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320 Madison St

Passaic City, NJ 07055
  • $750,000
  • STATUS: Active
  • ON SITE: 19 Days
  • MLS #: 3758059
UPDATED: 34 min ago
$750,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,500
    SQFT
  • $214
    $/SQFT
Type:
Business Opportunity
County:
Area:

School Ratings & Info

Description

Excellent opportunity to own a 3,500 sq/ft mid-size grocery store situated in a very busy neighborhood in Passaic NJ for the past 70 years. The international store is well stocked and has a full selection of fresh meats, produce, dairy products and a wide array of grocery, and household products. The basement features 2,000 sq ft for storage & a prep station for produce. New 10 year lease with 10 year renewal option, the rent is $3,500 a month. The inventory & equipment of $550,000 will be included in the sale price. The grocery store is doing phenomenal numbers with great consistent sales steady through COVID-19 at $56-63k weekly easy. La Mia Meat Market has been a profitable and debt free business for 24 years under the same ownership. Income & Expenses are a must see. There is a huge upside potential for the right buyer.

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Garden State MLS logo © 2022 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Zebaida Group at Keller Williams Realty. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than Zebaida Group at Keller Williams Realty are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2022-01-26T09:46:21.763.
www.zebaidagroup.com/homes/124509044
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320 Madison St Passaic City, NJ 07055

  • Price: $750,000
  • Status: Active
  • On Site: 19 Days
  • Updated: 34 min ago
  • MLS #: 3758059
0
Beds
0
Baths
0
½ Baths
N/A
Acres
3,500
SQFT
$214
$/SQFT
County:
Passaic
Area:
Passaic City
Property Description
Excellent opportunity to own a 3,500 sq/ft mid-size grocery store situated in a very busy neighborhood in Passaic NJ for the past 70 years. The international store is well stocked and has a full selection of fresh meats, produce, dairy products and a wide array of grocery, and household products. The basement features 2,000 sq ft for storage & a prep station for produce. New 10 year lease with 10 year renewal option, the rent is $3,500 a month. The inventory & equipment of $550,000 will be included in the sale price. The grocery store is doing phenomenal numbers with great consistent sales steady through COVID-19 at $56-63k weekly easy. La Mia Meat Market has been a profitable and debt free business for 24 years under the same ownership. Income & Expenses are a must see. There is a huge upside potential for the right buyer.
Exterior Features

Garage Description On-Street Parking Location Commercial AreaCornerResidential Area Parking Driveway Description NoneOn-Street Parking Road Type Corner

Interior Features

Available Sq Ft 3500 Basement Yes Basement Description FullWalkout Cooling See Remarks Fuel Type Gas-Natural Number Of Lavatories 1

Property Features

Acceptable Financing See Remarks Business Classification Retail Business Name La Mia Meat Market Documents Available Financial StatementsLeasesTax Returns Existing Lease 5 Or More YearsLong TermRenewal OptionSeller Does Not Own Building Gross Operating Income 2109946 Heating 1 Unit Income Expense Source AccountantTax Returns Lease Amount Month 3500 Net Operating Income 188050 Ownership Type Sole Proprietorship Price Includes Business Phone NumbersInventoryLeaseMachinerySignsTrade Fixtures/Equipment Primary Business Classification Retail Real Estate For Sale No Re Available Sewer Public Sewer Total Operating Expense 210856 Utilities Gas-Natural Utility Amount 0 Water Public Water

Listing information © 2022 Garden State Multiple Listing Service,LLC.
Listing provided courtesy of Re/Max Professionals I.


Garden State MLS logo © 2022 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Zebaida Group at Keller Williams Realty. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than Zebaida Group at Keller Williams Realty are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2022-01-26T09:46:21.763.
 
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