Hempstead, NY 11010

Property

Ownership: For Sale
Type: Unknown
Lot Size: 0.1 Acres

Financials

Price:$850,000
Annual Taxes:$28,957.40
6243 Northern Blvd
Phone:
Listing Courtesy of Keller Williams Realty Greater

This business has been operating successfully for over 20 years and is currently run by an absentee owner with two full time employees handling the day to day operations.

Description

This business has been operating successfully for over 20 years and is currently run by an absentee owner with two full-time employees handling the day-to-day operations. The store does approximately $1.4 million in annual sales with around a 30% gross margin, and it also includes lotto sales, bringing in even more daily customer traffic and additional revenue potential. It’s about 3,000 square feet with 20 parking spots, and some of those spots are rented to nearby businesses, bringing in over $2,000 a month in passive income. That helps reduce the effective rent from about $11,200 a month down to around $9,000. There’s also an additional 500 square feet of storage space that, with the proper permits, can be leased out or converted into another business or storefront for even more income potential. And here’s the biggest upside — the business currently has no Uber Eats, no Grubhub, and no dedicated website, leaving tremendous room for growth through online ordering, delivery services, and digital marketing. The asking price is $850,000, with approximately $480,000 in inventory sold separately.

Long Island MLS

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.