Nest: Iconic Brunswick Retail with double digit ROI
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||Buyers are encouraged to offer Earnest Money. Seller will consider financed and SBA offers with a preference for cash. Seller wishes to close before the fall and prefers not to offer seller financing.
Overview / Comments
Nest is a beloved Midcoast Maine retail business for sale for first time in over 20 years. Terrific location in thriving downtown a short drive to Portland. 5 dedicated long-term employees likely to stay on if desired. Owner is retiring after happy decades and is willing to train and transition new ownership as needed. Sales and profits have grown steadily during COVID and are off to a strong 2022 start. 2021 Gross Sales were $1,532,019 and net income was $501,520 after all expenses, salaries etc- this investment can provide around a 50% annual return. Price represents $1M for goodwill, lease, brand and aprox $350,000 of merchandise, furniture and equipment. Long-term 10 year lease in place at below-market price. Triple Net lease includes all shared utilities, tenant pays electric/heat directly, trash/recycling cost is separate. Seller rents a small storage/warehouse space nearby from a 3rd party, aprox. 1500 sqf that could be eliminated or retained. Offers are due by April 5th at 8pm. NDA can be downloaded from this listing and returned for financials, taxes lease etc.
Attachments & Media
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||Ready to retire.
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|Real Estate Lease Description:
||Five years fixed NNN, current monthly total is $4725/mo which comes to $13/sqf for just the first floor, finished basement included free.
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