Profitable food mart & convenience store business located in Essex County, a highly populated city, Clifton, New Jersey. The business can evidence $7,000 gross weekly sales and a consistent net yearly income to the owner operator. 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 solid investment return to the owner operator prior to debt service. This retail facility which consist of 2,500 square feet has an attractive appearance. The business is in a mid-size mall on an active commercial avenue with various other active and successful businesses. This opportunity is in Northern New Jersey, Essex County, which consists of various highly populated communities with continued demand for this food product. This business has four employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $5,800. The business has an assignable commercial lease which expires 2023-01-01 plus additional options, with a monthly rent of $4,900 all in, cost per square foot is $23.52 and rent security $10,000. The business is located on an active commercial avenue which consists of 2,500 square feet has a capacity for approximately fifty customers. The business fixed assets has an estimated value of approximately $90,000 specifically based on replacement cost and the sale consists of a fully equipped commercial retail store, which includes refrigeration & freezer units, displays, shelving, POS system, tables, computers, software 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 on site as part of the commercial lease. The business is active seven days per week, with hours from 6:30 am to 8:30 pm. The sale includes a certificate of occupancy from the municipality and the required food licenses from the city to conduct its day to day business. The owner will remain after-closing to supply an appropriate transitional period to the new operator. The owner has an alternative business opportunity. The business is new, with a limited marketing plan, and requires additional time to develop and improve the net income. 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 $400,000 and the business has a yearly net income of $80,000 based on an owner operator and prior to debt service. The business has been valued at $195,000 based on a multiple of the net yearly income including the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment, collateral 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 does Not represent this particular business opportunity.
Asking Price $195,000
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