employees: |
Full Time: 5 / Part Time: 1 |
| Managers: |
1 |
| Hours: |
Monday through Friday 8am-5pm |
| Owner Hours: |
10 |
| Non-Owner Payroll: |
$194,442 |
| Franchise Info: |
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Location
| Lease Expire: |
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| Option: |
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| Lease Terms: |
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| Lease Security: |
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| Monthly Rent: |
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| Square Footage: |
8000 |
| Facilities: |
There exist 2 locations with 3 floors of space rented. Each floor has a separate lease attached. The facilites are immaculate and kept in like-new condition, as expected by the nature of the rental customer. Most locations have been occupied for three years or less. |
Summary
| Business Description: |
The locations offer short and long-term leasing of business ready offices. These furnished office spaces are turnkey and move in ready unlike most traditional office rentals which require extensive build out. A business can be up and running within 24 hours. The seamless move-in process, superior customer service and stellar reputation are what makes these locations the most sought after properties and locations in New York City.
Also offered are virtual offices. This service includes a high-profile business address, mail receiving and forwarding services, a dedicated 212 area code phone number, call answering, call forwarding, call screening, available conference rooms, workstations, and document services.
This is an ideal acquisition and add on for anyone currently operating virtual office facilities, renting executive office suites, providing telephone answering or conferencing services.
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| Historical Summary: |
Started in 2006 by three doctors who realized that the medical profession needed this type of professional space complete with support and staff for their practice to operate more efficiently. Their respose was to make available space exclusively for doctors which later was open to the general public. Today the space is not industry specific, has a wide variety of clients and experiences a situation where demand outstrips supply. |
| Owner Qualifications: |
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| Competition: |
There are competitors in New York City but few exist in the downtown New York City locations of this enterprise. |
| Potential Growth: |
Substantial growth available with the increasing need for "virtual office space." There is an unlimited marketplace and unlimited capacity for a prestigious New York City address which can be utilized by anyone in the US or foreign countries as well. There is also room to expand the physical space needed for clients who use the space for their permanent office. Revenue increases projected as existing tenant leases renew will improve net cash flow by more than 50%. |
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