Benjamin Moore True Value Hardware Store for Sale in Midtown Eastside

Manhattan, NY (New York County)

Benjamin Moore True Value Hardware Store for Sale in Midtown Eastside

Asking Price:$694,503

Cash Flow:N/A

Gross Revenue:N/A





Benjamin Moore True Value Hardware Store for Sale in Midtown Eastside

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Business Description

Currently operating 7 days per week. Steady revenue, 2,300 SF Ground, no basement, 2 storage rooms on the ground floor, low rent, asking $550K for key money including the inventory, motivated seller, lots of potential to grow with proper management and/or experienced operator. Will train for 3 months free of charge if necessary. This business has 2 franchise trade names operating simultaneously: Benjamine Moore & True Value. Both partners want to retire and spend more time with their grandchildren. Must contact the exclusive broker for details and to show & must be discreet during all showings. For showings and questions, contact Thomas at 917-837-1607. As per seller's request, under no circumstances should you inquire about this business sale with any of the restaurant employees. Anybody who violates this request will automatically be disqualified from the bidding process.

Located in the heart of Murray Hill District. Very close to public transportation as well as taxis. Conveniently located to all shopping centers, theaters, NYU hospital, public library, etc

Detailed Information

Approximately 9 1/2 years remaining on the current lease. Currently at $13,660.43 per month with 5 percent annual escalation Key money and other costs: Key money including the inventory: $650,000 True Value stock value as of 12/31/15: $44,502.53 ----------------------------------------------------------- Approximate total due at closing: $694,502.53 (priced to sell)
Very unique in a sense that Benjamin Moore has a protection rights of 10 block radius and True Value has a protection rights of 5 block radius. Neither of these 2 franchises are issuing any new stores in Manhattan.
Growth & Expansion:
Can expand its current operating hours for motivated and/or energetic buyer. . And both Benjamin Moore & True Value franchises are no longer giving out franchise locations in Manhattan.
Support & Training:
Will provide up to 3 months of free training for beginners. If more than 3 months is required, some negotiation of the salary must take place. Owner's financing is not available. Minimum $300K cash and the remainder in bank loan is acceptable.
Reason for Selling:
Need to retire in order to spend more time with grandchildren

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Thomas Lee

Business Listed By:
Thomas Lee

TJL Realty International LLC

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