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Waterfront Country Store

DESCRIPTION: This well-established waterfront market is located in a popular recreation area near mid-coast Maine. It is on one of the state’s scenic lakes. The store does about $1.3 million in annual sales with about 25% in higher margin restaurant and take-out foods with excellent year round business from the local community and summer tourists. The real estate has additional space that can be leased out and a spacious owner apartment on the second floor.

MARKET: The store is dominant in its market and has a prime location that serves year-round and seasonal customers. Lack of significant competition gives it a strategic advantage and its water access provides it with a lucrative and unique market niche. This area of Maine will continue to grow in both population and vacationers. The business has maintained a level of growth that exceeds the regional average of similar businesses. The physical plant is large enough to support any new growth areas. The store can expand its products and services to boaters, add a liquor agency store and add a deli case. There is room to add additional dock space.

FACILITIES: The market has plenty of retail and storage space, ample parking and room for expansion. The large modernized building has additional unused commercial space and a large 2,500 sq. ft. apartment on the second floor. A second apartment could be added.

PRICE OF BUSINESS: $220,000
PRICE OF REAL ESTATE: $475,000
ANTICIPATED SELLER/BANK FINANCING ON BUSINESS: $150,000
ANTICIPATED BANK FINANCING ON REAL ESTATE: $325,000
TOTAL DOWN PAYMENT: $220,000
INVENTORY: $25,000
WORKING CAPITAL REQUIRED: $25,000