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Lake Orion, MI

  • Listing No.: 217-20048

  • Category: Retail

Asking Price $225,000
Down Payment
Gross Revenue $188,000
Total Adjusted Net Income $110,000
Equipment / Fixtures $98,967
Year Established 1991
General Location Lake Orion, MI
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Financials are based on 2020, so take advantage of this buying opportunity as we move into a post-COVID rebound for retail and return-to-work. This location has been serving the community for almost 30 years and the Lake Orion area continues to grow. There is an ACE Hardware and Kroeger's at this shopping center. Reliable employees and healthy profits present an opportunity for a new owner to run the business hands-on or semi-absentee. Over decades, Seller has identified a wide range of services, some of which are outsourced and still yield high margins. An established delivery and pickup route contributes over 20% of revenue and has potential to grow. Owner is willing to train new owner to ensure continued success and even help hire and train a manager if the new owner desires. For additional information please contact listing agent Ken Lee at 248-218-2630.This is a leased location of 1,700 square feet with a Total Rent of $2,965. The shopping center includes an ACE hardware and Kroeger's. Lease ends 12/2022. Hours of operation are M-F 7-7, Sat 8-4, Sun closed. Adjusted during COVID: M/W/F 7-6, T/Th 10-4 (deliveries in morning), Sat 8-3. $98,967 in FF&E included in Asking Price. $13,195 made in Leasehold Improvements. Dry Cleaning License, Air Purification License.

Gross Revenue $188,000 Listed Price $225,000
Total Income $110,000 Down Payment
Base Rent $2,125 Square Feet 1700
Total Rent $2,965 Lease Expiration 12/2022
Rent Deposit $3,258 Lease Options
Inventory Not Included Leasehold Improvements $13,195
Equipment / Fixtures $98,967 Other Assets See balance sheet and asset list
Full-Time Employees Training Period 2 weeks
Part-Time Employees 5 Special License Required Dry cleaning license, air purification license, corporation fee
Contract Staff Reason for Selling Spouse is retiring, Owner is retiring, moving to vacation home, sons have college degrees pursuing other fields

The information contained herein was received from the Seller and is deemed reliable but not guaranteed. First Choice Business Brokers (FCBB), has relied upon the Seller to provide the above details and has NOT verified this information. FCBB is not responsible for and does NOT warrant any statements, projections or any information provided by the Seller. The User/Buyer will be solely responsible for verification of the Seller's profits and business operation. By acceptance of this document, the Buyer/User agrees that all information contained herein is strictly confidential and will not be disclosed to any other party without prior written authorization. The Buyer/User confirms and understands that FCBB has NOT performed an independent investigation of the business or figures quoted herein.

FCBB strongly recommends that a Buyer should seek legal and accounting advice prior to purchasing a Business. Any change to the above information requires both the Seller's and FCBB's written approval. Any change made to this document without FCBB and Seller approval is not valid.

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