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Jun 28, 2018Wonderful business opportunity to own a highly successful independent self-service gasoline station with Convenience Store and real estate. These 13 gas stations that can be purchased as a package, or individually. The owners represent a corporate group, out of state company, has elected to market multiple fuel stations in North & South Carolina, due to their absenteeism. The various fuel stations have substantial gross sales and consistent high net yearly incomes to the owner operator. These businesses have fuel sales of approximately 9,800,000 gallons yearly, including high volume retail convenience store & Lottery sales. This sale has been preliminarily approved for bank financing with the appropriate down payment. Based on a 25-year payout at 5% interest, 20% down payment purchaser would obtain a consistent net yearly income return on investment after debt service. This industry does not require any government agency approval to purchase, other than the standard municipal licenses to maintain a day to day operation. The majority of the businesses are located near interstate highways in North & South Carolina which attract a large customer base of clients. The facilities are fully upgraded and modernized with a canopy, convenience store and some have car wash service, etc. The businesses also have additional incomes such as Lotto, ATM, etc. Each of the fuel stations have an average of four employees who are all unaware of the pending sale and fully expected to remain post-closing. Monthly payroll is based on hourly wages and differ for each location. The business sites which have been upgraded consists of a large pad and a 1,600-square foot modern interior facility. The sale includes 13 business operations, all of which include equipment and real estate, a fully equipped retail store, some locations have car wash, multiple upgraded fuel tanks, gas pumps, refrigeration & freezer units, POS system, displays, shelving, tables, computers, including all the necessary equipment to maintain the day to day business operation. The facilities have substantial private parking on site. The businesses are active seven days per week, with hours from 6:00 am to 12:00 am. The sale includes a certificate of occupancy from the municipality including the required food license and approval for Lotto, etc. There is an existing fuel contract expiring in May 2020 at a very competitive pool margin. Upon expiration, the new operator has the availability of obtaining a new fuel contract or maintain the business independently. The corporate owner will remain post-closing in order to supply an appropriate transitional period. The purpose of this transaction is due to out of state absentee corporate owners. Due to the corporate ownership, each location is presently maintained with a site manager, however with on-site ownership and a marketing plan for additional corporate fuel accounts further growth is highly possible. To the best of our knowledge no other new competitors are expected near to this business and the owner has agreed to supply a long term non-compete agreement to the purchaser. Regarding the package sale (13 gas stations), in 2017 the total gross yearly sales were $11,423,521 and the yearly net income for 2017 was $3,162,859. This package sale opportunity, which represents the gas station businesses, assets and real estate, has been valued at a multiple of seven (7) times EBITDA, bank and seller financing is available to a qualified buyer.

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