Active Food mart with Lotto located in highly active commercial area, Iron Bound section of Newark, NJ with a gross income of $1,013,000 and a solid net yearly income of $150,000. This active urban area consists of a huge population of residents and businesses which attract a consistent number of shoppers and workers. The business is located in a modern commercial mall with other successful businesses.
The owner is forced to sell due to an alternative successful business out of the particular area. The sale includes the inventory valued at approximately $80,000 and the seller will finance the transaction to a qualified buyer. The sale includes a fully turnkey operation, refrigeration & cooling units, numerous displays, various compressors, including various equipment required for this industry.
The building has a capacity for 88 customers, 3,500 square feet, one main floor no basement. This retail business has nine full time employees who are unaware of the pending sale and fully expected to remain post closing, monthly payroll approximately $9,000. This business location has municipal parking nearby to this business facility. he business is operational seven days weekly with hours from 8:00 am to 8:00 pm. This particular industry does not require any particular license other than a certificate of occupancy, health inspection and Lotto approval. The business has an assignable 6 year lease + option with a monthly rent of $7,800 and rent security of $10,000.
Based on the asking price, required down payment and net income this business should supply a 30% return to the owner operator prior to debt service. This is a safe business opportunity and must be seen to appreciate.