Northern Michigan Grocery Store

Undisclosed Address, Michigan
Business Opportunity for Sale
Sale Pending
Catylist Listing ID: 30725430
Property Subtypes: Retail Stores
Status: Pending
Building Size (RSF): 9,750 SF
Sale Price: $650,000 - 750,000
Name of Establishment: Northern Michigan Full Service Grocery Store
Year Business Established: 2011
Gross Revenue: $2,300,000 (Annual)
Cash Flow: $194,000 (Annual)
Sale Terms: Cash/Conventional
Last Updated: 11/29/2021

Overview / Comments

Business Summary

This very profitable family-owned grocery store offers high-quality foods, friendly service, and great prices. They are a one-stop-shop for finding everything needed from everyday essentials to specialty items from around the world, featuring national brands and private label items. They have a strong relationship with a national grocery distributor that enables them to offer low prices every day.

The store is located in northwest lower Michigan, south of Traverse City. The owner has placed a tremendous amount of investment and dedication into modernizing operations and building the store into a money-making enterprise. Improvements include replacing the ceiling, lighting, furnace and air conditioning, compressors, and many multi-deck refrigerated display cases, with ongoing investments in 2021. The owner has no involvement in day-to-day operations, making this a turnkey opportunity for the new buyer. The experienced staff is aware of the sale and willing to stay on after the transaction.

Detailed Information

2020 Revenue: $2,300,000
2020 SDE: $194,000
Inventory: $180,000
Employees: 7 full-time, 4 part-time
Real Estate: 8,900 square feet on 1.0 acre, included in the sale

Investment Highlights:
· Ample real estate for expansion
· Significant investment in facility and displays
· Turnkey operation with experienced staff willing to stay after the sale
-Supplied by SpartanNash

Growth Opportunities:

· Install gasoline pumps on neighboring lots
· Add hardware section
· Obtain hard liquor license

Support & Training: The owner is willing to assist the new buyer

Reason for Selling: Retirement

Additional Details

Industry Segment: Independent Stores
Value of Inventory Included ($): $0
Value of Furniture, Fixtures, and Equipment ($): $0
Value of Real Estate Included ($): $0
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