Super Market Brooklyn NY

Brooklyn, NY (Kings County)

Seller Financing Available
SuperMarket Nets $385k

Asking Price:$1,175,000

Cash Flow:$385,000

Gross Revenue:$2,950,000

EBITDA:N/A

FF&E:$325,000

Inventory:$180,000*

Rate/Sq. Ft.:$9.96

Established:1970

*not included in asking price.

Super Market Brooklyn NY

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Business Description

Wonderful business opportunity to own this long standing profitable 40-year-old supermarket in a highly populated business area of Brooklyn, New York. This fully equipped food market offers all of the necessary food departments to fully service their loyal clientele. The business has a 2015 gross yearly income of $2,950,000 and a verifiable net yearly income of $385,000. The business gross sales consist of 40% produce, 30% grocery and 30% deli. Additionally, the market rents out a portion of the facility to a florist and bakery which represents a yearly rental income of $31,200. They have built a reputation on exceptional customer service, the highest quality fresh foods brought to your table and an unsurpassable commitment to the communities in which they do business. This food service company is located in the Sheepsheads Bay area of Brooklyn, New York as a family-owned business that is well known in the general community. They strive to provide exceptional quality, value and customer service and hope to further develop their reputation as a dependable food source. Their mission is to simply be the best food retailer in their area of Brooklyn, New York. They will continually offer the best service and satisfy the varied needs of the people, their customers, associates and community. They pledge to maintain the highest standards of trust, loyalty, integrity and quality and to provide the best service, the finest, freshest product and the cleanest facility. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent and dependable investment return to the owner operator prior to business debt service. This industry does not require government agency approval to purchase. The business is located on an active commercial area of Brooklyn, New York on a convenient avenue and close to the subway train systems. This retail facility which consist of 9,100 square feet has a modern attractive appearance. The business is on an active avenue with many other commercial successful businesses which attract a huge volume of daily workers and shoppers with continued demand for this particular industry. This business has fourteen full & part time employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll is approximately $26,000. The business has an assignable commercial lease which expires 2032-01-01 plus additional options, with a monthly rent of $9,400 less rental income of $2,600 net rent of $6,800, cost per square foot is $9.96 and rent security $20,000. The business is located in a free stranding facility which consists of nine thousand, 9,000 square feet and has a capacity for approximately eighty customers. The business assets have an estimated value of $325,000 and the sale consists of a fully equipped commercial 9,100 square foot supermarket, which includes displays, various shelving units, POS system, tables, computers, software, refrigeration, freezers, 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. The facility has appropriate municipal parking near to the business facility. The business is active seven days per week, with hours from 7:00 am to 10:00 pm. The sale includes a certificate of occupancy from the particular municipality and the required state or city licenses to conduct its day to day retail business. The owner / seller will remain post-closing in order to supply an appropriate transitional period to the new operator. The owner and family is relocating out of the state of New York. The business presently has a very basic marketing system, no web site or delivery and if improved can further develop the business cash flow. To the best of our knowledge due to various circumstances, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser. The 2015 yearly gross income is $2,950,000 and the business has a yearly net income of $385,000 based on an owner operator and prior to debt service. The business has been valued at $1,175,000 based on a multiple of the net yearly income and the sale includes the value of the specific business assets, seller financing has been approved to a qualified buyer with a minimum of 35% down payment, collateral and credit rating review. Inventory represents approximately $180,000 wholesale value and dollar for dollars paid at closing. 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 does Not represent this particular business opportunity.

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Leased
Building Sq. Ft.:
N/A
Lease Expiration:
10/1/2032
Employees:
Fourteen
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The business is located on an active commercial area of Brooklyn, New York on a convenient avenue and close to the subway train systems. This retail facility which consist of 9,100 square feet has a modern attractive appearance. The business is on an active avenue with many other commercial successful businesses which attract a huge volume of daily workers and shoppers with continued demand for this particular industry.
Competition:
To the best of our knowledge due to various circumstances, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.
Growth & Expansion:
The business presently has a very basic marketing system, no web site or delivery and if improved can further develop the business cash flow.
Financing:
35% down Payment required
Support & Training:
The owner / seller will remain post-closing in order to supply an appropriate transitional period to the new operator.
Reason for Selling:
Relocating our of the state.

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Ron Cervelli

Business Listed By:
Ron Cervelli

Regal Consulting Corp.

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