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High-Volume Grocery Store and Gas Station Property!

Listing was updated on: 02/13/2020
High-Volume Grocery Store and Gas Station Property!

Property Overview

Price/Rent PSF $ 1,100,000.00/8,000.00
Asset Type Retail
Trade Type Sale & Lease
SQ. FT. Available 1
Date Available 02/13/2020
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Description

Property is One Hour East of Memphis, TN in Mississippi! The State just started lottery and the Seller has applied for the lottery license! Seller lives in California and is 100% absentee owner! High Volume Grocery Store and Gas Station generating over $90,000 Inside Sales and 46,000 gallons sold per month! Over 10 cents margin per gallon! The Seller is generating a net profit of $15,000 per month before mortgage! After paying all expenses and over $12,000 in payroll! Owner-operator can increase sales and lower payroll! Seller is offering both business-only and with property! Seller is asking only $1.1M + inventory for Business and Property! Buyer with sufficient credit can secure the Property for only $250,000 down payment! Mortgage Payment will be less than the rent he is asking! Store is 11,000 sq.ft! Seller just opened the store 8 months ago. Sales are an average from June 15th to December. Inside Sales expected to hit $170,000 this upcoming Summer! Brand New, State-of-the-Art Store with new equipment, pumps, and canopy! Includes 28-door walk-in freezer and several reach-in and walk-in coolers all throughout the store! Store is currently a Dry Store. County is planning to start selling beer by the end of this year. Jobber is Deez Oil with 12 years remaining on the contract. Jobber maintains pumps and canopy! Contract is 50/50 commission split. No jobber deposit required! Customers come from surrounding cities! The store will start delivery of groceries within a couple of weeks. Less than a mile away from the high school and police department. Asking Price for the Property is $1.1M + inventory. Inventory is approximately $250,000. Asking Price for Business-only is $129,000 + inventory. Rent is $8,000 NNN with a 15-year lease available!

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