New Convenience store Rent $1,850 PM Net $8000 PM Only $50,000 plus

Eustis, FL (Lake County)

New Convenience store Rent $1,850 PM Net $8000 PM  Only $50,000 plus

Asking Price:$5,000,000

Cash Flow:$60,000

Gross Revenue:$480,000

EBITDA:N/A

FF&E:$20,000

Inventory:N/A

Established:1985

New Convenience store Rent $1,850 PM Net $8000 PM Only $50,000 plus

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Business Description

A convenience store that has changed hands for over $100,000 can be bought for a token price of $50,000 and a rent of $1,850.per month plus sales tax.and property tax. The store has been there for years and is up for rent because the previous tenant left for personal reasons. The store has lotto that brings in $1,650 per month commission, has tobacco license along with a beer and wine license. A buyer will need a City license, County license, food license and a check cashing license if the buyer is going to offer this service. The Western Union, bill paying service and cell phone top-up service can also be added.
A buyer can just walk in and start making money from day one without a heavy investment or debt load as the landlord will have done it all. The store will require at least $50,000 that with the gas in the ground will amount to over $70,000 that the seller will finance with 50% down. First months rent and a security deposit of one month's rent. Utility deposit ($2,500), $100.00 each application fee for lotto and beer and wine license. About $60,000 total plus inventory should have you in the store and makes very good returns on your investment and a payroll for the owner each month. If you ever wanted your own business this is the way to go in this economy and with banks not lending money on businesses, no borrowing on homes, credit card cutting back, this is a way to obtain a cash business that can also do check cashing as well. You are paying for no good will, but getting it anyway as the customers will soon start coming back as this store has great parking and great demographics.

Detailed Information

Employees:
1
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
A free standing complete C store with walk in cooler and all of the shelving and counters plus drink equipment that has been a convenience store for years and has grossed as much as $90,000 a month, average was about $60,000 a month and a net profit of close to $100,000 a year. It has shelving equipment and some of the deli equipment all in it and about $25,000 of inventory. With an expected gross of $60,000 at 25% to 30% mark up Lotto Commission $1,200 a month, ATM commission $900 a month the expected owners benefit should be about $8,000 per month. Seller/ landlord has just put in a small amount of inventory and cut the store in half and opened the store up ready to sell to a new tenant. The picture is as the store was before the seller cut it in half.
Competition:
Yes their is always competition but this store always got its share as it has good parking and good visibility and was competitive in pricing and offered all services like Western Union and bill paying, check cashing etc, Rent is very reasonable and it always grossed about $50,000 to $60,000 per month with a lotto commission of about $1,200 per month ATM of about $900 so in about 3 months it will be making about $8,000. Landlord will grant a lease to suit for as long as a buyer requires. Once a buyer takes over this business and the past customers start coming back now it is open again and after 6 months it should be worth over $100,000 plus inventory in the brokers opinion.
Growth & Expansion:
This store will always give a very good living to an owner operator and one employee this is not a new store as it has been a store for 30 years but landlord closed it and split the store in two and now has opened it again, smaller but with half the rent. This is almost a start up and the seller/Landlord will assist and give some free rent while the customers are come back. Once it is up and running it will be worth about $100,000 plus inventory.
Financing:
0
Support & Training:
Landlord owned and operated the store for years and made enough money out of the store to buy the property and a business in Texas and now lives there full time. Seller will train and assist a buyer to operate the store and is just looking for a tenant so this is a cheap c store to get into and will be worth a lot very soon as it slowly builds back to its original gross sales and profits. Landlord will consider some free rent to a new tenant.
Reason for Selling:
Tenant operating store did not pay sales tax and run into trouble with Florida S

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John Price & Associates

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John Price

John Price Broker & Associates

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