Somersworth, NH (PRWEB) September 27, 2009
JJManning Auctioneers is proud to offer this busy convenience store k/a Stateline Minimart - selling general merchandise, lottery tickets, beer and wine with 5 rental apartments above. The building is in a prime location on the Maine border, near public transportation, park and the Piscataqua River. It will be sold on-site at absolute auction - selling to the highest bidder, regardless of price.
The store gross income typically ranges between $35,000-40,000/week and growing; estimated $1.7-$1.8 Million exclusive of lottery and rental income on 2009 tax return. Rental Gross Income is estimated at $38,100 annually from (4) 1-bedroom apartments at $650 per month & (1) Studio apartment at $575 per month. One tenant recently moved, 4 units occupied. Rent includes propane heat & water. The lottery net inclome typically ranges from $1,300-1,400/month; estimated $16,000 net annually.
The terms of sale include a $25,000 deposit in certified, cash or bank check at the auction. The balance is due in 45 days. Other terms, if any, will be announced at the sale. All information is derived from reliable sources believed to be correct, but is not guaranteed. JJManning Auctioneers is acting exclusively on behalf of Seller in this transaction.
A 2% Buyer's Broker Commission is available; details & mandatory pre-registration requirements can be viewed at http://www.JJManning.com.
Friday, October 16th at 12pm On-site
Property Tours are by appointment only and can be arranged by contacting the Auctioneer's office.