Listing Number: 6842-59227
This is a full service grocery/deli/produce market at a busy intersection of a bustling downtown neighborhood in Manhattan with tons of upside potential. The current owner converted a non-descript deli into this clean, well-organized, efficient market with a friendly and helpful staff and grew sales from nothing to the current $3 million per year. And there still is room to grow by adding products and services (see Strengths/Opportunities below). Features include a long lease, 100-foot frontage on two streets, 2,400 vented SF on the ground floor plus a full, 2,400 SF basement kitchen complete with venting and five walk-ins. Products include groceries, organic produce, coffee, cigarettes, a full deli with grill and serving island with hot and cold food selections by the pound.
Hours: Open 24 Hours Daily.
Strengths / Opportunities
Strengths: Location, size, reputation for quality and service.
Opportunities: Add lottery, beer sales and catering. Increase local marketing.
Lease: Approximately 2,400 sf ground floor, corner location with 100 feet of frontage on two sides. Plus, there is a 2,400sf basement with a full kitchen and storage, including five walk-ins. Rent is approximately $19,134/month. Real estate taxes additional. Four (4) years remain on the 10-year lease plus there is an additional five-year option.
The Transaction: The deal structure will be an asset sale. The reason for sale is the sellers’ desire to retire. Owner will train for two weeks at no charge. Asking price is $1.5 million. Seller financing up to $250,000 available to qualified buyers.
- Price: $1,500,000
- Down Payment: $1,250,000
- Sellers Discretionary Earnings: $450,000
- Total Sales: $3,000,000
- Location: New York, New York
- Inventory: $0
- FF&E: $200,000
- Employees: 14
- Year Established: 2014
- Reason for Selling: Other business interests.
- Category: Food Business Retail