MLS® ID: 301801

1321 Coastal

PANACEA, FL, 32346

$3,000,000 Active
  • 6000 SQFT
GAS STATION, SHIP'S STORE PLUS!!! Crum's Mini Mall is practically an "institution" and the center of shopping activity in the area. Crum's is the largest retailer of marine gas in the Panacea area, which attracts & adds to the customer base. This one-stop shopping center for addressing all fishing/marine-related needs is just around the corner from Rock Landing Marine (Dickerson Bay). Since the gas, marine & otherwise, tanks and pumps have been replaced with new state-of-the-art equipment and have been relocated to be closer to additional new ice machines, it is easy for a fishing group to gas up, pick up ice, bait, rods, etc. without moving their vehicle from the gas pumps. That's a good change for the customer, and the owner benefits from a new and costly "point of sale" computer system which analyzes each transaction as to product sold and profit margin, in addition to the benefit of maintaining timely inventory control. Additionally, the owner has added significantly to the freezer capacity of the store, augmenting its current reputation as the most reliable source of all types of bait, and has invested in new attention-getting signage, and substantial innovations to the physical plant. All of the above very-costly improvements not withstanding, a buyer of this property will be buying it with a million dollar-plus paid-in-full inventory and with no debt against the property or business. Projected gross for 2019 is $4-4.5 million with the buyer able to draw against a possible net of $800,000 and/or reinvest a portion in the business. This net is available due to owner's new competitive buying system, plus his deletion of products with a lower profit margin and replacement of said lines with higher-yield products. Financials and Tax returns will be made available to serious prospects. The current proprietor will make himself available, post closing, to the business for a transition period, allowing a purchaser the benefit of the goodwill that has accrued to the business over the years. Crucial staff is available for retention. This listing is for two adjoining parcels - 24-5S-02W-045-03002-000 (.352 acres) and 24-5S-02W-045-03003-000 (.157 acres).
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Listing courtesy of Shell Point Realty, Inc

Amenities

  • Zip
    32346
  • Office name
    Shell Point Realty, Inc
  • SQFT
    6000
  • Property type
    Commer/Business/Industr
  • Lot size
    0.51
  • Heating
    Central Building
  • Agent name
    Byron Price
  • Tax amount
    $ 0.0
  • Price Range
    $2m+
  • Square Feet Range
    5000-7000 sq ft.
  • Acreage Range
    .5 - .9 acres
  • Office ID
    367
  • Agent ID
    9533

Location

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