Fifty year old liquor & convenience store with lotto due to partnership separation with a gross yearly income of $395,000 located in an active urban city of Hudson County and Northern New Jersey.
This business also has additional income of Lotto $6,600 yearly net income, ATM $1,800 and various rebates of $7,800. The facility is 1,700 square feet with a walk up counter for fast service, commercial kitchen, and full basement used for store and walk in refrigeration units and a private office.
The owners are presently absentee inventors and out of the immediate area. The business transaction consists of owner financing with an appropriate down payment. The sale includes a valuable Distribution Liquor License, multiple refrigeration units, displays, shelving, POS system and various equipment required for this industry. The building has a legal capacity for 36 customers consisting of 1,700 square feet, on one main floor with a full basement used for storage and refrigeration. Adequate municipal parking is nearby and conveniently located close to this business. The business has four employees who are not aware of the pending sale and should remain post-closing and a monthly payroll of $6,000.
The business is active seven days weekly with hours from 6:00 am to 10:00 pm. The business has a New Jersey State license Retail Distribution Liquor License and is Lotto approved which a net yearly income of $ 6,600. The sale includes a lease 2023/01/01 with a $2,200 monthly rent and $4,000 security. Based on the asking price, required down payment and net income this business should supply a 17% return to the owner operator prior to debt service.
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