Nest: Iconic Brunswick Retail with double digit ROI

Business Opportunity for Sale
Catylist Listing ID: 30794848
Property Subtypes: Retail Stores
Building Size (RSF): 7,000 SF
Sale Price: $800,000 - 1,000,000
Name of Establishment: Nest
Year Business Established: 2000
Gross Revenue: $1,532,019 (Annual)
Cash Flow: $501,520 (Annual)
Sale Terms: Buyers are encouraged to offer Earnest Money. Seller will consider financed and SBA offers with a preference for cash. Seller will consider a small portion of seller financing.
Last Updated: 9/22/2022

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 year after year and remain strong in 2022. 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 $600,000 for goodwill, lease, brand. Merchandise, furniture and equipment will be negotiated separately in an anticipated range of $200,000-$400,000. 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. NDA can be downloaded from this listing and returned for financials, taxes lease etc.

Additional Details

Nearest MSA: Portland-South Portland
County: Cumberland
Industry Segment: Independent Stores
Reason for Selling: Ready to retire.
Value of Inventory Included ($): $470,250
Value of Furniture, Fixtures, and Equipment ($): $71,825
Real Estate Status: Leased
Value of Real Estate Included ($): $0
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.
Growth/Expansion Opportunities: This business does not yet have an online component.
Seller Financing Description: Willing to consider a small portion.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,404 18,082 30,164
Median Age: 37.36 41.24 42.96
Households: 3,516 7,561 12,623

Contact

Photograph of Listing Agent

Dave Holman

Kathadin Property Management
NECPE Member
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