Seller Financing Available
Gross Revenue: $550,000
* not included in asking price.
Independent Gas Station w/ C-Store
Independent gas station and property with approval for a Convenience store located on a highly active county road in Passaic County, Northern New Jersey. The business has No fuel contract. The site is 22,500 square feet, with a canopy and a 2,500 square foot three bay garage fully pre-approved for a retail store. The business has fuel sales of 850,000 gallons yearly with a substantial profit pool margin. The site has two islands with new pumps and two eighteen-year-old newer ten-thousand-gallon double wall fuel tanks. The property has recently had a phase 1 test to evidence that the land is environmentally clean. The sale includes a fully equipped commercial gas station with approval for a retail convenience store business. The sale also includes all of the underground equipment, tanks, pumps, including all the necessary equipment to maintain the day to day business operation and a list of assets will be supplied to purchaser upon request. This particular business has two employees who are unaware of the pending sale and fully expected to remain post-closing, monthly payroll $3,400. The property is 150 x 150; the business consists of a free stranding facility 2,500 square feet has a capacity for approximately twenty customers. The facility has appropriate private parking on the site. The business is active seven days per week, with hours from 6:00 am to 10:00 pm. The sale includes a certificate of occupancy from the particular municipality and the required state or city licenses to conduct its day to day business. This is a dependable business opportunity and based on the asking price, required down payment and yearly net income, this business expect to supply a substantial investment return to the owner operator prior to debt service. The 2015 yearly income is $550,000 and yearly net income of $100,000 prior to debt service. However, with the input of a convenience store the income can be substantially developed and improved. The opportunity has been valued at $895,000 based on a multiple of the net yearly income, real estate value and the value of the specific business assets and seller financing has been approved to a qualified buyer with an appropriate down payment. Please do not disturb business, this sale is absolutely confidential, all viewings are by appointment only and photo may not represent this particular business.
Inventory: Not included in asking price
Furniture, Fixtures, & Equipment (FF&E): Included in asking price
Facilities: This highly successful retail facility consists of a 2,500 square feet three bay garage with office pre-approved for conversion to a convenient store. The business location is a free standing structure with a full canopy and lots of private parking. This gas stations opportunity with property is located in Northern New Jersey, Passaic County, which consists of various affluent communities with continued demand for this particular product. The business is located on a highly active commercial county road with a high volume of daily traffic. The assessed property value $621,800 and the 2015 real estate property taxes is $12,895.
Competition: To the best of our knowledge due to the unavailability of the required permits, no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser.
Growth & Expansion: The auto repair bays must be changed to a retail convenience business in order to further improve and develop the highest and best income.
Financing: Seller financing is available to qualified buyers.
Support & Training: The owner will remain post-closing for 30 days and supply a transitional period.
Reason for Selling: The owner is retiring after many successful years.
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