General Market, Apartment Rentals & Package Receiving Store in Calais, Maine

Price: $351,000

Location: Calais, Maine

Industry: Retail

Listing ID: CM092824

This unique business is like a Swiss Army knife for the community! This business includes:

- A General Market featuring local produce, sweets, baked goods and gifts from over 90 local farmers and artisans.
- 6 rental apartments at 100% occupancy at $1,100/month each. (with a wait list)
- Land with town approval and zoning already in place for additional rental units on an adjacent lot.
- Package receiving for thousands of Canadian customers (saving them big on cross-border shipping costs).
- UPS Authorized Shipping Outlet for outbound shipping (new feature).
- Beer & Wine sales (new feature).
- Blue Seal Seed & Feed sales for pets, livestock and birds.
- Private mailbox rentals - both personal and business.

Due to its strategic location right next to the Canadian border, this store serves as a major package-receiving hub for thousands of Canadian customers. Customers come from as far away as Nova Scotia to pick up their packages! They receive about 33,000 packages per year, plus pallet-size shipments for larger customers.

This is a nicely diversified business. The income stream includes package receiving, grocery sales, and Blue Seal feed sales for farm animals, birds, and domestic pets. Four 2-bedroom apartments are above the store, renting at $1,100/month each. In an adjacent building, there are two more rentals, also at $1,100/month. Renters pay for their heat and electricity.

There is also an adjacent vacant lot (0.84 acres +/-). The town has approved new zoning to allow the sellers to build rental housing there. The sellers are currently planning an 8-unit building (4 over 4), but the town has said that they can build as many as they want, because of a housing shortage in the area.

Gross Revenue: $481,000

Cash Flow: $152,000

Inventory: $85,000

Real Estate $752,500

Terms & Conditions:

Real Estate (not included in sale price, subject to commercial appraisal)

Reason for Sale:

Retirement

Training & Support:

The seller will assist with the transition

Year Established: 1982

Employees: 3 FT, 1 PT

Type of Location: Single location

Potential Growth:

Aggressively promote package shipping via UPS and USPS services.
Add Notary Public services to feed overnight document shipping.
Add freight shipping-much of which is no-see, no-touch.
Expand beer & wine sales, focused on local brands in keeping with the General Market theme.

Financing/Terms:

Purchase Price: $351,000 (Business only)
Cash Flow: $152,000
Gross Revenue: $481,000
Inventory: $85,000 (not included in sale price)
Assets: $30,000 (not included in sale price)
Real Estate: $752,500 (not included in sale price, subject to commercial appraisal)
TOTAL PRICE: $1.22M