Retail•Free Standing•For Sale

True Value Rental of Crystal River

8081 West Gulf to Lake Highway, Crystal River, Florida 34429

Sale Price Market
Sale Type Owner User
Zoning GNC
Bldg Type Single-Tenant
Class B
Status Existing
Year Built 1973
Year Renovated 1999
Stories 1
Cap Rate 12.00%
Gross Bldg 15,852 SqFt
Total Avail 15,852 SqFt
Land Area 3.52 Acres
Parcel# 17E-18S-22-12000-0040, 17E-18S-22-12000-0030
Commercial Asset Partners, Inc. is pleased to offer for sale the business and real estate of Total Rental Centers, Inc. DBA True Value Rental of Crystal River. This locally owned and operated business has been serving Crystal River and surrounding communities with the finest in rental equipment and sale items since 1973. True Value Rental has an extensive rental inventory that includes: excavators, trailers, stump removers, skid steers, lifts, trenchers, generators, air compressors, tables, chairs, party supplies, concessions and more! Equipment rental companies are considered highly profitable business models that operate in a well-defined and protected niche. That is certainly accurate of True Value Rental of Crystal River, with a customer base that extends 20 miles and encompasses a population of over 172,000. This diverse business has experienced consistent growth since 2012, with revenue increasing nearly 7% between 2016-2018. Revenues for the business exceeded $1.7 million in 2018 with a three-year average cash flow of $388,000. True Value Rental of Crystal River has a long history and an excellent reputation within the industry and the community. Strong internal systems and the desire of key personnel to stay on post sale will provide the buyer with the assurance of smooth ongoing business operations. The owners and employees take great pride in keeping this property clean and organized and it shows! The property contains 3.52 ± acres of land with plenty of room for outdoor storage and customer parking. The 8,000 square-feet (SF) store building had a new TPO roof installed in 2018 and contains 3,200 SF of retail showroom, 2,800 SF of warehouse, 2,000 SF of roof-covered open porch, a break room and two restrooms. A party/events supply room comprises 1,200 SF of the 2,800 SF warehouse area, is fully air conditioned and features a commercial dishwasher, washer, dryer and sink. The 7,852 SF warehouse in the rear portion of the property was built in 1999 and contains a 420 SF office (new HVAC installed 2018), two restrooms, 1,660 SF of air conditioned warehouse and 5,772 SF of warehouse. Three roll-up doors provide access to the warehouse. A large elevated pylon sign with digital display board and a full-size billboard provide prominent advertising along West Gulf to Lake Highway (State Road 44), where the property benefits from nearly 300 feet of frontage. The back half of the property is secured with chain link fencing and each building is outfitted with monitored security cameras. Crystal River, located in Citrus County, is one of the fastest growing markets in Florida and this beautiful area is touted as the Gem of Florida’s Nature Coast. The tremendous growth in the area is fueled in part by Duke Energy's new $1.5B natural gas power plant that opened in October 2018. True Value Rental of Crystal River is within short driving distance of Tampa, Gainesville & Ocala. The Suncoast Parkway provides quick access to Tampa and is undergoing a 13-mile extension northward from US 98, where it will connect to Gulf to Lake Highway just 4 miles east of the property. Construction of the extension is anticipated for completion in 2022 with plans to extend the Parkway to Georgia and connect it to the Florida Turnpike. The Parkway extension is projected to result in even more area growth. Contact Commercial Asset Partners today to learn more about this business with real estate. Prospective buyers will be provided with a confidentiality agreement prior to accessing the businesses’ financial information.
  • In business since 1973, well respected in the industry and community
  • 2018 Revenues of $1,736,000 with 3 yr avg cash flow of $388,000
  • Revenue growth of nearly 7% from 2016-2018 with Diverse Revenue Sources
  • Diverse Revenue Sources: Equipment Rental, Labor & Repair, Equipment & Parts Sales, Hitch Sales & Installation, Labor & Delivery of Equipment etc
  • 3.52 ± acres with an 8,000 SF Store/Warehouse & 7,852 SF Warehouse
  • Key personnel wish to remain with the business
  • Strong internal systems to ensure smooth ongoing business operations
  • Among the top 10 in Florida rental store revenues according to DatabaseUSA.com
  • Local economy experiencing tremendous growth

1 Spaces

Standard Retail
1
8/19/2019 12:00:00 AM 9/6/2019 4:30:16 PM
Kori Billings
Commercial Sales Associate
Commercial Asset Partners Realty

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