Seller Financing Available
Gross Revenue: $500,000
Lease Rate/Sq. Ft.: $24.50
* not included in asking price.
C-Store & Lotto
Modern and highly profitable Convenience & Stationary retail store business located in Northern New Jersey and in the County of Bergen. The business has a 2015 gross yearly income of $500,000 and a net yearly income of $50,000. The business has a net yearly Lotto income of $85,000. The owner has elected to retire from this business after many successful years in this retail service industry. This business transaction sale consists of a fully equipped commercial convenience and stationary retail store, which includes displays, shelving, POS system, racks, tables, lotto equipment including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. This particular business has two employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $5,115. The business has an assignable commercial lease which expires 2025-01-01 plus additional options, with a monthly rent of $4,400, cost per square feet is $24.50, 3% yearly rent increases and rent security of approximately $8,000. The business is located in a commercial strip mall which consists of 1,345 square feet and has a capacity for approximately twenty-five customers. The facility has appropriate private mall parking on site as part of the commercial lease. The business is active seven days per week, with hours from 5:00 am to 9:00 pm. The sale includes a certificate of occupancy from the particular municipality, Lotto license and the required city licenses to conduct its day to day business. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expect to supply a consistent investment return to the owner operator prior to debt service. The 2015 yearly gross income is $500,000 and the business has a yearly net income of $50,000 which includes Lotto, based on an owner operator and prior to debt service. The business has been valued at $175,000 based on a multiple of the net yearly income and the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment and credit rating. Please do not disturb business, this sale is absolutely confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo may not represent this particular business.
Inventory: Not included in asking price
Real Estate: Leased
Building SF: 1,345
Lease Expiration: 1/1/2025
Furniture, Fixtures, & Equipment (FF&E): Included in asking price
Facilities: This is an attractive retail facility which consist of 1,345 square feet with a clean attractive appearance. The business is located on a busy county road with a high volume of drive by vehicles. The business is also in a mid-size commercial mall with various other active and successful businesses. This highly profitable business opportunity is located in Northern New Jersey, Bergen County, which consists of various affluent communities with continued demand for this particular industry.
Competition: To the best of our knowledge, no other new competitors are expected near to this business and the owner has agreed to supply an appropriate non-compete agreement to the purchaser.
Growth & Expansion: The business requires on site ownership and a marketing plan and if improved can further developed the business bottom line profit to the owner.
Financing: Some seller financing is available to qualified buyers.
Support & Training: The owner will remain post-closing for 30 days and supply a transitional period.
Reason for Selling: Owner has an alternative retail business out of area.
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