Details - Information last confirmed on February 8, 2021
Listing ID # 33547
This Absentee-Run Boutique Wine & Spirits Shop is located in one of the most upscale and frequented neighborhoods in Manhattan. The owner, who used to spend at most 10 hours/week at the shop, has visited the store just one day/month since the Covid-19 pandemic broke out in March 2020. He has a knowledgeable staff that basically runs the store for him, while keeping his finger on the pulse of the business from afar.Should you decide to be more hands-on, you could put up to another $100K in your pocket through staff reductions and continue to improve the store's already superb customer service. It specializes in small-production, earth-friendly wines from around the world and supports smaller, family-run vineyards, where true passion and generations of pride go into the winemaking -- where quality is still valued over quantity. You will find a fine selection of craft-spirits there as well, including small-batch whiskeys, which are very popular these days. Of course, you can transform the product mix to your liking once it's yours. The rent escalates at just 2.25%, annually. Rent and RE taxes combined average out at about $25K/month. The financials shared here are for the calendar year ending 2019. The numbers for 2020 far exceeded those for 2019 and will be reflected here as soon as the owner's accountant has completed the tax return. The asking price has been raised to $600K from $450K in anticipation of that. Business continues to be as strong in 2021. Upon visiting the location, please do not say anything to the employees or customers, as they do not know the business is for sale. Then, kindly email the listing broker to make an appointment to speak with the owner and then get a full tour of the facilities.
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