Luk Oil Gas Station

Morris County, NJ

Seller Financing Available
Luk Oil Gas Station

Asking Price:$75,000

Cash Flow:$59,000

Gross Revenue:$210,000

EBITDA:N/A

FF&E:$45,000

Inventory:$25,000

Established:1970

Luk Oil Gas Station

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Business Description

Solid business opportunity to own this active Luk Oil franchise fuel gas station on a busy highway in Passaic County, New Jersey. The business has a clean attractive image, consists of three bays, lots of storage and a modern office with a very low monthly rent of $800. The buyer can convert the office to a C-Store which has been preliminary approved. The sale also includes a large variety of equipment required for this auto repair business. The business presently has two employees that will remain with the business after the transition. This is a solid business and an excellent opportunity, a must to see to fully appreciate. Based on the asking price, required down payment and net income this business transaction should supply a 45% return to the owner operator prior to debt service. The seller will supply financing with a modest down payment to a qualified purchaser. This is an excellent business opportunity with substantial growth potential to the owner operator. The sale includes multiple auto lifts including various equipment required for this particular auto repair industry. This retail business requires a minimum of two employees, who are presently unaware of the pending sale and expected to remain post closing. This site has substantial private parking on the site and part of the lease. The business is operational seven days weekly with hours from 5:00 am to 9:00 pm. The business has a Certificate of Occupancy for this location to conduct business and requires franchise approval. The business has a long term commercial lease with a monthly rent of $1,200. Based on the asking price, required down payment and net income this business should supply a 25% return to the owner operator prior to debt service.The business gross yearly income is $210,000 and a yearly net income of $59,000.00. The asking price is $75,000 and seller financing is available to qualified buyers with a $35,000 down payment. This sale is confidential to employees and public, all viewings are by appointment only. Inventory is included in the price due to the franchise agreement.

Detailed Information

Inventory:
Included in asking price
Employees:
Two
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
The facility consists of 1,900 square feet with 200 feet of highway. The business has three bays, two MPD’s, and a large canopy. The site has substantial private parking on the site as part of the lease agreement. This business is located on an active state highway in Northern Passaic County, New Jersey. The business has an excellent location and services numerous communities in the general area.
Competition:
Based on the amount of drive by traffic and the urban population, this particular area has limited competitor’s gas stations in the general area. The seller has agreed to supply a long term non compete agreement to the new operator.
Growth & Expansion:
With a marketing plan this fuel gas station can be further developed.
Financing:
Seller financing is available w/ $35k down.
Support & Training:
The seller will remain after closing and supply a two week transitional period.
Reason for Selling:
The seller is retiring after many years of success in this industry.

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Ron Cervelli

Business Listed By:
Ron Cervelli

Regal Consulting Corp.

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