LAS VEGAS – Las Vegas swim school and attached home for sale for $485,000.
Is your local market saturated with swim schools? Have you thought about expansion, but don’t know how to take the next step?
Are you interested in the following:
• Developing a new market area
• Increasing your business size/profit
• Opening a second or third location
This is a very unique property/location opportunity!
• Existing transferable non-conditional use permit to new owners
• Proven business location – swim school successfully operated at this location for more than 15 years!
• Local economy growing
• Local property values steadily increasing
• Only a handful of swim schools in the Las Vegas Valley (population: almost 3 million)
• Negligible inventory required for this business; therefore, your money is not tied up in inventory
At its peak, the existing swim school was acknowledged as one of the largest and most successful backyard seasonal swim schools in the United States.
Las Vegas Swim School Facility
• 20 x 44 ft. rectangular pool with 6 inches to 8.5 foot depth with diving board
• Shallow end shelf stairs have a 1 ft. deep, 1.5 ft. length and 20 ft. width teaching platform
• Electronically-operated safety pool cover installed beneath swim deck
• Facility has natural gas and solar heating
• Prewired for underwater sound
• All plumbing including solar integrated into walls or hidden on the roof
• Maintains an attractive residential design
Out buildings/Customer viewing area/Customer parking
• Two handicapped accessible restrooms, each 10 x10 feet with changing counter and handicapped accessible showers
• A 10 x 20 foot building houses two rooms: Commercial pool equipment and natural gas heater, and room for teacher’s cubby holes and break area
• Client parking on two sides of the swim school’s 1/2 acre property. Also, facility is diagonally across from an elementary school parking lot with unlimited street parking
• A 50 x 15 foot covered patio has three ceiling fans for customer comfort in grassy viewing area
• Newly-installed and concealed solar panels for pool heating
• Wrought-iron isolation fence separates pool area and viewing area, with two gate entrances
• Side entrance to swim school for separation of business and personal residence
Las Vegas Swim School Photo Gallery
The Financial Opportunity
Projected 2014 Gross Income*: $260,000
Projected owner Total Compensation*: $135,000 (Profit, Pool Rental back to Home Owner, and Add-backs to Owner)
(More detailed breakdown available on request.)
Projected business expenses*: $125,000 (Advertising, Employee Salaries, Insurance, Office Supplies, Maintenance, Repairs, Licenses, Fees, etc.)
*Extrapolated from the last full instructional summer season using the current year pricing equivalent by averaging of five functioning Las Vegas, Nevada swim schools.
Opinion of Business Value – $310,000
This was developed as a combination of widely used and professionally accepted business/asset evaluator and business broker methods including the most accepted method using Multiple of Discretionary Earning (completed by a well-respected Las Vegas, NV Business Broker). Available upon request.
Selling Price of Swim School Facility and Custom Home Is Negotiable!
Current value of home: $372,000
Current asking price of Swim School: $155,000
Total Asking Price (Swim School Facility + Custom Home): $527,000
Investment return – Depending on how you decided to handle the owners’ compensation, it is feasible that within two- to three-year period that the swim school business could be completely paid off.
The Custom Home
Designed to incorporate a swim school facility while maintaining the privacy of a separate residence.
• Centrally located in the Las Vegas Valley at 2790 S. Torrey Pines Dr., near Rainbow Blvd. and Sahara Ave.
• 2450 sq. ft. of living space
• 4 bedrooms
• 2 full baths with edged glass windows and Jacuzzi in master bath (in addition to the two handicapped assessable restrooms in the swim school facility)
• Vaulted ceilings
• Formal dining room
• Formal living room
• Large family room with brick fireplace focal point
• Fireplaces in both the family room and master bedroom
• Quality ceiling fans in formal living room, mirrored kitchen dining nook, vaulted ceiling family room and all four bedrooms
• Built with top-of-the-line construction and numerous upgrades
• Built-in central vacuum system
• Four available phone lines for business and private use
• In-floor safe
• 3 car oversized, finished garage
• Corner ½ acre lot
Financing the Purchase
There has never been a better time to finance homes and businesses than today. Interest rates are at an all-time low. Moneys are available through various sources. FHA loans, Conventional loans, Small Business Association loans and “Hard-money” loans are all available. Each type of loan requires the buyer to qualify with different requirements depending on the type. Then, the stronger the buyers’ qualifications including (credit history, credit score and asset-liability ratio), the better the loan, the lower the down payment and the lower the interest rate.
