HS Listing ID-69079
This is a rare opportunity to acquire a profitable, high-volume Supermarket in a demanding, high-traffic Brooklyn neighborhood. Operating as an absentee-run business, this store is positioned for immediate profit optimization by an experienced, hands-on operator.
Overview:
Biz Revenue (2024): $6,300,000
Biz Cashflow: ~$400,000 (semi-absentee)
Business Highlights:
Established over 20 years in Brooklyn
Currently Absentee Ran
Store Manager in place for oversight
Fully Staffed with 25 – 30 employees
Each Dept. has its own manager
Currently, no fresh fish, hot/cooked food, or lotto is sold.
10,000 sqft + full basement
High visibility and lots of foot traffic
Surrounded by a lot of residential buildings
Would like to keep store and will facilitate a new operator
Financial Overview:
Revenue: $6,300,000
Weekly Sales: $121,000
Payroll: $16,000 / week
Inventory: $300,000 (included in price)
Rent: $25,000 + $10,000 taxes / month ($35k / month)
Insurance: $68k / year
Rebate: ~$186k
Gross Margins: 35%
Cash flow: $396,000 (6.5% for an absentee ran store)
Lease Terms
Rent: $25k base + $10k/month taxes
Sqft: 10,000 (full basement not utilized)
Term: 10 years (landlord may approve extensions only for experienced operators)
**Lease includes clause that landlord cannot unreasonably refuse consent, but approval still expected to be challenging for inexperienced buyers.**
Staffing & Payroll: (Union store, contract not renewed)
Staffing: Approx. 25-30 Employees
Store Manager: ($1,850/week + 4 weeks vacation/sick days, no medical)
Head butcher: $40/hour + benefits + 5 weeks vacation
Long-term union employees contribute to high expense structure.
New operator expected to cut salaries & union expenses to improve profits.
Only department heads are FT, everyone else is PT
Owners Role & Day to Day:
Owner is Absentee, does not step foot into store, only does oversight on financials.
A SIGNED CONFIDENTIALITY AGREEMENT IS REQUIRED FOR THE EXACT LOCATION
