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Mom/Pop grocery, hardware, giftware, and freezer locker business
 Vashon Island, Washington (middle of Puget Sound)Town: Burton, Washington |
Included in the sale of this Grocery store - convenience store - country store business is the commercial building of approximately 5,800 square feet, with business sales area, warehouse, and public freezer room-all on the main floor,and approximately 2,300 square feet of living quarters on the second floor.
The views are the outer bay and beach (one block to the South) and north one block is the inner bay, yacht Club and marina. We have owned and operated this-convenience store business since 1977. We planned to operate this primary grocery store with hardware business until we retire. We have lived our dream of owning our own business. We had hoped to retire on Vashon -but must go to dry climate. This business afforted us a 28 foot cabin cruiser-until I found out my wife got sea sick easy-so it had to go. The business afforded us vacations to Canada-two homes and mostly send our daughter to college and teaching college and pay for it completely. Do not get me wrong -owning your own business is no picnic-but it is rewarding. Over the years we have extensively remodeled the building. We have had new electrical breaker panels put in with extensive electrical rewiring and overload protectors on the big motors. We reworked under the building. We have done some insulating and put in some Thermal Pane windows. We have rebuilt the stairways - put down new vinyl flooring. We have removed the old wood shelving and replaced it with Hussman adjustable metal shelving. Put in upright freezers, and cooler boxes. We have installed electric defrost systems in the built-in cooler box and two in the approximately 22' by 24' Freezer room. We have tripled the stock (merchandise) making this what some call a great country store and some call it a large convenience store; but we like to call it an above average grocery store,with hardware business- still keeping a country store feel. 95 percent of merchandise is delivered to the store. We have extensively remodeled the second floor living quarters also which has a large living room, large country kitchen, large family room with small kitchen, formal dining area, work room, Laundry room, along with the 3 bedrooms and 2 bathrooms. The second floor could be converted back to two apartments with little work and expense.
The Island has many retired people and is the bedroom community for the people who work in Seattle and Tacoma. Vashon Island is home to a number of small farms, plus the Island has a plant called Software Research NW (they make Computer software), and a scientific measuring instruments co. Plus I believe what has brought famous people like Tom Selleck, Rutger Hauer (Blade Runner), Susan Rutledge (secretary L.A.Law), John Ratzenburger (mailman on Cheers) to Vashon is the many amenities.
| Paradise Ridge Park, Agren Memorial Park, Fern Cove, Mileta Creek, Wildlife Refuge, Spring Beach Park |  |
, and newest-Burton Street Course & Climbing Gym and BMX Disc Golf (9 hole) Course. |
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I might add the children are schooled on the Island. This has been a good solid above average grocery, hardware business for us over the last 30 years, and also for the last three owners, and continues to grow. We are forced to sell due to our age and my allergies; which has also forced me to move to Boise, Idaho (Dry Climate). My wife runs the business and flies between Vashon, Wash., and Boise, Idaho each month, and I do not like this type of living arrangement. I see her only 3 days out of a month and I must say I miss her even after 47 years of marriage. It is time to retire.
The TOTAL asking price is approximately $751,000.00; In that price includes the commercial building with living quarters, fixtures, and the established business. The merchandise is extra and approximately $75,000 at wholesale price.
Besides our carrying a note and deed of trust -which the buyer would need approx $250,000 cash or ?,including closing costs, plus approx $75,000 to cover merchandise- and if you want to use a Real Estate Broker/Agent then you pay their commission. We would look at doing a partial 1031 exchange with income producing property in South Idaho and we are even open to any reasonable constructive suggestions as to an exchange--- NO personel property. We would also look at a house or farm as part down of the exchange in southern Idaho. At our age and health we are not looking for any convenience store, grocery store or country store, or your alligator (problem property that eats money ever month) nor your property whom no one will buy because of it's being overpriced. We are tired of the curious, wishful, sharks and Real Estate agents-I have a Real Estate broker's license. We will not answer telephone calls. We are not being rude- just tired of the same questions from people with no money We are looking for principals only We expect upon your request for information and before we send out our package. You fax us a letter from your bank --- the fax telephone number is below---showing your good current complete credit report with rating score and that you qualify to purchase our property; which means have the down payment - cash on hand or selling property to get the cash needed. You can also get a credit report from www.annualcreditreport.com Include your telephone number-because we do not answer out of state telephone numbers. You cannot borrow your down payment and expect to make it, also we will not be put in any second position Nor will we sell to a company or corporation. Upon receipt of your letter-we will send you our Real Estate Purchase and Sale Agreement, our financial package showing a breakdown of sales, operating expenses,and profit,for the last 3 years and a fixture breakdown. After reading it- if you are still interested ---telephone us -- only after you receive the package---and we will discuss the rest and at that time setup an appointment to view the property We do not want to take the property back-so we feel we have priced it right and with us carrying the Note and Deed of Trust the terms will be far better than any bank. We would like people who are solid, like people, and owning their own business. We will make every effort to show you how to run the business sucessfully. We have lived our dream and now it is time to retire Depreciation, amortization, or extending the store hours (now only 6 days 9am to 6:30pm) have not been figured in the sale price, like so many delusional people selling their business. This is a good solid business and has given us an excellent return and a great place to live and raise our daughter. I might add the side yard could be converted to a seasonal weed and feed operation Note we have two ways to structure this sale. Number One-We can finance this sale with a large downpayment and carry the Note and Deed of Trust (which we prefer-due to our age) and two- as a partial # 1031 Tax deferred exchange if we can find income property in southern Idaho, and if so then all parties must agree to a simultaneous (IRS #1031)closing on properties seller's propose to purchase, which may extend the closing date on this property. If we cannot find another property to our liking to do a 1031 exchange within 60 days -the transaction will become null and void, and no legal action will be taken by any party. You could not replace the building for the amount we are asking. You will not get a better return on your investment. That comes from 31 years in Real Estate. We feel this is an exceptional purchase and a great way of life for a family to live and work in this beautiful place. We will miss it and the people.
Remember depreciation, amortization, side yard sales setup and extending store hours will increase your income.
There is room to grow and potential is what you make it.
Telephone 208-362-5774 Fax 208-362-4834 Updated 7-28-2008
mail Ada County Realty Inc. 7180 Chilacot Dr., Boise, Idaho 83709.
fmsmam@velocitus.net
Links to information sites.
vashon_island
baldeagle
harvest
boating
Puget_sound
seattle
lighthouses
flowers
seattle Boating
PS wines
PS kayaking
bird Watching
Vashon pictures
vashon schools
for Kids
small business administration
Sandy and Fred's business web page
