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Broker Name:Ronald Cervelli
Broker Email:contactus@regalconsultants.com
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Gas Station with Car Wash & C-Store
(Automotive , Gas Station)
Passaic County, NJ
Listed Price: $ 169,000
Listing ID: GST343

Listing DetailsGross Revenue: $ 446,705
Cash Flow: $ 62,781
FFE: $ 120,000 (Included in Price)
Inventory: $ 53,000
Reason for Sale:

The purpose of this sale is due to the owner family illness.


Training & Support:

The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator.


OperationsYear Established: 1996
Days & Hours of Operation: Mon.-Sun. 5am-9pm
Non-owner Payroll: $ 3,600
Employees: 3
Absentee Owner: No
LocationLease Expire: 0000-00-00
Monthly Rent: $ 11,204
Square Footage: 5000
Facilities:

This gas station business opportunity is in Northern New Jersey, Passaic County, which consists of numerous highly populated municipalities and communities with continued demand for this industry. This successful fuel and retail facility which consist of approximately 2,650 square feet has a modern and attractive appearance to the customers they serve. The sale also offers a separate car wash structure with a consistent income. The station consists of 5,000 square feet, has four MPD for high volume service and a large canopy.


SummaryBusiness Description:

Solid business opportunity to purchase this active Luk Oil gas station with Car Wash, Lotto income, rented garage and retail Convenience store located in Northern New Jersey Passaic County. This gas station operation sells 602,551 gallons of fuel yearly, has an active retail convenience business and car wash and collects $3,000 monthly rent from the auto bays. For Qualifications purposes, this business opportunity industry does not require government licensing approval to purchase or operate other than the standard municipal licenses and franchise approval. Regarding employees and payroll, this franchise gas station and retail company routinely has three full / part time employees who are unaware of the pending sale. The payroll is primarily based on an hourly basis, the staff is fully expected to remain post-closing, and the monthly payroll expense is approximately $3,600. The business transaction has an assignable commercial lease which expires 2020-01-01, plus additional options available, with a monthly rent of $11,204, cost per square foot is estimated at $26.89 and rent security of approximately $53,000. The business fixed assets has an estimated value of approximately $120,000 which is specifically based on the original equipment and licensing replacement cost. This successful fuel and retail C Store business operation is active seven days per week, with hours from 5:00 am to 9:00 pm. The 2017 yearly gross income represented by the seller owner is $446,705 and the business has a yearly net income of approximately $62,781 based on an absentee owner operator and prior to any debt service. Also, due to a percentage of possible non-disclosed income, a formal due diligence is recommended to the purchaser. The business has been valued / priced at $169,000 which is based on a multiple of the net yearly income and includes the value of the specific business assets. Also, possible seller financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. The business is maintained semi absentee with a consistent net income to the owner operator. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and the photo does Not represent this particular business opportunity.


Competition:

Regarding competition, to the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.


Potential Growth:

The business can be further expanded with an onsite owner operator, presently has a limited marketing plan, no local advertising, no fuel customer accounts, poor web site and if improved can further develop the business yearly gross sales.


Financing/Terms:

May be considered to a qualified buyer with an appropriate down payment.