Oregon Coast Ace Hardware
Established 35 Year Old Business
NRC has been engaged to sell the well-established and highly profitable Waldport Ace Hardware, including the business goodwill, real estate, store furniture, fixtures, equipment and inventory, as ownership is retiring after 16 years of owning the business. The business was established in 1984 and has been a fixture of the community and surrounding area for the past 35 years as a “one-stop shop” for residents, tourist, and tradesmen alike.
The store spans over 11,000 square feet across 14 merchandise aisles and an outdoor lawn and garden section, plus a warehouse and second-level office space. The business covers all major hardware categories, plus beer, lottery, and other general merchandise. The business could be expanded to feature animal feed using existing storage area. Recent capital improvements include a newly installed cost-saving LED lighting throughout the store, state-of-the art security system, powerful heating system, repaved back parking lot, and store exterior repainted. Ownership is willing to provide the buyer with training on running the business.
Waldport Ace Hardware enjoys competitive insulation with the closest “big box” hardware store being 50 miles away. Additionally, it is the only store with a full line of plumbing, electrical, fishing, automotive, door lock, tool (including the Craftsman brand), paint, landscaping, and hardware products for 20-miles (30-45 minute drive). As the area retail store catering to tradesmen as well, it boasts the largest hardware section on the entire Oregon Coast. The store typically has five employees working the floor including a manager, product specialists, inventory assistant, and two cashiers. The owner typically works three days a week at the store.
Bids Due: June 25
To obtain the asking price, additional property and business information, download the confidential Investment Summary with financial statements and other due diligence material, and receive sale updates, sign-up for the sale below and log-in to your NRC.com account.
|Property Ownership Type||Fee simple ownership|
|Building Size||10,490 sf|
|Lot Size||0.4 acres (17,425 sf)|
|Cross Streets||NE Alsea Hwy & NE Broadway St|
|Gross Revenues (2018)||$1,204,542|
|Property Viewing - Important Information|
Inspection of the property may be performed during normal business hours. Inspections shall not interfere with business operations and do not include back rooms, storage areas, or secure areas. UNDER NO CIRCUMSTANCES MAY A BIDDER ASK QUESTIONS OF STORE MANAGERS OR STORE EMPLOYEES. INDIVIDUALS VIOLATING THIS REQUIREMENT MAY BE DISQUALIFIED FROM BIDDING.
Contact: David Levy at 312-278-6870 or firstname.lastname@example.org for information.
Broker Co-Op: 2% of Bid Price (not including inventory). Terms and conditions apply and broker registration is required.
1% Buyers Premium to be paid by buyer at closing.
Licenses, Permits, and Authorization. It is the purchaser’s sole responsibility to obtain, at its expense, any licenses, permits and authorizations (collectively, “Licenses”) required to acquire, lease, and/or operate the Property. In addition, Seller will not convey to purchaser any gun, alcohol, lottery ticket, or other inventory requiring Licenses at Closing, unless such Licenses have been properly obtained by the purchaser at the time of Closing. Purchaser’s procurement of any required Licenses is not a condition to Closing.
Seller’s Reservation of Rights. Seller expressly reserves the right, in its sole discretion, at any time and without giving reasons therefor, to accept or decline any offer, postpone, extend, or cancel the bid deadline, or withdraw the property from the sealed bid sale at any time without notice.
Disclaimer. Although information has been obtained from sources deemed reliable, NRC Realty & Capital Advisors, LLC, Congress Realty, Jared English Broker #200804165, the Seller, and/or its representatives, brokers or agents make no guarantees as to the accuracy of the information contained herein, and offer the property without expressed or implied warranty of any kind including, without limitation, any warranty of condition, habitability, or merchantability or fitness for a particular purpose, with respect to the property and business. Except as set forth in the Purchase and Sale Agreement, the sale of the property is on an “AS IS, WHERE IS, WITH ALL FAULTS,” basis. Lot and building sizes are approximate.