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Busy Rural Convenience Store

DESCRIPTION: This well-established rural convenience store is located on a busy state highway between two growing areas. It is located in one of Maine’s scenic lake and recreation areas. The store does about $4 million in annual sales with about 65% in gas and about 35% in higher margin grocery and take-out foods including pizza, sandwiches, and deli items. It has an inside seating area for 20 people. The store is noted for its wide selection of novelty items. Sales are year-round with a strong peak in summer. The sale includes real estate and is suitable for a 1031 Exchange. Cash flow of $130,000 does not include rent add-back of $60,000.

MARKET: The store is dominant in its market and has a prime location that serves year-round and seasonal customers. There are no nearby grocery stores and its nearest competition is about half its size. Year-round residents, summer vacationers and winter sports enthusiasts make up the store’s diverse and growing customer base. This area of Maine will continue to grow in both population and vacationers. Located on sixteen acres of land, there is plenty of room to expand the store, add new products and develop new ideas. The location and traffic count would lend itself to expansion into related businesses such as a truck stop, and or restaurant.

FACILITIES: The store is approximately 2,500 SF with a full foundation. The business has 380 feet of highway frontage on 16 acres of flat developable land. The store was remodeled in 1997 and has been very well maintained.

PRICE OF BUSINESS: $450,000
PRICE OF REAL ESTATE: $600,000
ANTICIPATED SELLER/BANK FINANCING ON BUSINESS: $350,000
ANTICIPATED BANK FINANCING ON REAL ESTATE: $520,000
TOTAL DOWN PAYMENT: $230,000
WORKING CAPITAL REQUIRED: $25,000