Conoco Gas Station & Auto Repair with Real Estate, Huntington Station

About this opportunity

A Conoco gas station with a snack shop and a 3-bay auto repair shop on very busy Route 110, across from the Walt Whitman Mall. The site fronts both Route 110 and Walt Whitman Road, just before the Northern State Parkway and LIE ramps. It can be delivered with or without a fuel supply contract.

There are two ways to buy. The real estate and the business together are $3,399,000. Or you can lease the business: rent is $15,000 a month, with a 2-month refundable security deposit ($30,000), a $30,000 refundable gas deposit and $550,000 in key money. Leases of 15, 20 or 25 years are available, depending on your plans.

The station pumps about 70,000 to 80,000 gallons a month at a high margin of 45 cents a gallon on regular, with higher margins on mid-grade, super and diesel. The pumps are new, and 3 tanks hold 12,000 gallons in total (regular, super and diesel). It is open 6 am to 10 pm, Monday to Sunday. The Town of Huntington requires all stations to be full serve; the snack shop attendant handles both, and full service draws more customers, especially in winter. The owner is absentee and the station mostly runs itself.

The repair shop tenant has no lease and pays $4,800 to $5,000 a month, month to month. He would like to stay, but would leave on 60 days' notice if you prefer. Potential, not current results: the seller estimates that converting the repair shop and snack shop into a large c-store or smoke shop could bring in a minimum of about $60,000 to $100,000 or more. Selling gas at more standard margins (closer to half the current margin) could bring volume close to 140,000 gallons a month, and with a large new c-store, with or without a franchise food counter, about 200,000 gallons a month. Brokers are welcome.

Highlights

• Real estate + business $3,399,000, or lease with $550,000 key money
• On Route 110 across from the Walt Whitman Mall, near Northern State and LIE ramps
• About 70,000–80,000 gal/mo at a 45¢/gal margin on regular
• New pumps; 12,000 gallons across 3 tanks (regular, super, diesel)
• Repair shop tenant pays $4,800–$5,000/mo, month to month
• With or without a supply contract; 15, 20 or 25-year leases
• Full serve, open 6 am–10 pm every day

Financial details

Asking price

$3,399,000

Lease option (key money)

$550,000

Real estate

Included

Fuel volume

70,000 gal/mo

Fuel brand

Conoco

Lease

Lease option: 15, 20 or 25 years

Fuel volume

About 70,000–80,000 gal/mo

Fuel margin

45¢/gal regular; higher on mid-grade, super and diesel

Tanks

3 tanks, 12,000 gal total (regular, super, diesel)

Pumps

New

Supply contract

Can be delivered with or without one

Repair shop tenant

$4,800–$5,000/mo, month to month; would vacate on 60 days' notice

Hours

6am–10pm, Mon–Sun

Full serve

Required by the Town of Huntington

Lease option rent

$15,000/mo

Lease option security deposit

2 months ($30,000), refundable

Lease option gas deposit

$30,000, refundable

Lease option key money

$550,000

Potential (seller estimate)

About $60,000–$100,000+ with the repair and snack shops converted to a large c-store or smoke shop

Potential volume (seller estimate)

About 140,000 gal/mo at standard margins; about 200,000 gal/mo with a large new c-store

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