Liquor Store With Property

Description

Liquor store with real estate and two attached one-bedroom apartments for sale in suburban Wayne County, Michigan.

The store occupies approximately 1,700 sq. ft. along a busy roadway and reports weekly sales of about $18,000.

Additional income

• Lottery commissions: approximately $20,000 per year
• ATM income: approximately $500 to $600 per month
• Apartment rent: approximately $1,450 per month combined

The seller states that current apartment rents are below market. Any future rent increase would depend on existing leases and applicable Michigan landlord-tenant rules.

Property and improvements

• Real estate included
• Two attached one-bedroom apartments
• Recent HVAC replacement for the store and both apartments
• Recent replacement of the walk-in cooler condenser

The current owner does little advertising.

A buyer could consider adding hot food, a website, cigar sales with a humidor, check cashing or money-transfer services. Each of these additions would require the appropriate permits, licenses or provider agreements.

The owner is selling because of health considerations and will provide training during the transition.

Buyers should verify historical sales, gross margins, lottery commissions, ATM income, inventory, apartment leases and deposits, property value and condition, equipment ownership, utilities and any existing liens.

Liquor, tobacco, lottery, food-service, check-cashing and money-transfer activities are subject to applicable state and local approvals. Buyers should not assume that existing licenses or authorizations will transfer automatically with the sale.