Maine Country Market & Restaurant For Sale

Business description

This successful high-volume country store and restaurant is located in a growing area of the state. It has a key location at a busy intersection of routes that connect southern Maine to recreational areas in the northwestern part of the state. It is located in one of Maine’s scenic lake and recreation areas. The store does over $2 million in annual sales with no gas sales. About 22% of sales are in higher margin restaurant and take-out foods with plenty of room for growth in that area. There is an inside seating area for 24 people. It has developed an excellent reputation for its products and services in terms of quality, pricing and selection. The market is the only agency liquor store in town and has the only mega-bucks machines. The sale includes the real estate and is suitable for a 1031 Exchange.

Property information

Real Estate:

Real Property Included

Location:

The store is located on a historic location with plenty of retail and storage space, ample parking and room for expansion. The market has about 2,400 SF of space plus a full basement. The lot is .54 acres and has 80 feet of frontage.

Other information

Expansion potential:

This area of Maine will continue to grow in both population and vacationers. Located on .54 acres of land, there is room to expand the store, add new products and develop new ideas. There is ample oven and food prep capacity to expand the catering operation, and the “home meal replacement” market.

Competition / Market:

The store’s location at a busy intersection gives it exposure to high vehicle traffic. It is dominant in its market with a 50-60% market share. It is larger than its competition and has better selection and prices. Year-round residents, summer vacationers and winter sports enthusiasts make up the store’s diverse and growing customer base.

Support & training:

The seller will provide transition training for a new owner.

Reasons for selling:

The seller has another store and other business ventures to attend to.

Financing available:

Seller/Bank financing $200K on Biz. Bank $320K on R.E. Down Payment $229K Working Capital Needed $25K. Inventory approximately $70K. Suitable for 1031 Exchange.

Furniture / Fixtures value:

$90,000

Inventory / Stock value:

$70,000