139 N Hemlock St
Cannon Beach, OR 97110
Mariner Market · Retail Property For Sale

Rare opportunity to purchase an established and profitable business with building and land at an iconic location. On the main strip! Adjacent and abutting public parking with rare, dedicated, on-site parking for 10 spaces. Well maintained property with truck dock-high loading. Franchised Birkenstock business included with the sale. Building and land must be purchased with the Business. List price is $1,800,000 for the real estate and $1,500,000 for the business, total asking price of $3,300,000. Business P&L's show nearly $250,000 EBITDA for 2017 even after $180,000 +NNN being paid to the lease. That's about $430,000 in the Owner/User's pocket annually! For a quick breakdown of numbers, that's a 10 CAP on $180K on real estate for a $1.8M pricetag and 5X multiplier on $250K EBITDA for a $1.5M business pricetag. Seller will allow access (per due diligence contingency terms and conditions of the agreement) for Buyer to all of their relevant business documents, computers, registers, statements, etc. to verify, prove, and re-negotiate terms and conditions of the purchase agreement once a reasonable offer has been accepted. Check with your CPA about the new tax rules about pass-though entities getting 100% immediate depreciation on capital or tenant improvements. Talk to Listing agent (prior Deputy Assessor) before making capital improvements for some insights into how the County Tax Assessor's office typically works and how you might find property tax savings.