Essex Liquor Store plus Building Rental
Essex County, New Jersey
| Asking Price: |
Gross: |
Cash Flow: |
| $1,450,000 |
$1,093,000 |
$244,097 |
Furniture and Fixtures Value:
$85,000 (included in the asking price)
Inventory Value:
$60,000 ( not included in the asking price)
Real Estate:
$950,000 (included in the asking price)
Business Summary:
This liquor store works at a 35% markup. Beer over 40%, Wine 50%, Liquor 35%, $1,000 weekly cigarette sales; bring down markup to 35%. Store sales heavy on singles, ½ pints and pints (Liquor) all at heavy markups. Store located in well lighted and secure area of city with very large educational facility located directly across street. Inhabitants in this area of city walk to this destination point for lottery and liquor. Street has 2 interior walls with 16 door refrigerator, cooler and key making machine building on 1st floor contains 2 other stores as tenants one 500sq.ft. Rent $1,023 another 600sq.ft paying 1,284 monthly. Second floor has 4 apartments two rents are 700 two are 750 monthly. Total net cash flow of store 181,613 and rental income 62, 484 is 244,097. Building has basement where liquor store has storage and tenants have use of dryer and washing machine. Store never had any problems and license is clean. License is worth $140,000. Liquor store can be enlarged working owner takes out salary of $31,200. At present owner is setting up separate utility meters for all tenants so they would pay their own bills. For further information, please contact 908-851-9040 Ext 285
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| Year
Business was Established: 1991 |
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| Number of Employees:
4 |
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| Facilities / Terms of Lease:
Liquor store w property 6 rented income- condition of apartments and stores recently redone- street parking store 1,400sq.ft plus storage basement 1,100sq.ft |
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| Potential
Growth/Expansion:
Store with adjoining wall can have lease cancelled and store can be enlarged into present operation. |
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| Competition:
This is only shopping complex in vicinity closest legion store over S blocks away- most customers walk to destination for lottery and liquor |
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| Owner
willing to finance:
$200,000 payable in 3 years at 8% interest. |
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| Owner
willing to train:
2 weeks |
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| Reason for selling:
After 19 years owner is tired and wishes to retire |
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| REQUEST MORE INFO |
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