Caribbean Business & Real Estate For Sale - Food and Grocery

4037 La Grand Princess St Croix, U.S. Virgin Islands, FL 00820

4037 La Grand Princess, St Croix, U.S. Virgin Islands, FL, 00820
4037 La Grand Princess, St Croix, U.S. Virgin Islands, FL, 00820
FOR SALE
Property Type:
Other Hospitality
Amount:
$7,017,359
Last Verified:
Aug 06, 2020

Highlights

  • The Virgin Islands Economic Development Commission (“VIEDC”) offers a unique and attractive tax incentive program for companies locating in the USVI. This is a competitive off-shore tax benefit program that is sanctioned by the U.S. Government through an Act of Congress under the Internal Revenue Code. Below are the USVI key points:
  • - 90% reduction in corporate income tax
  • - 90% reduction in personal income tax
  • - 100% exemption on excise tax
  • - 100% exemption on property taxes and gross receipts tax
  • - Imported goods pay only 1% duty in comparison to the statutory 6% customs rate

Description

"Food Town Supermarket" is a Neighborhood Supermarket and located on one of the most beautiful and tropical islands located in the Carribean Sea located on the Island of St. Croix, USVI.

This well established healthy grocery store is committed to providing superior products and services to their Customers. The business and property has been owned and operated by the same owners for the last twenty-one years. The business is housed in a 17,600 square foot building that was remodeled in 2013, with 8,000 square feet of retail space and 9,600 square feet of dry and refrigerated storage on .82 acres of land.

Known for their large variety of grocery products that meets the demand of day to day necessities. Food Town Supermarket offers high quality, fresh meats, baked items, produce and much more!

- Owner has 3 additional parcels next to the property, total of 2.85 acres for possible purchase for expansion.

*Equipment (Refrigerators, Walk-in Coolers, Walk-in Freezers, and much more) $1,500,000.00

*2019 Gross Sales: $4,981,945.97
*NOI: $948,564.53

*Gross Sales June 30, 20: $2,565,546.55

*Property: $3,478,000.00

Food Town Supermarket is a neighborhood supermarket and located on one of the most beautiful and tropical islands located in St. Croix, USVI and is committed to providing superior products and services to their Customers.


Year Built: 1998
Building Size: 17600.0sq ft
Lot Size: 0.82 acres

Map of 4037 La Grand Princess, St Croix, U.S. Virgin Islands, FL, 00820

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.