Strip Mall and Gas Station with Rental Income For Sale!
Listing was updated at: 04/24/2019
Property Overview
Price/Rent PSF $ 2,600,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available 1
Date Available 01/10/2019
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Asking price is $2.6M + inventory. Here is a breakdown of rent collected. $2.500 Bakery Space $7.500 NNN C-store $1.500 Restaurant $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)