Unbranded Gas Station & C-Store, College Point
College Point, Queens County, NY
Key money$75,000
Photos & detailsExact location provided on inquiry.
About this opportunity
An unbranded gas station with a convenience store in a very busy area of College Point, available for lease. The repair shop is not included in the lease. With no supply agreement, you can buy fuel wherever you get the best price.
The lease is 10 years at $5,989 a month, and the rent already includes $2,100 a month in real estate taxes. To start, you pay a $11,978 refundable security deposit, the first month's rent of $5,989, and $75,000 in key money. The seller says the numbers would justify a $300,000 price, but wants a quick sale and is selling as-is, without records or financial documents.
The station is open Monday to Friday, 8 am to 8 pm, and closed on weekends by choice. It pumps about 750 gallons a day at a high margin of 93 cents a gallon. The store is used mostly as an office and sells about $7,000 to $8,000 a month. It has no ATM, beer or cigarettes, by choice. Opening 7 days a week, adding overnight card readers at the pumps and fully stocking the store (possibly $30,000 or more a month in sales) could raise income substantially.
The property is clear, with no liens or violations. All DEC and environmental records are in good order, and functionality tests pass. There are 2 steel tanks of 2,000 gallons each, both used for regular; there is no diesel, super or plus. The whole property is also for sale for $2,750,000, including the repair shop and a fully renovated house next door, which together bring in about $13,000 a month. The house, or part of it, can also be rented to the station tenant.
Highlights
- Low entry: $75,000 key money
- Unbranded, no supply agreement
- 93 cents a gallon margin on about 750 gallons a day
- Rent $5,989/mo including real estate taxes
- Open only 5 days a week now: room to grow
- Clear property: no liens or violations, DEC and environmental records good
- Whole property (station, repair shop and house) also for sale at $2,750,000
Financial details
- Key money
- $75,000
- Buy the property (station, repair shop & house)
- $2,750,000
- Real estate
- Included
- Fuel brand
- Unbranded
- Monthly rent
- $5,989
- Lease
- 10 years
- Rent includes
- Real estate taxes of $2,100/mo
- Security deposit
- $11,978, refundable
- First month's rent
- $5,989
- Fuel volume
- About 750 gal/day, 5 days a week
- Fuel margin
- 93 cents per gallon (about $698/day)
- Store sales
- About $7,000–$8,000/mo (no ATM, beer or cigarettes)
- Hours
- Mon–Fri 8am–8pm; closed weekends by choice
- Tanks
- 2 × 2,000 gal steel, both regular; no diesel, super or plus
- Property sale
- $2,750,000 with repair shop and renovated house (about $13,000/mo income)
- Repair shop
- Not included in the lease
| Item | Amount |
|---|---|
| Income | |
| GasAbout 750 gal/day at $0.93/gal, 5 days a week | $15,345 |
| Convenience storeAbout $7,000–$8,000/mo sales × 35% retained | $2,625 |
| Air pumps / vacuum / ATM / clothing bin | $1,010 |
| Total income | $18,980 |
| Expenses | |
| RentIncludes real estate taxes | $5,989 |
| ElectricSet amount; the repair shop tenant pays the electric bill | $200 |
| InsuranceOptional for your business; the landlord has his own | $0 |
| Garbage removal & internetProvided by the repair shop tenant | $0 |
| Payroll1 worker for full service and store, payroll tax included | $4,783 |
| Credit card fees | $568 |
| Sales taxInside sales | $435 |
| Total expenses | $11,975 |
| Net income | $7,005 |
Based on 5-day-a-week operation
Figures are provided by the seller and have not been independently verified. Buyers should perform their own due diligence.