Northern Michigan Gas Station and General Store

Undisclosed Address, Michigan
Business Opportunity for Sale
Catylist Listing ID: 30725442
Property Subtypes: Auto Related
Building Size (RSF): See Agent
Sale Price: $3,250,000 - 3,500,000
Gross Revenue: $5,640,000 (Annual)
Cash Flow: $583,000 (Annual)
Last Updated: 7/26/2021

Overview / Comments

Business Summary

This highly profitable full-service independent gas station and C-store is located outside of a metropolitan northern Michigan community. They offer fuel, beer, wine, liquor, deli, groceries, and lottery and had phenomenal results in 2020. Over the years the site was expanded and the building renovated, and more recently the pumps and dispensers have been upgraded. The store’s annual sales have grown considerably and are consistently around the $6,000,000 level. Situated along a well-traveled north-south state highway, the store has over 6,500 cars per day passing by the location.

Details

2020 Revenue: $5,640,000
2020 SDE: $583,000
2020 Fuel Sales: 1,426,000 gallons
Inventory: $146,000
Employees: 6 full and 3 part-time plus the owner

Real Estate: 3,200 square feet of retail space on 0.7 acres
Investment Highlights:·
Accelerating C-store margins· *** No existing fuel supply agreement ***·
New diesel generator with full-store coverage ($50k investment)·
New roof, pumps, dispensers, and coolers·
Turnkey operation – long term manager willing to stay after the sale

Growth Opportunities:· Enter supply agreement with a national fuel supplier· Add more groceries

Support & Training: The owner is willing to assist the new buyer

Reason for Selling: Retirement

The photo shown is a stock photo, it is not an actual photo.

Additional Details

Industry Segment: Gas Station
Value of Inventory Included ($): $0
Value of Furniture, Fixtures, and Equipment ($): $0
Value of Real Estate Included ($): $0
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