Description

This modern Wine / Liquor & Lotto business is priced to sell and located in Northern New Jersey, Bergen County, New Jersey in the city of Fort Lee and minutes from the George Washington Bridge. The business produces gross yearly sales of $15,000 weekly and a consistent net yearly income to the owner operator. This profitable two thousand square foot facility is conveniently located on an active county road with appropriate parking. 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 and has substantial growth potential. Due to the liquor license requirements, this industry requires government agency approval to purchase. The business is located in a highly populated urban city with a huge volume of businesses that attract daily shoppers and workers. The business is located in Fort Lee, Northern New Jersey, Bergen County, near the George Washington Bridge. This retail facility which consist of 1,995 square feet has a clean modern professional appearance. The business is also located on an active commercial avenue with various other successful businesses. This business has two-part time employee who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $1,950. The business has an assignable commercial lease which expires September 30, 2028 plus additional options, with a monthly rent of $7,000, cost per square foot is $42. and rent security $21,000. This business which is located on a commercial avenue consists of 1,995 square feet has a capacity for approximately forty five customers. The business assets are estimated at approximately $375,000 based on replacement value and the sale consists of a fully equipped retail liquor store with lotto, a valuable liquor license, refrigeration units, various 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 private parking on site as part of the commercial lease. The business is active seven days per week, with hours from 11:00 am to 10:00 pm. This transaction will include a New Jersey State issued distribution liquor license with a value of $350,000, Lotto license approval, a certificate of occupancy from the municipality and the required city licenses to conduct its day to day business.A training period will be supplied and the owner will remain post-closing for a minimum of 30 days in order to supply an appropriate transitional period to the new operator. The present owner is absentee and is involved in an alternative activity. The business requires on site management, presently has a limited marketing plan, poor web site and if improved can further develop the business bottom line net income. Due to the valuable and unavailable liquor license and to the best of our knowledge, 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 $750,000 and the business has a yearly net income of $87,000 based on an owner operator and prior to debt service.

Posted Nov 1, 2016

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