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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Luk Oil Gas Station w. C-Store
(Automotive , Gas Station)
Passaic County , NJ
Listed Price: $ 285,000
Listing ID: GST308

Listing DetailsGross Revenue: $ 350,000
Cash Flow: $ 85,000
FFE: $ 125,000 (Included in Price)
Inventory: $ 40,000
Franchise Info: This business is an established franchise
Reason for Sale:

The owner is retiring from this industry after many successful years.


Training & Support:

The seller will remain after closing and supply a long term transitional period.


OperationsYear Established: 2005
Days & Hours of Operation: Mon.-Sun. 5am-11pm
Non-owner Payroll: $ 5,500
Employees: 3
Absentee Owner: No
LocationLease Expire: 0000-00-00
Lease Security: 10000
Monthly Rent: $ 6,500
Square Footage: 2200
Facilities:

Located in an active community of Passaic County, Northern New Jersey on a county road close to two major state highways. The site consists of 19,000 square feet and the ultra modern facility consists of 2,200 square feet. The business has a 1,200-square foot C-Store and 1,200 square foot two bay garage. The facility also has a private office and lots of storage.


SummaryBusiness Description:

Seller relocating from this successful Luk Oil Gasoline Station with an active Convenience Store, Lotto and two bay garages. The business is located in Passaic County, Northern New Jersey on an active county road with a high volume of drive by traffic. The business income consists of fuel sales, a busy C-Store, Lotto and auto repairs. The seller is retiring from the industry after many successful years and will train a new operator post closing. Franchise approval is required prior to closing. The sale includes a fully equipped C-store with refrigeration & freezer units, displays POS system, etc. The two bay garages consist of a computer system, two lifts, high end specialized equipment with a value of $125,000 based on replacement cost. The fuel station has two islands, four pumps with a full canopy and four 6,000 tanks. The site has substantial private parking for fifteen vehicles at the location. The Gas Station/C-Store is active seven days with hours from 5:00 am to 11:00 pm. The business is Lotto approved and has a municipal CO to conduct this business. The business has a franchise agreement for this location at a monthly total rent of $6,500, lease expires 2018/01/01 plus options, cost per square foot is $18.90 and rent security of approximately $10,000. The employees consist of one mechanic; two fuel attendants and none are aware of the pending sale and are expected to remain post closing monthly payroll is $5,500. This is a wonderful business and excellent opportunity to enter the profitable auto industry. Based on purchase price and required down payment the buyer will obtain a forty percent (33%) return on investment. Please call for additional information. Viewings are by appointment only, employees are not aware of the pending sale and the enclosed photo may not represent the particular business.


Competition:

No other gas station, C-Stores are nearby to this business and the seller will supply a non-compete to the purchaser.


Potential Growth:

With continued good service and developing corporate accounts, this business can be further improved and developed.


Financing/Terms:

To be determined.