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Convenience Store In Somerville For Sale

Somerville, Massachusetts
Asking Price:
$66,990 Furniture / Fixtures included
Sales Revenue:
$224,000
Cash Flow:
$55,000

This family oriented convenient store has growth potential and serving the needs for the local neighbourhood. The store is located on the main route which provides good morning and evening traffic. The current owner have established the store several years ago. He has replaced all the shelves, coolers, air conditioning and updated the bathroom (apart from Coke and Pepsi), which totalled over $30k+. The store is maintained very well. The store also has an ATM machine which is owned by the seller. These equipment are included in the sale. The store does $224,000 in sales annually and an average $700-900 per day in lottery and scratch. In the previous years, the grocery sale has gone as high as $255,000. Currently, the business is providing an adequate cash flow for the family approx. $55,000. The buyer should know that there is a school at a walking distance which provides good traffic resulting in additional opportunity to increase sale, deli and other delivery items. There is also a Green Line subway coming in close by which will provide additional walking traffic and a lot more opportunity for growth. The store is good size, approx. 1200sq ft. and has additional space behind cooler and provide deli opportunity. The buyer has opportunity to add more features like Money transfer, school delivery and so on to generate more revenue. The store lease is $1400 per month which is a very reasonable amount compared to other store lease in the neighbourhood. The seller is willing to finance part of the sale up to $25k. This is truly a "turn key" operation. Good long term lease or 13 years and rent is all inclusive (No triple NNN).

If interested please contact the seller through the form on this page.

Property information

Real Estate:

Lease

Lease Terms:

3 years Lease left - 2 Options to renew for another 10 Years

Proposed $1,400 Rent will increase to $1500 and 1600 at each renewal
Less workshop
Store Net Rent $1,400 12 $16,800
Lease contract has 12.5 years left

Leasehold Rent:

$1,400 per annum

Lease Rent:
per sq ft per annum
Location:

Somerville - 4 miles from Boston and near Cambridge line

Premises Details:

1200-1300 Sq Ft

Size in square feet:
1200 Sq Ft

Business Operation

Expansion Potential:

Store is located in a three family residential building on the street level

Competition / Market:

Another store and gas on the same route

Reasons for selling:

The reason the owner would like to sell is to minimise distance between stores. Also, The owner is looking to purchase one large business or gas station in the near future

Trading hours:

Monday to Friday 7am - 10pm
Saturday 7am - 10pm
Sunday 8am - 9pm

Employees:
1 part time
Years established:
Over 25 years

Other Information

Support & training:

Owner will provide all training

Financing available:

Flexible

Furniture / Fixtures value:
$30,000 - included in the asking price
Inventory / Stock value:
$20,000
Related Documents:

Contact Information

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