Exact location provided on inquiry.
About this opportunity
A BP gas station and convenience store (no repair shop) on a busy road in Blue Point, Suffolk County. This is a sale of the business goodwill by lease assignment; the real estate is not for sale.
The lease is 10 years plus two 5-year options, for up to 20 years, triple net (the tenant pays all expenses). Rent starts at $11,000 a month for the first 6 months, then $12,250, $13,000 and $13,500 for each following 6 months; each figure includes $3,000 a month in real estate taxes. After these 2 years, rent rises 2% a year. The landlord also pays you a rebate of 2 cents on every gallon sold, on top of your fuel margin: at 50,000 gallons, that is $1,000 a month. Key money is $375,000, plus a $30,000 refundable security deposit and a $40,000 refundable BP gas deposit. The transfer or assignment fee will be waived or included in the key money.
The station is run by an absentee owner and could be run much more effectively. It pumps about 50,000 gallons a month at margins of about 32 cents (regular), 65 cents (super) and 85 cents (diesel), about $17,000 a month in all. Store sales are about $45,000 a month; at a conservative 30% retained (35% is standard) that is $13,500 a month. Lotto sales of about $66,700 a month earn about $4,000 a month. ATM and vacuum commission is $350 a month, parking rent about $750 a month, and the credit-cash price difference about $1,500 a month. The seller says the station has netted about $12,670 a month averaged over the past few years. It has 2 workers, but only one is needed per shift. A food truck or U-Haul space on the large lot could add income.
Records of gas volume and store sales, with receipts, are available to confirm these figures. Please contact the broker for the address; proof of funds may be requested. If you visit, please do not speak with the staff, who will be told at the right time. Brokers are welcome.
Highlights
- Up to 20 years of lease (10 years + two 5-year options)
- Landlord pays a 2-cent-per-gallon rebate on top of your margin
- Starting rent $11,000/mo including $3,000/mo real estate taxes
- About 50,000 gal/mo at 32¢ regular, 65¢ super, 85¢ diesel
- Store sales about $45,000/mo, lotto about $66,700/mo
- Seller-stated net about $12,670/mo (absentee owner)
- Transfer fee waived or included in the key money
Financial details
- Key money
- $375,000
- Real estate
- Business only
- Fuel volume
- 50,000 gal/mo
- Fuel brand
- BP
- Inside sales
- $45,000/mo
- Monthly rent
- $11,000
- Lease
- 10 years + two 5-year options (up to 20 years), triple net
- Rent, months 1–6
- $11,000/mo (includes $3,000/mo real estate taxes)
- Rent, months 7–12
- $12,250/mo (includes $3,000/mo real estate taxes)
- Rent, months 13–18
- $13,000/mo (includes $3,000/mo real estate taxes)
- Rent, months 19–24
- $13,500/mo (includes $3,000/mo real estate taxes)
- Rent after year 2
- Increases 2% every year
- Landlord rebate
- 2 cents per gallon sold, on top of your margin (e.g. $1,000 at 50,000 gal)
- Fuel margins
- About 32¢ regular, 65¢ super, 85¢ diesel (about $17,000/mo)
- Lotto sales
- About $66,700/mo (about $4,000/mo commission)
- Security deposit
- $30,000, refundable
- BP gas deposit
- $40,000, refundable
- Transfer / assignment fee
- Waived or included in the key money
- Staff
- 2 workers; only one needed per shift
| Item | Amount |
|---|---|
| Income | |
| GasAbout 50,000 gal/mo at 32¢ regular, 65¢ super, 85¢ diesel | $17,000 |
| Convenience storeAbout $45,000/mo sales × 30% retained (conservative; 35% standard) | $13,500 |
| Lotto commissionOn about $66,700/mo in lotto sales | $4,000 |
| ATM / vacuum commission | $350 |
| Parking rent | $750 |
| Credit/cash price difference | $1,500 |
| Total income | $37,100 |
| Expenses | |
| RentFirst 6 months; includes $3,000/mo real estate taxes | $11,000 |
| Payroll & payroll taxes | $9,000 |
| UtilitiesInternet, water/sewer, garbage pickup | $1,870 |
| Insurance | $800 |
| Total expenses | $22,670 |
| Net income | $14,430 |
Seller-stated net: about $12,670/mo averaged over the past few years. The seller listed only some expenses. The landlord's 2¢/gal rebate is not included.
Figures are provided by the seller and have not been independently verified. Buyers should perform their own due diligence.