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Business for Sale Summary

Niche Storage Facility for sale in New Jersey - 33681

Business Type: freight moving/delivery/storage/warehousing,misc. servicel/non-classifiable,other business services,seller financing available,non-classifiable establishments,storage facility
Owner Financing
Niche Storage Facility for sale in New Jersey
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Financial Information (non-confidential)

General Information
Asking Price $5,700,000 Down Payment $3,500,000
Gross Revenues $3,197,000 Lease Remaining Register Free to View
Owner’s Cash Flow $1,537,000 Number of FT Employees Register Free to View

Financing

$3,500,000 Down and Balance at 5% over terms to be determined with qualified buyer

Business Description

A niche Cold Storage business with two locations in New Jersey. Started in 2016 and is at full capacity with pallets in the aisles. First facility holds over 2700 pallets with Fraiser racking stacked vertically 5 pallets high. It holds another 1000 pallets in the aisles and 300 in a refrigerated box for a total of over 4000 pallets. Product turns rapidly. Second facility sits close to ports and holds an additional 2500 pallets. Over 61,000 square ft of frozen and cold storage. Customers include fortune 500 companies, nationally known ice cream, seafood, meat, bread, pharma, ice pack manufacturers and e commerce meal delivery companies, etc. Extended leases with landlord incentives to update the facility. The business is run semi absentee. There is currently a 73,000,000 million square foot shortage of Cold Storage, which offers the perfect opportunity for rapid expansion. The owner has over 40 years' experience in the business and ls well known in the industry. He will assist and consult with the buyer to keep the facility full with plans for expansion. Seller turned away significant work and is looking to acquire a larger facility which will more than double its capacity. With the demand at an all-time high, it will fill within 6 months. This move will make this business a major player in the NJ market. This makes for a perfect opportunity for the buyer. Due to Covid the business has exploded with national companies desperately in need of frozen space. Seller deals with industry leading companies and manufacturers. Inventory turns and profits and have accelerated. Customers are asking seller to expand and add order fulfillment. There is also a large opportunity to offer trucking services to the current customer base. Seller is looking to retire, leayjng a huge opportunity for buyer. The numbers presented are trailing 12 months and will be verified in due diligence. Significant proof of funds and business background is required for a call or meeting with the owner. No bank financing by buyer will be considered. Seller win provide financing for the qualified buyer. Contact Joseph Stansky for more details.

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Disclaimer: The financial information in this business listing has been provided by the Seller. Vested Business Brokers, Ltd. (VBB) has not independently verified this information. Therefore, we make no claims as to the accuracy of this financial summary. Vested recommends that you consult with an accountant, attorney and/or other professionals to represent and assist you in any business transaction. One of our associate brokers will arrange a meeting between you, your representatives, and the Seller, but they are not authorized to make any representations or warranties on behalf of the seller or VBB. You agree to hold Vested Business Brokers and its associated brokers harmless for any misrepresentations made by seller.