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Jan 11, 2019 — Asking price is $2.6M + inventory.
Here is a breakdown of rent collected.
$2.500 Bakery Space
$7.500 NNN C-store
$800 Car wash
$1.500 Check Cashing.
If you were to buy and operate the gas station for $2.6 Million then a loan for 20% down payment, 25 year amortization, and 7% interest rate, generates a monthly loan payment of $14,700 plus $2,000 for property insurance and taxes. Your total payment is $16,700 of which you collect $6,300 from tenants.
You pay $10,400 from the C-store and gas profits. This could be easily achieved just from the COAM proceeds if run by the right operator.
The current operator is a Bangaledeshi doctor with no gas station experience. And does not have the right amount of inventory at the store. The gas station is currently doing $35,000 in inside sales, 17,000 gallons outside with 10 cents average margin. Lottery commission is $1,500. COAM is $1,800 one side (Operator is not working amiably with the local clientele); ATM: $350 and Air/Vac: $200 per month.
Current Operator is not doing justice to the location. This is perfect for an Owner/ Operator.
0.86 Acres. Built in 2006.
There is a jobber contract of rack+1 for 9 years remaining. COAM contract has 2 and a half years remaining.
Prime location and prime property in Metro Atlanta.
Here is an outline of the pictures.
0259 - 0269: Bakery Space
0270-0272 and 0280-0282 : C-store
0273-0279: Restaurant "Pupuseria Tacqueria" which is adjacent to the c-store (both businesses share a space and are not separated by a wall)