6 Rentals & THRIVING business in Washington County, Maine. HIGHLY MOTIVATED SELLER!

[Charlie MacPherson]

I'm a business broker and I'm selling a thriving company along with its assets, which include 6 rental properties.  The seller has identified her dream retirement property in Central America and is VERY motivated to sell quickly so nobody buys her dream home out from under her. 

Your due diligence is fully expected, but time is of the essence.

Here's the listing description of the business and real estate: https://inbargroup.com/listing/general-market-package-servic...

There are photos of the furnished apartments here: https://www.dropbox.com/scl/fo/lxnm0nspog3aean3rpmib/h?rlkey...

The seller tells me that the tenants are mostly (maybe all?) local professionals.

There's also a vacant lot behind the business that appears suitable for development. 

Income is steady and there is no pending CAPEX.

The components of the business are:
- Farmer's market (more a labor of love than a big profit center - but it brings in a lot of foot traffic)
- Grain & Feed sales (Blue Seal, which is a big brand name)
- Package receiving for Canadians.  They save a LOT of money on having packages shipped to this store and crossing the border to pick them up, vs having them shipped to their home in Canada.

The new development in the business is that the seller was historically charging $3.00 per package.  I talked her into a $1.00 price increase, which she implemented January 1, 2024.  The only feedback she got from customers was "what took you so long?" It was well accepted.

As a result, in March alone, she brought in an additional $10,000 in cash vs 1 year prior.  $120,000+/- in new revenue with ZERO increase in cost of goods or labor!

BOTTOM LINE:  This is a thriving cash cow of a retail business.  The assets include 6 furnished rental units that are producing $79,200/year in income.

If the seller's dream home is sold out from under her, the asking price will go up by $200K+.

The price is $915,000, all-in.  The price is non-negotiable as this is the amount the seller needs to acquire their retirement property.  Seller financing is not an option.

SBA financing should be feasible.  I can refer you to a few good SBA lenders if you wish.

It may be possible to run this entity semi-absentee, but I don't think 100% absentee ownership would work well, as face-to-face customer contact is important in a small, local business like this.

Financials

Purchase Price: $132,500 (value of the business - but this will increase with the new $120,000 +/- in new revenue)
Cash Flow: $160,000
Gross Revenue: $326,414
Inventory $ 30,000 (additional to the sale price)
Assets: $20,000 (additional to the sale price)
Real Estate: $752,500 (additional to the sale price, might be available, incidental to the sale of the business, subject to commercial appraisal)
Employees: 3 FT, 1 PT
Founded: 1982
Reason for Sale: Retirement
Training: The seller will assist with the transition.

Total of above: $934,500.  DISCOUNTED FOR FAST SALE TO $915,000, FIRM.

Note: Financials are seller-provided and not audited by Inbar Group ,Inc.

Interested?  Contact me ASAP.  207-223-3000 or message through BP.