A high quality, well organized branded Gas Station and Convenience Store strategically located off a major artery exit in South Hampton Roads. The store provides over 5,000 square feet of leased space and incorporates a fresh pizza franchise with delivery and carry out as well as an ice cream parlor for its patrons.
The station is the only gas station in a 3 mile radius. In the next year, a major $500 million dollar commercial project will open nearby and provide additional traffic and business opportunities to the business. Sales have increased each year and in 2005 increased 10% in all segments of revenue.
Gasoline volume averages 80,000 gallons per month. The business has a strong supplier agreement in place. The supplier owns all the pumps and revenues on gas are split 50/50. All maintenance and equipment costs associated with the pumps are the responsibility of the supplier.
The convenience store has a fresh cooked Pizza franchise inside as well as lottery, tobacco, beer and wine and food provisions. A separate attached area has an ice cream parlor that opened in mid-2005 and has shown strong acceptance. There is an equally sized vacant space on opposite end of the building where additional retail expansion is possible. The business is open from 6am to 11pm 7 days a week.
Reason for sale is other business interests.
Purchase Price: $450,000
Annual revenues are divided as follows:
Gasoline Profits $59,000 = 5%
Pizza Sales $94,000 = 8%
C-Store Sales $760,000 = 60%
Lotto $308,000 = 24%
Ice Cream Parlor $21,000 (6 months) = 2%
Gross Revenues $1,245,786 = 100%
Cash Flow: $149,638
FF&E: $50,000 (included in asking price)
Inventory: $95,000 (included in asking price)
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