Description
Retail building approximately 8,000 SF with a 4,000 SF basement. Main level is about 8,000 SF with 4,000 SF occupied by owner-occupied/run convenience store for sale at $400,000 (WHICH MUST ALSO BE PURCHASED WITH THE REAL ESTATE - THE TWO CANNOT BE SOLD SEPARATELY). The store is averaging $75,000 gross sales/month. In addition, the owner collects an average of $4,000/month in ATM fees, $3,000/month in Keno and Lottery commission . The 4,000 SF balance of the main level is a vacant space(in that vacant space there are two three-compartment sinks, two bathrooms, a brand new commercial hood and a working conveyor belt from basement to main level). The basement is a large, dry, wide-open 4,000 SF space with 10' ceilings. Formerly a Save-A-Lot grocery store this could be a great opportunity for an investor or owner occupant (laundromat, deli, grocery store; convenience store; dollar-store). Even leasing the remaining vacant space and perhaps even the basement at below-market rates at $10/SF the CAP rate could easily exceed a 10 and almost approach a 20. Too good to be true? It's not! Vacant spaces are also currently listed for lease.
Description
Retail building approximately 8,000 SF with a 4,000 SF basement. Main level is about 8,000 SF with 4,000 SF occupied by owner-occupied/run convenience store for sale at $400,000 (WHICH MUST ALSO BE PURCHASED WITH THE REAL ESTATE - THE TWO CANNOT BE SOLD SEPARATELY). The store is averaging $75,000 gross sales/month. In addition, the owner collects an average of $4,000/month in ATM fees, $3,000/month in Keno and Lottery commission . The 4,000 SF balance of the main level is a vacant space(in that vacant space there are two three-compartment sinks, two bathrooms, a brand new commercial hood and a working conveyor belt from basement to main level). The basement is a large, dry, wide-open 4,000 SF space with 10' ceilings. Formerly a Save-A-Lot grocery store this could be a great opportunity for an investor or owner occupant (laundromat, deli, grocery store; convenience store; dollar-store). Even leasing the remaining vacant space and perhaps even the basement at below-market rates at $10/SF the CAP rate could easily exceed a 10 and almost approach a 20. Too good to be true? It's not! Vacant spaces are also currently listed for lease.
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