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SUBSEQUENT EVENTS
6 Months Ended
Apr. 01, 2023
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

(10) SUBSEQUENT EVENTS:

 

Purchase of Real Property

El Portal, Florida (“Big Daddy’s Liquors”/Warehouse)

 

During the first quarter of our fiscal year 2023, we entered into a Commercial Contract with a non-affiliated third party for the purchase of the real property it owns located at 8600 Biscayne Boulevard, El Portal, Florida consisting of approximately 6,000 square feet of commercial space which we sublease and where our “Big Daddy’s Liquors” package liquor store and our warehouse (Store #47) operate for $3,200,000. We paid $160,000 on deposit under the contract for this transaction and paid the balance of $3,040,000 in cash at closing. On April 25, 2023, we closed on the acquisition of the property.

 

Hallandale Beach, Florida

 

During the third quarter of our fiscal year 2022 we contracted for the purchase of a three building shopping center in Hallandale Beach, Florida, which consists of one stand-alone building which is leased to two unaffiliated third parties (approximately 1,450 square feet); a second stand-alone building which is leased to one unaffiliated third party (approximately 1,500 square feet); and a third stand-alone building which is leased to one unaffiliated third party (approximately 2,500 square feet) for $8,500,000. The real property is located adjacent to our real property located at 4 N. Federal Highway, Hallandale Beach, Florida, where our combination package store and restaurant, (Store #31), operates. We paid $2,000,000 on deposit under the contract for this transaction and paid the balance of $6,500,000 in cash at closing. On April 27, 2023, we closed on the acquisition of the property.