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Fantastic Westchester Convenience Store At Very Low Cost For Sale

Hartsdale, New York, US
Asking Price:
On request Furniture / Fixtures included
Sales Revenue:
On request
Cash Flow:
On request

As the first operator of this business and the current Landlord, we are offering this opportunity to own a 54 year old established convenience / deli store. The current owner is involved in other interests, is absentee managing, and the store is vastly underperforming. Some days the store doesn't even open for business. Consequently you can forget about paying 1-2-3-$400,000.

Located in an affluent Westchester community, at a major local traffic intersection, this store has approximately 40,000 vehicles per day and hundreds of homes and a thousand apartments within walking distance. The condition of the store is good but it needs improvement in merchandising. It should be easy to increase the store business volume many times over the current level.

The store opened in 1972 and was an instant success, with customer lines running from the 3 cash registers in front to the walk-in cooler in the rear. It has been a successful landmark in the community since then. It has had six owners over 54 years. One of the owners kept the store for 18 years during which time the store comfortably supported two growing families, and after which they sold the store for a very large profit.

Originally a convenience / dairy, it now caters to contractors and tradesmen with hot and cold tables for lunch, beer, snacks and cigarettes. It should also be attracting the neighborhood families with merchandise appropriate to children, hard working parents, and senior citizens. Items such as dairy, baked goods, ice cream, infant and pet food, paper and cleaning supplies, coffee and tea. etc. It has almost none of these items.

This is a once-in-a-lifetime opportunity for an experienced, enthusiastic and energetic buyer to get a poorly managed business with unbelievable potential at a very, very low cost. The current store owner is aware of the landlord's reaching out to find the correct buyer of this business.

Additional Information: Store size- 2300 sq ft with on site parking
Building renovated 2017
Median neighborhood income approx. $125,000
Other businesses in building- jewelry, wine and liquor, fast food

Property Information

Real Estate:

Lease

Lease Terms:

To be discussed

Leasehold Rent:

Not disclosed per annum

Location:

Affluent Westchester community. Store is on a major state road interseting a heavily trafficked cross street which leads to the local railroad station. Automoibile traffic is heavy, sometimes reaching 40,000 vehicles per day. Several bus lines stop in front of our door. There are abouit1000 apartment units and hundreds of homes within walking distance of our store.

Premises Details:

Highly visible corner store has large 10 door walk-in cooler, and many refrigerated units in place in the store. Cash register / counter in front. Grill and take out in front. Food prep and ovens in rear. New floor in 2018.

Size in square feet:
Approximately 2300 square feet

Business Operation

Management type:
This business has absentee ownership.
Expansion Potential:

Expansion of the business can come from better operation of this business. New products and home delivery 2 or 3 hours a day would improve business beyond anything it had previously.

Competition / Market:

Little to no competition at this location. In a densely populated area, we are one of the few stores that has its own parking.

Reasons for selling:

The current owner was formerly an engineer and has decided to return to engineering. He has almost never worked this business, instead helping family with their store, and then taking a position in NY as an engineer.

Trading hours:

Business hours change frequently. Usually 7am to 6 pm. Sometimes the store doesn't open for business. Sometimes is closes early, perhaps 3 pm.

Employees:
5
Years established:
54

Other Information

Support & training:

Some assistance by former owner is available. Current owner is not involved.

Furniture / Fixtures value:
$100,000 - included in the asking price
Inventory / Stock value:
$35,000
Distressed:
This business is a turnaround opportunity