HS Listing ID-69079

This is a rare opportunity to acquire a profitable, high-volume Supermarket in a demanding, high-traffic Brooklyn neighborhood. Operating as an absentee-run business, this store is positioned for immediate profit optimization by an experienced, hands-on operator.


Overview:

Biz Revenue (2024): $6,300,000

Biz Cashflow: ~$400,000 (semi-absentee)



Business Highlights:

Established over 20 years in Brooklyn

Currently Absentee Ran

Store Manager in place for oversight

Fully Staffed with 25 – 30 employees

Each Dept. has its own manager

Currently, no fresh fish, hot/cooked food, or lotto is sold.

10,000 sqft + full basement

High visibility and lots of foot traffic

Surrounded by a lot of residential buildings

Would like to keep store and will facilitate a new operator

Financial Overview:

Revenue: $6,300,000

Weekly Sales: $121,000

Payroll: $16,000 / week

Inventory: $300,000 (included in price)

Rent: $25,000 + $10,000 taxes / month ($35k / month)

Insurance: $68k / year

Rebate: ~$186k

Gross Margins: 35%

Cash flow: $396,000 (6.5% for an absentee ran store)

Lease Terms
Rent: $25k base + $10k/month taxes

Sqft: 10,000 (full basement not utilized)

Term: 10 years (landlord may approve extensions only for experienced operators)

**Lease includes clause that landlord cannot unreasonably refuse consent, but approval still expected to be challenging for inexperienced buyers.**

Staffing & Payroll: (Union store, contract not renewed)

Staffing: Approx. 25-30 Employees
Store Manager: ($1,850/week + 4 weeks vacation/sick days, no medical)

Head butcher: $40/hour + benefits + 5 weeks vacation

Long-term union employees contribute to high expense structure.

New operator expected to cut salaries & union expenses to improve profits.

Only department heads are FT, everyone else is PT

Owners Role & Day to Day:

Owner is Absentee, does not step foot into store, only does oversight on financials.

A SIGNED CONFIDENTIALITY AGREEMENT IS REQUIRED FOR THE EXACT LOCATION