One-of-a kind general store, liquor store, marina and gas station located in Southern BC.
The business serves the local community but is seasonal, with high tourism business in the summer. It's great business for someone who likes to snowbird in the winter!
value of this business is primarily in the real estate that comes with it. Property Highlights:
- 1.61 acres of waterfront property with 535 feet of waterfront
- Commercial zoning
- Approximately 20 years remaining on foreshore license for marina
- Property includes rental cabin and has room to build additional units and new store
- Property has been surveyed and engineered plans prepared for potential development of store and additional rental cabins
Asking Price: $1,100,000 plus inventory value
Income and Cash Flow: NDA Required
Take this business and property to the next level and build out to suit future business needs! Don’t miss out on this incredible opportunity to own a one of a kind waterfront property with a long standing business and significant potential for future growth! Property has engineered drawings for future business building on land and/or rental properties.
Owner is looking to retire from business and willing to help new buyer with transition.
Key Points About the Business and Assets
The property and business are really one of a kind! There are two main assets to the business:
1. 1.61 acres of prime waterfront property with 535 feet of waterfront, long term foreshore license (17 years remaining) and existing marina. The property itself is one that is unique to the community and has a ton of rental cabin and moorage development potential on the property. We’ve had an engineering firm help with a design idea for multiple rental cabins that can be added and either a potential location to move the store on land or a multi-unit rental complex.
2. The business itself. It is the only business that serves the small tourism community of Seymour Arm. The next closest convenience store/liquor store/gas station is approximately 50 kilometers away. It serves as the hub of the community. While we are looking to step away from the business for family reasons, we have loved running the store for the past 9 years and hope to see a future owner considering one of three things with the business.
#1 – Run the business as a whole
Currently the business runs within a floating store in the marina. The 1.61 acres of property is only currently used for storage, fuel tanks, one small rental cabin and parking. The property could be expanded to include multiple rental cabins and/or move the store onto land. While the store itself on water is a novel concept, a new owner would want to consider moving the store onto land and expanding the existing marina.
#2 – Purchase & relocate the business The business itself could easily be moved onto a different property in Seymour Arm to take advantage of more affordable real estate for the business itself. This would include the general store and liquor store aspects of the business and leave the fuel and rentals behind on the property. We’dbe open to helping a potential buyer of the business work with our realtor to identify a new location to move the store and separate it from the property itself. That would significantly reduce the purchase price of the business and allow the cash flows of the business to better support the business.
#3 – Purchase the real estate only
The business sits on prime real estate that could be of interest to someone that likes property development and has an eye for rental properties. The business itself could be moved off of waterfront property and still be a successful business. That would leave more real estate to focus on
rental properties and expanding the marina. The real estate is the primary asset of the business as a whole from a value perspective. If a purchaser is only interested in the land itself we would be willing to work with a purchaser to relocate the business assets and activity.
All three of these potential approaches could be of interest to a buyer depending on if they want to step into a turn key business, focus on the main business aspect and reduce the purchase price by relocating it onto more affordable real estate, or focus purely on expanding the real estate opportunities without the general store component. We’re open to exploring any of these three options with a potential buyer.
Purchase Price Considerations
• Asking price is $1,200,000 Certain assets could be excluded if the purchaser has existing assets to suit.
• We will decrease the purchase price to $1,100,000 if the purchaser acquires the business and property together.
In addition, we would include approximately $50,000 in inventory as part of the purchase, as well as provide a $100,000 vendor takeback against the $1,100,000 purchase price in the form of a $20,000/year credit on account at the store for the five years following the purchase. This would result in a cash purchase price of $1,000,000 to acquire the entire business.
