An east Wichita motorcycle dealership has put its building on the market, its revenue squeezed by the economic downturn.
NMotion Yamaha, 12012 E. Kellogg, has put its 17,767-square-foot dealership on the market with NAI John T. Arnold Associates. Asking price is $1.6 million, about a half-million more than the company paid for the building.
Owner Mike Carney said the reasons for the sale are two-fold.
"We didn't get a large ... brand — Suzuki — and basically, the bottom dropped out of the motorcycle market," Carney said.
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Sales remain down each of the first four months of 2010, Carney said, about a million dollars from the company's peak. The company also operates an eBay store selling motorcycle parts.
"The only difference is last May we cut our staff in half," he said. "The problem is buyers can't get any financing, or they have to have very good credit. A lot of people say the economy is turning around, so we're hoping that will loosen up."
The East Kellogg location, formerly a Fox Collision shop before the high-profile auto repair chain went bankrupt, "isn't a must-sell," Carney said.
But if a buyer can be found, the dealership will look for a new east-side location.
"We have to stay on the east side," Carney said. "We have to be 10 miles from our competition, and we're right at the 10-mile line."
The dealership, located at the entry to Lowe's and Wal-Mart on East Kellogg, includes 17 overhead doors, said broker Don Arnold of NAI John T. Arnold.
"It's a great facility in a fantastic location, and they have a little extra room because they didn't get the extra brand," Arnold said.
The building could be used for a car dealership that needs a big interior showroom, Arnold said.
It also could be used as a body shop, a high-end boat dealership or could be remodeled with glass storefronts into a retail showroom.
Minus an offer, though, Carney's dealership is content to stay put and wait out the economic downturn.
"We're not unlike any other guy in Wichita," Carney said. "We look at the aviation news day by day and we see what's going on.
"I do think the fact that there's been such a drag on bike sales the last 14 months that after a while there has to be a pent-up demand where people want a bike and will find a way to get one."