Beauty Parlor and Spa

Business Opportunity for Sale
Catylist Listing ID: 30439187
Property Subtypes: Hair and Beauty
Building Size (RSF): 2,678 SF
Gross Land Area: 14,000 SF
Sale Price: $499,900
Name of Establishment: Not Disclosed
Year Business Established: 1998
Gross Revenue: $250,000 (Annual)
Cash Flow: $150,000 (Annual)
Last Updated: 11/19/2020

Overview / Comments

This unique property is on the corner of Warwick Ave and Ridgeway. The elegant Victorian architecture and condition of this mixed use property is excellent. Vinyl sided and newer windows are only part of the upgrades this property affords.More than enough parking and a rented 2 car garage Currently the 1st floor is a hair salon and spa doing nails, massages, etc. There is additional functional space in the basement level as well including a kitchen and full bathroom.
The upper level is a top quality renovated 2 bedroom apartment. Can be owners unit or rent out for $1300 a month. Currently apartment is leased but will be MTM soon. by choice as this is a perfect work/live in building. With garage income and residence total gross income would be around $21,780. Both have separate gas and electric utilities.
This building could be used for a law office, CPA firm , Real Estate office ,, etc. Price differential is with or without the business and fixtures.

Additional Details

Nearest MSA: Providence-Warwick
County: Kent
Industry Segment: Other Hair and Beauty
Reason for Selling: new business venture
Value of Inventory Included ($): $0
Value of Furniture, Fixtures, and Equipment ($): $35,000
Real Estate Status: Real Property
Value of Real Estate Included ($): $499,900
Real Estate Lease Description: This beautiful maintenance free property is an absolute turn key operation. Complete new 2 bedroom apartment upstairs to either rent or live in.
Employee/Labor Description: 5 stylists
Mgmt/Training Support Description: will stay on for transition to help in retaining clients. May also rent a chair part time indefinitely.
Competition/Market Description: No other high end spa nearby
Growth/Expansion Opportunities: Densely populated area

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,201 83,295 200,038
Median Age: 41.97 42.31 41.58
Households: 4,140 33,296 80,610

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