Business Summary:
Excellent Fairfield County, Route 1 location. Growth area; according to the Fairfield Town, Community & Economic Development; “ Plans call for the construction of a new commuter rail station and nearly a million square feet of commercial office space\\\\\\\". Seller owns another liquor store (approx. 14 years), and does not want the responsibilities of both. The seller had to become involved with this store upon his daughter becoming ill. The daughter had operated the store alone/independently for approximately 9+ years. Cash required: $150,000.00 plus 25% Wholesale Inventory Value. Owner financing: $129,000.00 at 7 % for 5 years
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| Facilities / Terms of Lease:
Proposed new 10 yr lease @ rates below current asking levels for the area. It includes all rates (details below) @ $25.09/sf. According to www.loopnet.com, one of the leading websites for sale/lease of commercial property, shows typical price for the area of $30/sf, or higher. Proposed @ $4,350/mo base, + proportionate share of prop. tax ($667(E)/mo currently) totals $5,017. Scheduled 9 year increases of 3.5%, or subject to C.P.I., whichever is greater. All yrs, plus proportionate share of RE taxes. The initial rate of $5,017/mo. is $25.09/sf. |
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| Potential
Growth/Expansion:
Very definite expansion possibilities within the framework of the existing store, too much space allocated to back room storage, can be converted to retail. Adding lottery would be a plus; bring commission dollars, and provide an overall increase in revenues, as a result of providing a one stop shopping for complementary products. |
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| Owner
willing to finance:
$129,000 at 7 % for 5 years |
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| Owner
willing to train:
Owner will advise. |
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Seller Reference Number: 1271BO
BusinessMart.com Listing Number: 53416 |
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