Northwest Liquor and Wine, the former state-owned liquor store at 12th and Pine, is up for sale. Owner Hardial Gill of Los Angeles, said he’s selling the business because he no longer has anyone to manage the store – his Seattle business partner is moving back to California.
Don’t panic though, the store will stay open throughout the sale.
“Me and my partners live in California, we don’t have anyone to be here in Washington. None of my partners want to be in Washington,” Gill said. “In the liquor business you need someone there. It’s a lot more cash. You need a good manager.” Gill is also the owner of Bergmann Luggage, as well as several convenience stores in California.
Gill purchased the Capitol Hill shop in April, along with 10 other stores across the state, when the Washington State Liquor Control Board auctioned off all 167 of its liquor retail stores and licenses. Gill paid $500,100 for the 12th and Pine store, including inventory.
He and his business partners are now exiting the liquor retail business in Washington. Business was going well, he said, but it was difficult to manage several stores among six business partners.
Gill put the Capitol Hill store up for sale two weeks ago for $585,000, inventory not included. Re-selling the store at a profit would be a departure from the Broadway liquor store and others, many of which re-sold at a loss.
Gill said he’s been talking to interested buyers, but there are no offers on the table.
According to Gill, the store did $220,000 in sales last month. He said the store did $70,000 in sales in beer and wine alone. Gill started offering beer, wine, and cigarettes soon after he took over.
“This store could do $2.5-$3 million in sales (per year),” he said. “It’s a great store, it’s a great location,”
The liquor store is located inside the Richmark Label building. William Donner, president of the label printing business and owner of the building, did not return calls for comment.
And nothing new to report on the former Broadway liquor store – the space at Republican and Broadway is still empty. Real estate firm Kidder Matthews is leasing the property for $136,000 a year.