Special, Smaller, Cash Flowing Strip Mall Opp.

Not Disclosed, MI
Kent County

Grand Rapids Area


Asking Price: Annual Revenue:
$715,000 Not Disclosed

Commercial Real Estate: Retail & Shopping Centers


Request More Information
Contact the Seller

RE: Special, Smaller, Cash Flowing Strip Mall Opp. Broker: Ryan Johnson

Quick Facts

Asking Price: $715,000
Annual Revenue: Not Disclosed
Net Profit: $75,000
Cash Flow: Not Disclosed
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: Not Disclosed
Employees: Not Disclosed
BBN Listing #: 522931216
Broker Reference #: RJ1060921

Email or Print Listing

Request More Information
Contact the Seller


Business Overview:

Value priced at $715,000, this attractive, unique business opportunity offers the buyer:

• A nearly 6,000 square foot Grand Rapids (MI) neighborhood strip mall
• ½ acre of street corner real estate
• Easy, ample, paved parking directly in front of the building
• Long term leases with three of the four tenants
• The fourth space contains an underperforming party store owned by the sellers. The lease can be assumed by the buyer or rented out to a new, arm’s length tenant
• There is also a newly and nicely remodeled 800 square foot apartment (included with the strip mall) that is currently occupied by the sellers

The sellers are relocating abroad which results in their including the following party store items (in addition to the real estate) in the $715,000 sale price:

• Carryout wine and beer license
• Large cooler ($12,000 value)
• Nearly $20,000 (cost basis) of beer, wine and cigarette inventory
• Lottery and ATM
• All other inventory for resale in the store (at no cost to the buyer), all racks and shelving, point-of-purchase register, electronic surveillance system, etc.

Now, let’s talk numbers. The strip mall (not including sales revenue from the party store) generates over $80,000 of annual rental income, which after insurance and real estate taxes nets nearly $75,000 of rental cash flow. With $75,000 down (buyer cash), a $100,000 seller provided second mortgage, and $540,000 from an SBA first mortgage, total debt (first and second mortgages combined) would require approximately $40,000 of annual debt service. The total debt service ratio ($75,000 of annual revenue/$40,000 of total annual debt payments) is very attractive – nearly a 2:1 ratio.

This is a perfect family business with the family receiving in addition to all the rent, the operating profit from owning and managing the party store along with the benefit of living in an attractive second story apartment in the strip mall. And if you want still more positive information, the party store is the only such establishment within a couple of square mile radius and is within walking distance from (a) hundreds of apartments in a large neighborhood apartment complex, (b) scores of middle class single family homes, and (c) churches and an elementary school.

To learn more about this truly special opportunity, please contact Ryan Johnson.

To request more information regarding this listing, simply check the ADD TO REQUEST INFO BASKET button and when you are done searching and have made all your selections, simply click on the REQUEST INFO button at the bottom of the page.

Property Features and Assets:

Grand Rapids neighborhood strip mall. 1/2 acre of street corner real estate. Price includes the FF&E and inventory of the party store in the mall. There is an newly and nicely remodeled 800 square foot apartment included with the strip mall.

Reason for Selling:

Retirement

Additional Details:

  • The property is owned.
  • The owner is not willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

Relevant Links:

Request More Information
Contact the Seller



BusinessBroker.net is one of the largest business for sale marketplaces in the world that connects tens-of-thousands of business buyers and sellers every month. Sell a Business Online or if you’re a broker or a commercial agent sign up for a Business Broker Membership today!