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NY Food Market for sale in Kings County, NY

Kings County, New York (NY)

Asking Price: Gross: Cash Flow:
$ 199,000 $ 700,000 $ 100,000

Furniture and Fixtures Value:
$ 79,000 (included in the asking price)

Business Summary:
Solid business opportunity for this highly successful, food market with a yearly gross income of $700,000 and a consistent net yearly income to the present owner operator. This market offers, food, lotto, retail liquor, cigarettes, and accepts food stamps. Since 1975, they have been fully engaged in the fabric of their Brooklyn New York Community. Their location enjoys a remarkably loyal following, which is no surprise; based on their products, pricing, service and the pride in every aspect of their business. Their goal is to remain a favorite neighborhood food market and caterer of choice by offering the highest quality foods and hard-to-find products supported by friendly, personalized, efficient service. This food market business has an assignable commercial lease which expires 2022, plus additional options, with a monthly rent of $4,217.33, with annual rent increases, cost per square foot is estimated at $20.24, and rent security of approximately $5,000. This company has three full / part time employees who are unaware of the pending sale, fully expected to remain post-closing, and the monthly payroll expense is approximately $9,300. The business has been valued / priced at $199,000 based on a multiple of the net yearly income which includes the value of the specific business assets. Also, seller bank financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. This is a dependable safe business opportunity. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this particular business opportunity.

 

   
Year Business was Established: 2007
   
Number of Employees: 3  
   
Facilities / Terms of Lease: The business is in highly populated area of Brooklyn, NY Benson Hurst which consists of various affluent and highly populated communities with continued demand for this food service and industry. This successful retail facility which consist of approximately 2,500 square feet, 50-foot street frontage and has a clean attractive appearance. The business is on a highly populated commercial avenue with various other active and successful businesses.  
   
Potential Growth/Expansion: This business has a limited marketing system, no delivery, no web site and if improved can further develop the business yearly gross sales.  
   
Competition: Although competitors presently exist in the industry, to the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.  
   
Owner willing to finance: Available to qualified buyer.  
   
Owner willing to train: The owner will remain after-closing and is prepared to supply an appropriate transitional period to the new owner / operator.  
   
Reason for selling: Owner is relocating out of state.  
   
Seller Reference Number: FMKT175
BusinessMart.com Listing Number: 246910
 

 

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For more info contact:

Ronald Cervelli

Regal Consulting Corp.
973-837-0808

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