864 Hempstead Turnpike

Description

This business has been operating successfully for over 20 years and is currently run by an absentee owner with two full-time employees handling the day-to-day operations. The store does approximately $1.4 million in annual sales with around a 30% gross margin, and it also includes lotto sales, bringing in even more daily customer traffic and additional revenue potential. It’s about 3,000 square feet with 20 parking spots, and some of those spots are rented to nearby businesses, bringing in over $2,000 a month in passive income. That helps reduce the effective rent from about $11,200 a month down to around $9,000. There’s also an additional 500 square feet of storage space that, with the proper permits, can be leased out or converted into another business or storefront for even more income potential. And here’s the biggest upside — the business currently has no Uber Eats, no Grubhub, and no dedicated website, leaving tremendous room for growth through online ordering, delivery services, and digital marketing. The asking price is $850,000, with approximately $480,000 in inventory sold separately.