Busy Rural Convenience Store For Sale

Business description

This well-established rural convenience store is located on a busy state highway between two growing areas. It is located in one of Maine’s scenic lake and recreation areas. The store does about $4 million in annual sales with about 65% in gas and about 35% in higher margin grocery and take-out foods including pizza, sandwiches, and deli items. It has an inside seating area for 20 people. The store is noted for its wide selection of novelty items. Sales are year-round with a strong peak in summer. The sale includes real estate and is suitable for a 1031 Exchange. Cash flow of $130,000 does not include rent add-back of $60,000.

Property information

Real Estate:

Real Property Included

Living accommodation:

The real estate is also available for $650,000.

Location:

The store is approximately 2,500 SF with a full foundation. The
business has 380 feet of highway frontage on 16 acres of flat developable
land. The store was remodeled in 1997 and has been very well maintained. the real estate is available for $650,000.

Other information

Expansion potential:

This area of Maine will continue to grow in both population and vacationers.
Located on sixteen acres of land, there is plenty of room to expand the
store, add new products and develop new ideas. The location and traffic
count would lend itself to expansion into related businesses such as a truck
stop, and or restaurant.

Competition / Market:

The store is dominant in its market and has a prime location that serves year-round and seasonal customers. There are no nearby grocery stores and its nearest competition is about half its size. Year-round residents, summer vacationers and winter sports enthusiasts make up the store’s diverse and growing customer base.

Support & training:

The seller will provide transition training for a new owner.

Reasons for selling:

Retirement

Financing available:

Seller/Bank financing $350K on Biz. Bank $520K on R.E. Down Payment $230K Working Capital Needed $25K. Suitable for 1031 Exchange.

Furniture / Fixtures value:

$200,000 (included in the asking price)

Inventory / Stock value:

$75,000 (included in the asking price)