BP Gas Station, C-Store & Repair Shop, Yaphank

About this opportunity

A BP gas station (no canopy) with a convenience store and a large 3-bay auto repair shop on a busy road near major highways in Suffolk County. It is a business-only sale with a 17-year lease to be assigned, and a good fit for someone who wants to run the station themselves.

Rent is $7,800 a month plus $2,000 a month for taxes, so $9,800 in total. The repair shop is sublet at $4,800 a month on a month-to-month basis, which is below market, and a taco truck pays $1,700 a month. That brings your effective rent down to $3,300 a month. Market rent for the repair shop is about $6,500 to $7,000 a month, so re-letting it could lower your effective rent to about $1,100 to $1,600 a month.

There are other possible upsides. Renting parking on the 0.5-acre lot (room for 150 or more cars) could bring in about $6,000 a month, which would cover the rent and leave about $4,400 to $4,900 on top. If you run the repair shop yourself, 35% of an estimated $40,000 in monthly repair sales would be about $14,000 a month. A new canopy costs about $80,000 to $90,000 and would likely bring in more business. These are possibilities, not guarantees.

Store sales are about $28,000 to $30,000 a month at a 35% retained margin (about $9,800 to $10,500). Cigarettes are less than half of sales and earn 15% instead of the usual 10%. Lotto commission is about $375 a month and has been poorly managed, so there is room to improve. Gas is about 25,000 gallons a month: 22,800 gallons of regular at $0.40 a gallon, and super at $0.60 a gallon. There is no diesel. One attendant covers the store and the full-service pumps. The seller says the business nets about $10,000 to $11,000 a month as an absentee owner, and $15,000 to $25,000 a month is possible depending on how you set it up.

Highlights

• Repair shop and taco truck sublets bring effective rent down to $3,300/mo
• 17-year lease to be assigned
• Large 3-bay repair shop near major highways
• 0.5-acre lot with room for 150+ parked cars
• Gas margins of $0.40/gal regular and $0.60/gal super
• Seller-stated net about $10,000–$11,000/mo as an absentee owner
• No canopy (a new one costs about $80,000–$90,000)

Financial details

Key money

$285,000

Real estate

Business only

Fuel volume

25,000 gal/mo

Fuel brand

BP

Monthly rent

$9,800

Lease

17 years, to be assigned

Lot size

0.5 acres

Rent breakdown

$7,800/mo rent + $2,000/mo taxes = $9,800/mo

Repair shop sublet

$4,800/mo, month to month (market about $6,500–$7,000/mo)

Taco truck rent

$1,700/mo

Effective rent

$3,300/mo now; about $1,100–$1,600/mo if the repair shop is re-let at market

Store sales

About $28,000–$30,000/mo at 35% retained

Security deposit

3 months' rent, refundable

BP gas deposit

$40,000, refundable

Transfer / assignment fee

$30,000

Canopy

None; a new canopy costs about $80,000–$90,000

Possible parking income

About $6,000/mo (150+ cars)

Figures are provided by the seller and have not been independently verified. Buyers should perform their own due diligence.