Established Meat Market and Grocery Store with Rental Units

Listing Number: 76931-476922

Description

This Meat Market and Grocery store was established in 2005 in the central part of Corpus Christi. After growing the business year over year for 10 years, the seller decided to relocate the business to a growing part of Corpus Christi closer to numerous new neighborhoods. The previous location was in a leased 2,700-square-foot facility, and the renamed business was to a new building of 4,994 square feet. The seller owns the new facility and 6 additional rental units in the same strip center. All units are part of the sale. Of the six rental units, 3 have tenants at an average lease of $1,900 per month triple net.

The sales price for this turnkey operation is $850,000 for the business and $3,129,000 for the real estate. The real estate purchase includes the 4,995-square-foot building and 6 rental units of 1,012 square feet each, and the common areas of the strip center. Sales in 2023 for this business were $1,112,919, which was an increase of 18% over 2022 sales. This asset sale includes $400,000 in FF&E, $600,000 in tenant improvements, and $130,000 in saleable inventory.

Detailed information and a drawing of the property layout are available in the confidential information memorandum (CIM).

Listing Details

• Price: DH 3,979,000
• Down Payment: DH3,579,000
• Sellers Discretionary Earnings: DH 164,275
• Total Sales: DH 1,112,919
• Location: Nueces County, Texas


• Inventory: DH 130,000
• FF&E: DH 400,000
• Employees: 10
• Year Established: 2005
• Reason for Selling: Move on to different venture
• Category: Food Business Retail