Hi,
I'm interested in buying a small family owned grocery store. The listing has been active for 2 months already. They originally listed at 450K and it has come down to 398K now. They're only selling the lease opportunity and their shelving basically. No stock.
The sellers realtor stated that they would only be interested in accepting an offer if it is over 200K.
The listing claims they did 500K in renovation and make over 500K a year.
They have rejected our first offer at 120K but we feel like that's how much its worth.
We had a regular realtor (not business broker or commercial realtor) come with us the first time but we want to try and approach them one more time before we totally give up on this opportunity.
The question I have is should we approach them again with the same realtor and leave in a written offer this time? Last time we only gave a verbal offer and they rejected us right away. Or should we wait until another month passes by and then reach out again?
Thanks