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Downtown Deli/Produce/Grocery Market – Sales $60,000/Week

  • March 18, 2021 10:26 am
  • New York
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$1,500,000

Overview

  • Revenue : $3,000,000
  • Cash Flow : $450,000

Description

Business Description

This is a two years young grocery/deli/produce market at a busy intersection of a bustling downtown neighborhood in Manhattan with tons of upside potential. The current owner converted a non-descript deli into this clean, well-organized, efficient market with friendly and helpful staff and grew sales from nothing to the current $3 million per year. And there still is room to grow by adding products and services (see Strengths/Opportunities below). Features include a long lease, 100-foot frontage on two streets, 2,400 vented SF on the ground floor plus a full, 2,400 SF basement kitchen complete with venting and five walk-ins. Products include groceries, organic produce, coffee, cigarettes, a full deli with grill, and a serving island with hot and cold food selections by the pound.

Hours: Open 24 Hours Daily.

Strengths / Opportunities
Strengths: Location, size, reputation for quality and service.
Opportunities: Add lottery, beer sales, and catering. Increase local marketing.

Lease: Approximately 2,400 sf ground floor, corner location with 100 feet of frontage on two sides. Plus, there is a 2,400sf basement with a full kitchen and storage, including five walk-ins. Rent is $17,000/month. Real estate taxes additional. Eight (8) years remain on the 10-year lease plus there is an additional five-year option.

The Transaction: The deal structure will be an asset sale. The reason for sale is the sellers’ desire to retire. Owner will train for two weeks at no charge. The asking price is $1.5 million. Seller financing up to $250,000 available to qualified buyers.


Detailed Information

Location: New York, NY

Real Estate: Leased

Building SF:2,400

Lease Expiration:12/31/2025

Employees:14

Furniture, Fixtures, & Equipment (FF&E): Included in the asking price

Financing:250000.00

Support & Training:2 weeks

Reason for Selling: other business interests

Investment Details:

Purchase shares in this supermarket for as low as $500.

Location

New York, NY (New York County),New York