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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Retail Wine & Liquor with Lotto
(Food & Beverage , Liquor Stores)
Bergen County , NJ
Listed Price: $ 375,000
Listing ID: LQST377

Listing DetailsGross Revenue: $ 752,568
Cash Flow: $ 85,000
FFE: $ 375,000 (Included in Price)
Inventory: $ 99,000
Reason for Sale:

The present owner is absentee and is involved in an alternative activity.


Training & Support:

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.


OperationsYear Established: 1995
Days & Hours of Operation: Mon.-Sun. 11am-10pm
Non-owner Payroll: $ 1,950
Employees: 2
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 19500
Monthly Rent: $ 7,000
Square Footage: 1995
Facilities:

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.


SummaryBusiness Description:

Wonderful business opportunity for this modern Wine / Liquor & Lotto business is priced to sell and located in Northern New Jersey, Bergen County and minutes from the George Washington Bridge. The business produces gross yearly sales of $14,500 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. Due to the liquor license requirements, this industry requires government agency approval to purchase. 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 $42.00 and rent security $19,500. 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. The business has been valued at $375,000 based on a multiple of the net yearly income and 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. Inventory is approximately $99,000. 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.


Competition:

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.


Potential Growth:

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.


Financing/Terms:

Available to a qualified buyer with an appropriate down payment.