Withheld, Waterbury, CT 06705

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Withheld is located in Waterbury, CT.

This is a Convenience Store with Real Estate for sale in Waterbury, CT. Read all of this summary to make sure this business opportunity is right for you.

This location has been a 2,932 s.f. Convenience Store for many years. The owner bought the property & business when it was a branded 7 - 11 store in 2003. It sells the usual "C" Store items with beer, and lotto, along with ATM machines and propane.

The Owner obtained approval to install gasoline tanks, pumps and a canopy. There will be 2 – MPD dispensers (one with 4 products – diesel), 2 - 12,000 tanks (one split for diesel) and a 55’ x 22’ canopy.
Construction is planned to start early next year. As part of this expansion there will also be some improvements to the store.

You can buy this property now for $1,050,000 plus inventory (+/- $80,000) and do the gas expansion when you want or you can buy it with the work done for $1,050,000 plus construction costs estimated +/- $325,000 - $375,000.

Current revenues in the store are +/- $950,000 (including $48,700 in lotto commissions).Owner Cash Flow is estimated +/- $120,000. With the gas expansion, gas sales is estimated between 80,000 and 100,000 gallons per month. Figuring a low margin of 10 cents per gallon on the lower volume estimate that is over $96,000 a year in additional revenue. Store sales will also increase with the gas expansion. It is estimated store revenues will increase at least $700 per day. At a GP% of 21.5% that is +/- $55,000 per year. Overall with the gas expansion, Owner’s Cash Flow is projected +/- $211,000.

Financing options available: (1) Owner financing of $700,000 for the business & property with the gas improvements. It would be amortized over 30 years at 7.5% interest and have a 10 year balloon. (2) Another option available is buying the business for $400,000, paying rent at $8,000 per month + Real Estate Taxes ($1,159/month). (3) Bank financing would require at least $855,000 cash for a down payment with the gas expansion or $530,000 cash down payment if you buy the business and property without the gas expansion work being done .

If the cash flows are adequate for your requirements and you have the required cash down payment fill out the Confidentiality Agreement & Questionnaire which can be obtained from our website or send us an e-mail and we will send you the forms. When received, an appointment can be made to visit the property.