THIS MAY BE THE END..

[parkerpowersports]

i started Parker Power Sports four years ago this month, and this may be the last month. For sale signs went up a few months or so ago and ive been a complete mess ever since. cant keep waiting hoping that everything will work out.

 

[Inland Air Balance]

As a business owner myself, I couldn't imagine the pain and frustration of throwing in the towel. But I do understand having to cut your losses. Sorry to hear it.

 

[RiverDave]

Can't you just move to another location?

 

[brgrcru]

Has not been easy with most types of businesses the last few years. We have hung in there, but have had to do things, we would of never have done in the past. Good luck.

 

[RiverDave]

As a business owner myself, I couldn't imagine the pain and frustration of throwing in the towel. But I do understand having to cut your losses. Sorry to hear it.

The building he is in went up for sale, not the business..

 

[parkerpowersports]

cant afford to move nor are there any buildings available that suit my needs, 3 phase power being one, and ive put a ton of hours and dollars into this place to make it home.

 

[shintoooo]

Why would the potential new owner not want you as a tenant?

 

[boatpi]

$275K

http://www.robertgoryrealty.com/browse_main.php?Class=5

 

[parkerpowersports]

they might or they might tell me to kick rocks or they might raise the rent.. ive gone crazy trying to figure out how to buy it but nothing ever seems to pan out.

 

[parkerpowersports]

$275K

http://www.robertgoryrealty.com/browse_main.php?Class=5

$230 is what she will take from me. maybe less as she is some what desperate to sell

 

[530RL]

Maybe there is a deal here. PM me what you pay for rent, term remaining, whether or not you are profitable, current Phase I, and any other information you may have.

 

[parkerpowersports]

bank wants a phase 1 also, there are questions as to if results would come back bad due to the lube bay

 

[boatpi]

I already PM him, this might make $$ sense, but closer to 200K-$220K, and more questions need to be answered. My ears are open and other investors should be too.

 

[shintoooo]

I'm interested also if we want to get 3-4 of us and put a deal together :hmm

 

[boatpi]

Are the lifts in the ground or above, any in ground storage tanks even if abandoned?

 

[JBS]

Sorry to read this Nate.

Strange have not been in Parker for months and was there yesterday. Noticed the sign and thought Uh-oh

Do not purchase someone else's problem Get the Phase 1 inspection.

Good Luck

 

[Yldboyz]

I'm interested also if we want to get 3-4 of us and put a deal together :hmm

It sounds like a good deal, but too late for me. My son is already trying to figure out what college to go to.

 

[shintoooo]

Is the seller required to provide a phase 1 inspection?

 

[parkerpowersports]

Are the lifts in the ground or above, any in ground storage tanks even if abandoned?

i have one in ground lift not currently working, 2 pits, one 2 post above ground lift and one small pad lift, all the equipment is mine. There is one waste oil tank underground size unknown, at least 1000 gallons

 

[parkerpowersports]

Is the seller required to provide a phase 1 inspection?

i dont think so, bank wanted me to pay for it

 

[530RL]

Banks require a Phase I to take advantage of the safe harbor. I can not imagine an investor who has any experience or net worth purchasing this absent a Phase I, and to the extent it has evidence of contamination, a Phase II. If one does not get one, and you purchase it, you can have some significant personal liability for clean up and it is not capped at your purchase price.

To the extent it has in ground lifts, it would be interesting to see if they were changed out to a vegetable based biodegradable oil.

 

[530RL]

i have one in ground lift not currently working, 2 pits, one 2 post above ground lift and one small pad lift, all the equipment is mine. There is one waste oil tank underground size unknown, at least 1000 gallons

Is the tank registered with the state?

 

[parkerpowersports]

Is the tank registered with the state?

were talking about a tank that was installed in Parker, 30 or so years ago. i doubt it

 

[parkerpowersports]

Banks require a Phase I to take advantage of the safe harbor. I can not imagine an investor who has any experience or net worth purchasing this absent a Phase I, and to the extent it has evidence of contamination, a Phase II. If one does not get one, and you purchase it, you can have some significant personal liability for clean up and it is not capped at your purchase price.

