Description Convenience Store, Lotto and Blimpie Food Mart located in a highly active commercial area of Union County, New Jersey. The business has a gross yearly income of $312,000 and a dependable net income of $72,000. The owner must sell due to his relocation out of the US, to Canada and has priced the business most aggressively and well below fair market value.
The sale includes a long term commercial lease agreement and all inventory. The facility is located in a high volume commercial mall with various other businesses. The sale includes a fully equipped Convenience Store Mart and a Blimpie fast food service, including a prep kitchen, refrigeration & freezer units, POS system, displays, shelving, tables, computers, including all the necessary equipment to maintain the day to day business operation.
This particular business has two employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $3,335. The business has an assignable commercial lease which expires 2025-01-01 plus additional options, with a monthly rent of $5,700 and rent security $15,000. The facility which consists of 1,500 square feet has a capacity for approximately twenty five customers, including a rear area for storage and office. The facility has appropriate mall private parking on site as part of the commercial lease. The business is active six days per week, with hours from 6:00 am to 8:30 pm.
The sale includes Lotto approval, franchise approval, a certificate of occupancy from the particular municipality and the required licenses to serve food from the city. This is a solid business opportunity and based on the asking price, required down payment and yearly net income, this business expect to supply a 29% investment return to the owner operator.