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Branded Supermarket in busy shopping center location. Priced To Sell.

  • March 18, 2021 9:21 am
  • Pennsylvania
3-1
$1,000,000

Overview

  • Revenue : $4,000,000
  • Cash Flow : $374,000

Description

Business Description

High traffic, full service supermarket in fully rented shopping center.
Excellent rent and long term lease.
The shopping center has an excellent mix of service and retail businesses.
High visibility on the main road in the city.
The closest competition is between 2-3 miles away, on the other side of the highway dividing the town..
Surrounded by big box retail and service businesses and adjacent to the towns densely populated residential neighborhoods.
Current county residential count is over 80,000 with 60% Caucasian and 40% Hispanic. The supermarket has an extensive selection of ethnic food products.
The county has experienced high population growth with the introduction of major new industries in manufacturing, distribution and logistics. There are also major schools and colleges.
Semi-absentee owner operated.
Owner lives 2 hours drive from the store and comes in 3 days each week.
Excellent opportunity for an owner/operator to grow sales.

Detailed Information

Location: Luzerne County, PA
Inventory: Not included in asking price
Real Estate: Leased
Building SF: 22,500
Lease Expiration: 12/31/2049
Employees: 18 FT 10 PT
Facilities: 22,500 SF store. Upgraded fixtures & fittings & equipment. Full kitchen. New POS and security camera setup. Low rent lease at $6,600/Month with CAM $3.200/Month. Rent increases 10% at the END of each 5 year term. Rent term left is 29 years.
Competition: Closest competition is 2-3 miles away on the other side of the highway dividing the town. The town has experienced major growth in the Hispanic population over the past 10 years and this supermarket has the most extensive product mix catering to this customer base. Store is clean, well merchandised, competitively priced with friendly staff.
Growth & Expansion: The store has a fully equipped kitchen that is not currently used. This should be used for prepared meals to-go, which is in high demand. Currently each department has a manager. There is major upside potential from the deli and meat departments, which are not maximizing their sales potential. Possible addition of a dedicated fresh fish counter. The supermarket needs a robust website for online deliver and curbside pickup orders. There is also a need for a dedicated social media advertising platform, with customer loyalty programs to build the customer community.
Financing: Limited Seller Financing to qualified buyer.
Support & Training: Owner will transition.
Reason for Selling: Relocating.
Investment Details: Purchase shares in this supermarket for as low as $500.

Location

Luzerne County, PA,Pennsylvania