Listed by Grisanti Group Commercial Real Estate
$425,000
Primpology
Details
APN 112803540354
Property Type Retail
Sub Type Investment
Square Footage 2,080
Cap Rate 12.24%
NOI $52,000
Price per SqFt $204
Year Built 1953
Stories 1
Acreage 0.261
Zoning C2 Commercial District
Excellent investment oppurtunity
Marketing description
Primpology Hair Lounge is a well-established, booth-rental hair salon operating for the last 10 years on a fully passive model. The owner has no day-to-day involvement, there is no marketing spend, and the salon runs entirely on the strength of its long-tenured independent contractor stylists.
The salon is divided into two distinct spaces: a front salon with booth-rental stylists on a flexible weekly arrangement, and a back salon where three stylists hold annual leases. All current contractors have been in place for a minimum of 2 years up to as long as 10 years which provides exceptional revenue stability and predictability for a new owner.
Investment highlights
- Please see the attached Minor Plat that shows conceptual plan for new lot lines. Seller owns abutting property and is making two adjustments.
- Adjustment 1: Moving rear lot line to include entire rear parking lot on 4931 W Pages parcel
- Adjustment 2: Moving front lot line to give more space to future access onto 4933 W Pages Parcel
- Well Tenured Stylists
- Strong NOI and CAP Rate
- Room to grow by filling out existing booths and adding additional booths.
- Seller owns abutting land and would consider selling.
Listing Contacts
Listed by Grisanti Group Commercial Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$52,000.00
$4,333.33/mo
Valuation Metrics
0
DSCR
12.24%
Cap Rate
12.24%
ROI
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