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$900,000 Yearly Sales! Deli in Atlanta, GA!

Listing was updated on: 07/12/2019
$900,000 Yearly Sales! Deli in Atlanta, GA!

Property Overview

Price/Rent PSF $ 8,600.00
Asset Type Retail
Trade Type Lease
SQ. FT. Available 1
Date Available 07/12/2019
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Description

Seller has had the deli for 23 years since 1996 and wishes to retire! Customer base encompasses all corporate employees working in the office building and other connected buildings. Deli is only open from 7 AM to 4 PM for breakfast and lunch Monday through Friday and Closed during all Holidays! Buyer can enjoy free time in the evenings and the weekends! $900,000 yearly sales! All financials are verifiable on tax returns! Bank pre-approval already in place for a business-only SBA loan at 15% down, 10-year amortization, and prime+1.5% interest rate! The loan payment would be a maximum of $6,619 per month with a down payment of only $100,000 (15%)! Net Profit is $250,000 per year! Even after the loan payment and the high payroll of $15,700 per month, the business would still generate $170,000 in yearly net profit! Buyer will break-even on their down payment in 7 months! 6 employees work during the peak lunch hour. Employees know what to do! Very low employee turnover because they don’t have to work weekends and evenings! Deli provides catering with zero marketing! Minimum orders are $100. Lease expires in 2031 with two 5-year options available starting in 2021. Rent is $8,600 per month including all utilities and CAM. Asking Price for Business and FF&E: $649,000 + inventory! Buyer only needs to bring $100,000 (15%) to the table!

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