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    1 Reply Latest reply on Jun 27, 2008 8:07 AM by Adducent

    40% LTV for business+land purchase

    Canery Newbie

       

      Convenience Store w/gas and Liquor Store - $2,000,000

       


      This high volume gas station also comes with a liquor store next door. This is two businesses in one; equipment, building, and land. There is over $170,000 in equipment. There is one 12,000 gallon tank, one 8,000 gallon tank, and a beautiful canopy. There are two credit card readers (four cars can fill up) that are owned and maintained by the gas supplier. The 6,387 sq. ft. building sits on .91 acre. The gas/c-store is 4,867 sq. feet and the liquor store is 1520 sq. feet. Most compressors and HVAC units have been replaced. The building is brick and was totally renovated 12 years ago. There are 18 employees and a yearly payroll of $250,000. The owner does not work at the store. There are three employees with over 10 years experience each. This store is located on a heavily traveled road and there is a high traffic marina less than one mile from the store. This store is located in a very safe area and is open from 6AM until 10PM. This store pumps over 65,000 gallons a month with a profit margin of 10.5 cents per gallon. C-store sales were $1,533,000. Liquor store sales were $742,530. Lottery sales were $176,600. Gas gallons were 797,000. The customer count is over 1100 customers per day.

       


      I am looking for $800,000 (1st position) to cover down payment and acquisition costs. Preferred terms would be 180 month payment schedule @ 12%, 18 to 24 month balloon. No additional funding will be needed. Asset-based or silent partner.