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Completely Renovated! Brand New Pumps and POS coming to Alab

Listing was updated on: 06/03/2019
Completely Renovated! Brand New Pumps and POS coming to Alab

Property Overview

Price/Rent PSF $ 1,000,000.00/4,000.00
Asset Type Retail
Trade Type Sale & Lease
SQ. FT. Available 1
Date Available 02/27/2019
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Description

Completely renovated from Ground-up! Landmark gas station for the past 60 years located off of US 29 in Alabama very close to the Georgia Border. One and a half hours from Atlanta. Branded gas station with Brand new pumps and POS on its way to being installed in the next couple weeks. Brand-new 40-ft Beer Cave. Beautiful interior. Brand new Hunt Brothers Pizza; equipment just arrived. Sales mentioned do not include Hunt Brothers revenue. All lights inside and outside were changed to LED. The Electric bill is reduced by $400-$500 per month. Buyer to reap the benefit of Seller’s Investment! Asking price is $1 Million plus inventory. Asking price includes the Gas station, 5-acre land with 2 existing Houses that are 3 bedroom, 2 1/2 bath each. One of the houses has a 4-car garage with a pool and a pool house. 2 acres of the 5 acres is zoned Commercial. Currently the 2 houses are rented, and the Seller is collecting a total of $2,500 rent from these 2 houses. Huge potential to add a large deli and keep store open longer hours. Currently the store is only open from 6am to 8pm and closed Sundays! There is no deli in a 3-mile radius of the store! Check cashing and Western Union are huge potentials as well. The store for the last 60 years has been a Full-Service Gas station. This is probably the only Full-Service Gas station in the entire State of Alabama! Gas Margins are really high at 24 cents a gallon. Seller has two employees that work shifts to fill up gas outside. These employees are like the restaurant servers where they make their money mainly from tips thereby not costing the Gas Station anything extra. The current inside sales are $35,000 but that is because the store was under renovation. Just finished the remodeling therefore the true sales of this store will be restored to its historical numbers and actually maybe even higher. The store will do over $60,000 in inside sales and 40,000 gallons. Current gallons are 20,000 a month. Even under the current low numbers the Property is being sold at a Cap Rate of 14%! There is a historic district with antique malls close by and the store is minutes away from the Langdale dam close to the Chattahoochee river. Georgia Pacific has a big manufacturing facility close-by. Substantial logging trucks require diesel in the area. The extra land can be used to build a truck stop for these logging trucks. Good Diesel demand. Seller is willing to sell the Business only for $200,000 plus inventory. Rent will be $4000 NNN with a lease for 15 years. If the Buyer buys the Business only, of course they will not receive the rent from the houses. The Landlord will collect the rent from the houses.

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