Owner-Absentee 3-Store Portfolio in Miami, Florida
Deal ID: SNWN29
Overview
This multi-location specialty retail brand operates three smoke shop and vape accessory storefronts in high-traffic corridors of a fast-growing major US metro. Founded in 2021, it grew from a single flagship beside a 30,000+ student university into a three-store platform serving students, affluent residents, tourists, office workers, and event-goers. The business is fully staffed and owner-absentee, backed by direct overseas sourcing and a proprietary 20,000+ contact CRM with 70%+ customer retention.
Asking Price: $2,475,000 for all three stores
2025 Revenue: $3,764,709
Annual Cash Flow: $1,047,250
Cash Flow Margin: 27.8%
Asking Multiple: 2.63x
Industry: Specialty Retail – Smoke Shop / Vape & Accessories
Turnkey: Yes, owner-absentee
Online / Remote Capable: No (physical retail, owner-absentee)
Financing: Open to 15% seller financing (~$412,500)
Includes Real Estate: No, leased
Year Established: 2021
Age of Business: 3 years
Locations: 3
Blended Margin: 28%
Customer Base: 20,000+ CRM contacts, ~500 daily walk-ins, 70%+ retention
Growth Opportunities
Two of the three locations are grandfathered under a local zoning ordinance barring new smoke shops within one mile of an existing one, limiting nearby competition. The CRM and a 3,000+ member WhatsApp community add ~1,000 new customers monthly, creating room for SMS promotions, loyalty programs, and delivery or e-commerce. The newest store opened in late 2024 and is still ramping. The seller is open to 15% seller financing, and stores can be bought individually or as a portfolio.
Exit Advisor Takeaway
At 2.63x cash flow and ~0.73x revenue, this is a cash-yielding, owner-absentee platform with 28% blended margins, well above typical specialty retail. Three stores tied to distinct demand drivers (campus, tourism/nightlife, downtown office/events) reduce single-site risk, while zoning barriers and a 20K+ CRM form a defensible local moat. With 15% seller financing and roughly 2.6 years of cash flow to recoup the price, a buyer gets a turnkey base with upside from the ramping newest store.