There are options to finance this business/home. The road to financing can have a number of twists and turns. Other than an out-right cash buy-out, the most common approach would be two loans: one for the home and one for the business. The sellers have a contact at Nevada State Bank, a Preferred Lender for the Small Business Association allowing the bank to underwrite its own loans.
In addition, they have a number of home loan options. The sellers also have a contact with a loan officer for a private mortgage company. That person handles not only business loans but also FHA and Conventional home loans. Comparing competitive loan opportunities will enhance the buyers’ position to seek and establish the most beneficial loan from their perspective. Finally, the sellers are willing to discuss carrying some of the debt depending on the amount down and length of the loan.
The following are examples of the kinds, types, and interest rates available as of the date of printing of this brochure. These examples are intended to describe the present market and are not binding in any way or not an offer of a contract between the sellers and buyers. Their intent is only to suggest alternatives for the buyers’ consideration.
Home Loan Options:
• FHA Loans (must reside in the home financed): 3.5% down with no Mortgage Insurance and a 3.125% approximate interest rate.
• Regular Conventional Loan: 20% down with no Mortgage Insurance and a 3.4 % approximate interest rate.
• Present day Conventional Loan: 5% down with no Mortgage Insurance and a 4.5% approximate interest rate.
Business Loan Options:
• Small Business Association loans: approximate 7-8% interest rate.
• Hard Money loans: secured through private mortgage lenders. Specifics are unknown to the seller but contacts are available for further information.
• Grants: Female and minority business owners have special loan considerations available.
Facility History
The swim school facility/custom home at 2790 S. Torrey Pines Dr., Las Vegas, NV 89146 was designed and built in 1985 to accommodate a seasonal swim school and a private personal resident. The owners accomplished that task with a well laid out swim school facility without interfering with the intimacy of a private residence. Care in the details led to a private entrance to the swim school facility with telephone access to the business office without interrupting the personal atmosphere of the residence.
Swimnastics Swim School was established and began operations as Bubble Swim School, Inc. in 1973. The current owner bought out a partner and began swimming instruction at the Torrey Pines location in May of 1985. For 28 years including 15 years at the present location, built a clientele and student load of 350 students each day serviced by 25 part-time and full-time staff. At its peak, it was acknowledged as one of the largest seasonal home swim schools in the entire United States. Bubble Swim School, Inc. was sold in 2001 and replaced by Swimnastics Swim School. A major contributing factor for success is the location in central Las Vegas Valley, surrounded and adjacent to upper level income homes, and an extremely valuable unconditional use permit on the property for a swim school business with outside employees. These factors and the leadership and teaching knowledge of the owner led this operation to extraordinary achievements.
Peggy T. Burger, Owner
Peggy T. Burger, a lifelong water safety and drowning prevention advocate, demonstrated her entrepreneurship by developing a new swim business into and exceptional operation. Her business knowledge in areas such as personal supervision/development, finance, vision, and client orientated values and practices formed the foundation of her success. As her business grew, so did she. She became involved in local/national/international swimming and safety organizations. Her motivation was to learn and then implement concepts to bring the most proven and effective teaching, safety, and business ideas ensuring her clients received the best opportunities to learn both how to swim and how to be safe in and around water. These experiences and her unique swimming instructional methodology with her guiding principle of “Gentle Ways are Best”, led her business to success beyond expectations.
She was quickly recognized in local, regional, national and international venues. In Southern Nevada, she became a recognized expert in water safety and drowning prevention often interviewed by various media. She was the only American invited to speak at the World Aquatic Babies Conference in France in 1999. Ms. Burger co-authored The A B C & D’s of Drowning Prevention working with the Southern Nevada Health District and has work on every update for this program since 1998. She co-authored “The A B C & D’s of Drowning Prevention for Apartment Tenants.” This program is to help decrease the submersion rate in Clark County, Nevada which consists primarily of Hispanic children. Among the many awards and accolades received, the most coveted are the first ever Humanitarian Awards presented to her by the United States Swim School Association and Safe Kids Clark County in 2007. She also served as Vice President of the United States Swim School Association.
For additional information, contact Patrick McCombs at pmccombs@gavishrealestate.com or 360-298-1461.