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Gas station and retail convenience store located in Central New Jersey consisting of a 2,100 square foot facility with a 2017 yearly gross sale from the C Store of $1,409,000. The business also has a yearly net income from Gas Sales of $32,277, Lotto commission of $12,000, rebates of $10,000 and more. The business obtains $.08 cpg net to operator for all gas sales. All gas credit card fees and gas sales tax are paid by the fuel distributor. The retail store has a consistent yearly gross income with an average 30% gross profit. The business also has 5%, ATM approximately $830 per month net, and Air/Vac approximately $150 per month net. The business has limited competition and is close to the ferry station to NYC, a marina and a residential neighborhood. This company has five full / part time employees who are unaware of the pending sale, fully expected to remain post-closing, and the monthly payroll expense is approximately $8,100. The business has an assignable commercial lease which expires 2023-01-01, plus additional options, with a monthly rent of $10,902, all in, cost per square foot is estimated at 18.80 and rent security of approximately $10,000 and $40,000 fuel deposit. This successful gas station/c-store business operation is active seven days per week, with hours from 5:00 am to 11:00 pm. The 2017 yearly gross income is $1,409,000 and the business has a yearly net income of approximately $144,000 based on an onsite owner operator and prior to any debt service. January-August 31, 2018 Gross Income $1,066,663 and Net Income $146,262. The business has been valued / priced at $329,000 based on a multiple of the net yearly income which includes the value of the specific business assets. Also, seller / bank financing has been conditionally approved to a qualified buyer with an appropriate down payment, collateral and credit rating. $25,000 franchise transfer fee is required and training. This is a dependable safe business opportunity and based on the asking price, required down payment and yearly net income, this business expects to supply a consistent return on investment to the owner operator. Please do not disturb business, this sale is confidential, the employees are Unaware of the pending sale, all viewings are by appointment only and photo does Not represent this business opportunity.
To the best of our knowledge, due to various circumstances, no other new competitors are expected near to this business. Additionally, the owner has agreed to supply an appropriate non-compete agreement to the purchaser.
The business can be further improved with corporate fuel accounts and an onsite owner operator to develop the gross sales.
The owner will remain post-closing and is prepared to supply an appropriate transitional period to the new owner / operator.
Is available to a qualified buyer with an appropriate down payment.
The sale is due to the owner continued absenteeism and alternative business.