Smoke Shop and C-Store in Newport County, RI-31625

Not Disclosed, RI
Newport County


Asking Price: Annual Revenue:
$139,000 $750,000

Food & Beverage: Convenience Stores


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RE: Smoke Shop and C-Store in Newport County, RI-31625 Broker: David Cohen
Owner Financing is Available!
$139,000.00 Down & seller financing for Inventory.

Quick Facts

Asking Price: $139,000
Annual Revenue: $750,000
Net Profit: Not Disclosed
Cash Flow: $145,000
Total Debt: Not Disclosed
FF&E: $15,000
Real Estate: Not Disclosed
Year Established: Not Disclosed
Employees: 3
BBN Listing #: 9474447
Broker Reference #: 31625

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Business Overview:

UPDATE***Daily Sales now up to $3000 per day, Last year the age to buy tobacco went up to 21 in nearby Mass, this store, only yards from the border, is reaping the rewards and increasing business daily.Long established smoke shop and convenience store located just over the state line from MA. In 2019 the smoking age in MA went up to 21 which means a large increase in cigarette sales and tobacco related sales, this store is the closest to the state line. The store did an average of $1,500 per day in 2018 with 35% of the sales at a high gross profit coming from smoke shop items including E-cigs, juice, oils, pipes smoking accessories and CBD oil and wax. 35% of sales are grocery items and 30% are cigarettes which is expected to rise. The store has been in this location for 80 years with 19 years under the current owners, Open 7 days a week and owner-operated. Seller is the landlord and willing to write a long term lease with the option to purchase the property that includes 2 large apartments. Seller is also willing to sell the property at a price of $395,000. Unique opportunity with lots of upside at a below market price. Call Now! Please use email reply button of this ad to contact us.

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Reason for Selling:

Retirment

Additional Details:

  • The property is leased.
  • 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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