Seller relocating from this successful Luk Oil Gasoline Station with an active Convenience Store, Lotto and two bay garage. The business is located in Passaic County, Northern New Jersey on an active county road with a high volume of drive by traffic. The business income consists of fuel sales, a busy C-Store, Lotto and auto repairs. The seller is retiring from the industry after many successful years and will train a new operator post closing. Franchise approval is required prior to closing. This is a wonderful business and excellent opportunity to enter the profitable auto industry. The sale includes a fully equipped C-store with refrigeration & freezer units, displays POS system, etc. The two bay garages consists of a computer system, two lifts, high end specialized equipment with a value of $125,000. The fuel station has two islands, four pumps with a full canopy and four 6,000 tanks. The site has substantial private parking for fifteen vehicles at the location. The Gas Station C-Store is active seven days with hours from 5:00 am to 11:00 pm. The business is Lotto approved and has a municipal CO to conduct this business. The business has a franchise agreement for this location at a monthly total rent of $8,700, lease expires 2018/01/01 plus options, rent security $10,000. The employees consist of one mechanic; two fuel attendants and none are aware of the pending sale and are expected to remain post closing monthly payroll is $5,500. Based on purchase price and required down payment the buyer will obtain a forty percent (33%) return on investment. Please call for additional information. The business income consists of gross sales of 600,000 gallons of gas yearly at $.14.5 per gallon. The C-Store produces $90,000 yearly and the repair bays gross yearly income is $360,000. The business can evidence an average yearly net income of $110,000. The price is based on a multiple of the net yearly income and assets, $250,000 plus inventory dollar for dollar. By appointment only, employees are not aware of the pending sale and the enclosed photo may not represent the particular business.
Asking Price $250,000
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