SOLD
Executive Summary
This is a 3,200 square foot facility containing 15 single suites and two double suites. One suite is currently used for storage. At present, there is only one vacancy. However, the owner anticipates three suites could become vacant. The business averages 85% occupancy. These well-built salon suites are individually leased to hair stylists, manicurists, and cosmetologists. The stylists pays rent to the owner of the salon. Rents range from “$160 per week to $274 per week per suite” All tenants sign an initial one year lease. The salon suite owner leases the entire space from the landlord of the shopping center. The storage suite could easily be converted to a rental unit. The current owner is moving of state and must sell. Currently, she spends about 9 hours per week at the business. This could easily be absentee owned as the previous owner was completely absentee.
| Listing #: | 2259 | Asking Price: | SOLD |
| Location: | The Woodlands | Down Payment: | $120,000 |
| Business Type: | Salon Suites | Sales Volume: | $169,140 |
| Discretionary Earnings: | $44,833 |
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