To the extent it has in ground lifts, it would be interesting to see if they were changed out to a vegetable based biodegradable oil.

i already said that i dont think the phase one results would be good, so what happens when it comes back bad?

 

[shintoooo]

i already said that i dont think the phase one results would be good, so what happens when it comes back bad?

You would need to see how much it would cost to pass the inspection and negotiate that into the purchase price or better yet have it taken care of before you or anyone purchases the property.

 

[parkerpowersports]

thats going to open a can of worms in itself.

 

[Tom Brown]

Why would the potential new owner not want you as a tenant?

Indeed.

they might or they might tell me to kick rocks or they might raise the rent.. ive gone crazy trying to figure out how to buy it but nothing ever seems to pan out.

As best I can figure out, your main problem is the viability of your business.

If there are environmental issues with the property, it's going to be difficult to sell so I wouldn't expect that for sale sign to move any time soon. That sign probably isn't helping your business, though.

I'd work on making your business viable. If the lube bay isn't profitable, get rid of it. Make it work, any way you have to. That will help your business survive, regardless of where you might land and you could easily land exactly where you are.

Commercial real estate is tough to sell and always takes a long time. It's not uncommon for buildings to sit empty for years.

You most likely have some time. Work on business viability. It will solve all other problems.

 

[Tom Brown]

One more thing. Save this thread to your hard disk and then ask Dave to delete it. It's not going to help you.

Stay positive. Those bullets whizzing by are celebratory! :thumbsup

 

[RiverDave]

cant afford to move nor are there any buildings available that suit my needs, 3 phase power being one, and ive put a ton of hours and dollars into this place to make it home.

What do you need 3 phase for? Is a phase converter an option? Seems when I was looking there was a few buildings with 3 phase in town, but that was a year or two ago.

RD

 

[craiger88]

You would need to see how much it would cost to pass the inspection and negotiate that into the purchase price or better yet have it taken care of before you or anyone purchases the property.

This!

I think most investors would definitely want a Phase I and II just to start. If the tank is not registered, I would think most interested parties would walk. The only way for a purchase to work would be to agree on price with an agreed upon remediation hold back. An initial Phase I should be less than $1,500...of course I'm no expert on fees in Parker.

 

[AzGeo]

But I would consider 'M1/C2' properties in that area. I would like to see all of the information you have for those lots and their 'plus and minus' features, along with all available local and state reports. That property may be 'just right' or it also could be much better to move across or down the street and build a new modern, clean facility. I prefer to be the only investor/land owner, in cases like this. Please PM me with questions and information as to the details of your venture.

 

[RiverDave]

Just another something to think about Nate.. Maybe move the biz to Havasu? There's lots of buildings up here, and you'd probably up your work load quite a bit. Commute is 25 minutes.

RD

 

[waterhorse]

Is this deeded property? The reason I ask is I have been told that most commercial property in the city limit of Parker is CRIT land.

 

[22Howard]

Is a phase inspection required for the purchase of any commercial property in Parker? Or does this only apply to business's that have known fuels/solvents etc.?

 

[OCMerrill]

The longer that for sale sign is there the better of you are. If the property becomes difficult to sell the owner may just carry your note. Start saving every nickle, sell stuff your not using, and live like the cheapest person you have ever met. That way in a year from now ($250k on possible dirty soil?) when the owner is getting tired of no takers...Hello owner carry and you will have a little down to chuck at her. You will have to think 10 year note possibly so the payment may be a little aggressive for you.

I was looking at some of the stuff that realtor has listed. Unless he is a miracle salesman he's not moving 90% of that shit anytime soon.

There are a few people here that can take you boating.

 

[Hullbilly]

i started Parker Power Sports four years ago this month, and this may be the last month. For sale signs went up a few months or so ago and ive been a complete mess ever since. cant keep waiting hoping that everything will work out.

Sorry to hear about this, I hate hearing about small businesses having to close their doors. I hope some saving opportunity presents itself to you.