Owner Financing is Available!
Business Overview:
This is a Convenience Store with Real Estate for sale in Waterbury, Connecticut. Read all of this summary to make sure this business opportunity is right for you. This location has been a 2,932 square feet convenience store for many years. The owner bought the property and business when it was a branded 7 to 11 store in 2003. It sells the usual "C" store items with beer and lotto, along with ATM machines and propane.
The owner obtained approval to install gasoline tanks, pumps and a canopy. There will be 2 MPD dispensers (one with 4 products – diesel), 2 - 12,000 tanks (one split for diesel) and a 55’ x 22’ canopy.
Construction is planned to start early next year. As part of this expansion there will also be some improvements to the store.
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
Current revenues in the store are +/- $950,000 (including $48,700 in lotto commissions). Owner cash flow is estimated +/- $120,000. With the gas expansion, gas sales is estimated between 80,000 and 100,000 gallons per month. Figuring a low margin of 10 cents per gallon on the lower volume estimate that is over $96,000 a year in additional revenue. Store sales will also increase with the gas expansion. It is estimated store revenues will increase at least $700 per day. At a GP% of 21.5% that is +/- $55,000 per year. Overall with the gas expansion, owner’s cash flow is projected +/- $211,000.
Market Competition and Expansion:
Financing options available: (1) Owner financing of $600,000 for the business & property with the gas improvements. It would be amortized over 30 years at 7.5% interest and have a 10 year balloon. (2) Another option available is buying the business for $400,000, paying rent at $8,000 per month + Real Estate Taxes ($1,159/month). If the cash flows are adequate for your requirements and you have the required cash down payment fill out the Confidentiality Agreement and Questionnaire which can be obtained from our website or send us an e-mail and we will send you the forms. When received, an appointment can be made to visit the property.
Reason for Selling:
Owner wants to be closer to home
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
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