Listed by Charles Rutenberg Realty Inc Plainview
$3,250,000
Conoco Gas/Snack shop/Auto Repair/in AMAZING location BUSY!!
Details
Property Type Retail, Land
Sub Type Convenience Store, Auto Shop
Units 15
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Remaining Term 18
Pro-Forma Cap Rate 6.00%
Class A
Year Built 1990
Year Renovated 2016
Buildings 1
Acreage 12,000 - 15,000
Zoning Commercial
Parking Spaces 15 spaces
Tenant Credit Credit Rated
Ground Lease No
Conoco Gas/Auto Repair/C-Store in SUPER HOT Loc. non-stop traffic in Suffolk Long Island NY!!!
Marketing description
- Location Location Location!! This conoco Gas station with snack shop and 3 bay auto repair shop is located on the super busy route 110 across from the Walt Whitman Mall! Also it sits on both route 110 AND Walt Whitman Rd strategically! This station can be delivered with or without a supply contract and can be given a 15 year-20 year or even 25 year lease based on what you plan to do.
- The repair shop tenant does not have a lease and is month to month and although he would love nothing more then to stay he would vacate with 60 days notice if that is your preference! (Currently paying $4800-$5000 a month rent) Convert this repair shop and snack shop into a huge C-store and/or smoke shop and this station will be unstoppable in this well to do area and prime real estate. Potentially easily minimum 60k min to 100,000+\- A very realistic target as this powerhouse location is also right before the Northern state and LIE entrance and exit ramps.
- At first owner did not want to sell the real estate and only wanted to rent but now it can be bought as a sale or rented just for the business. If bought with real estate and business ALL- Asking 3.399 mil
- If to be rented or as a lease then:
- 15k a month
- 2 months refundable security deposit or 30k
- 15-20-25 year leases available
- refundable gas deposit of 30k
- Key money $550,000
- Tanks are all double walled fiberglass state of the art technology. Pumps are new. $12,000 gallons capacity between 3 tanks - Regular- super and diesel
- Current hours of station 6 am- 10 pm
- Mon- Sun
- As per town of huntington- all stations within town must be full serve which works well currently with snack shop attendent managing both efficiently. This full service requirement draws many more customers
- especially in winter months.
- station currently doing approx 70k-80k gallons at HIGH margin 45 cents/gallon of regular with middle grade- super grade and diesel being obviously even higher margins.
- If current owner who is a complete absentee owner with the station pretty much running on “auto pilot” chose to sell gas at
- more “common”, “normal or standard” margins closer to even half of what it currently is, this station could easily do closer to a little less than double the volume at 140,000 gallons a month give or take. Current owner doesn’t really benefit so much by selling at much lower margins because he doesn’t have a sizable c-store which he’s trying to flood people into. In fact, if he’s making the same profit by doing less gallons and traffic then hes also not having to hire a second attendent. But of course if the repair shop is converted then the new cstore sales would justify more volume less margin on gas model. Convert the repair shop to a new huge c-store with or without a franchise food grab and you can bring in close to approximately 200,000 gallons a month!!
- And as always- BROKERS are welcomed!!
- For more info pls call 917-855-0187
- Khaleeque Rehman
Investment highlights
Right across from Walt Whitman Mall located in an affluent area with a super strong retail shopping corridor throughout!
This land is worth Big $$$ just based on its location and strategic cut on route 110 AND Walt whitman road! You can access this Gas station from almost 270 degrees!! Entrance and Exit points are crucial to the success of a gas station and this one has MANY!
Great Exposure throughout!
Listing Contacts
Listed by Charles Rutenberg Realty Inc Plainview
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Zoning
C-8 CommercialGeneral CommercialGeneral Business A District
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