Angel investment for purchase of 50 year old Liquor store

Raising $500-$700 thousand to purchase a established liquor store.

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I am looking to purchase a liquor store. I need $500,000 to $700,000 to put 20% down. Business has great financials and is extremely established.  I have all P&L's plus balance sheets from the last 5yrs.  I am not sure asking price from the business but 4yrs ago offered  2.7 million and it was rejected. I would like to ask 3.2 million this time.  The liquor store has been in business for 40 plus yrs. They own the building which is worth 1.5 million. The business has no debt. Inventory levels are valued around $700k.  

Thanks for your time, 

Jason Thiesen 

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