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Luk Oil Gas Station For Sale

8/wk
Morris County, New Jersey, United States
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Asking Price$75,000
Revenue$210,000 Established1970
Cash Flow$59,000 Employees2 full-time
FF&E$45,000* FranchiseNo
Inventory$25,000* RelocatableNo
Real EstateUndisclosed Home-basedNo
* Included in Asking Price
Solid business opportunity to own this active Luk Oil franchise fuel gas station on a busy highway in Passaic County, New Jersey. The business has a clean attractive image, consists of three bays, lots of storage and a modern office with a very low monthly rent of $800. The buyer can convert the office to a C-Store which has been preliminary approved. The sale also includes a large variety of equipment required for this auto repair business. The business presently has two employees that will remain with the business after the transition. This is a solid business and an excellent opportunity, a must to see to fully appreciate. Based on the asking price, required down payment and net income this business transaction should supply a 45% return to the owner operator prior to debt service. The seller will supply financing with a modest down payment to a qualified purchaser. This is an excellent business opportunity with substantial growth potential to the owner operator. The sale includes multiple auto lifts including various equipment required for this particular auto repair industry. This retail business requires a minimum of two employees, who are presently unaware of the pending sale and expected to remain post closing. This site has substantial private parking on the site and part of the lease. The business is operational seven days weekly with hours from 5:00 am to 9:00 pm. The business has a Certificate of Occupancy for this location to conduct business and requires franchise approval. The business has a long term commercial lease with a monthly rent of $1,200. Based on the asking price, required down payment and net income this business should supply a 25% return to the owner operator prior to debt service.The business gross yearly income is $210,000 and a yearly net income of $59,000.00. The asking price is $75,000 and seller financing is available to qualified buyers with a $35,000 down payment. This sale is confidential to employees and public, all viewings are by appointment only. Inventory is included in the price due to the franchise agreement.
Facilities:The facility consists of 1,900 square feet with 200 feet of highway. The business has three bays, two MPD’s, and a large canopy. The site has substantial private parking on the site as part of the lease agreement. This business is located on an active state highway in Northern Passaic County, New Jersey. The business has an excellent location and services numerous communities in the general area.
Competition:Based on the amount of drive by traffic and the urban population, this particular area has limited competitor’s gas stations in the general area. The seller has agreed to supply a long term non compete agreement to the new operator.
Growth Potential:With a marketing plan this fuel gas station can be further developed.
Training/Support:The seller will remain after closing and supply a two week transitional period.
Seller Financing:Seller financing is available w/ $35k down.
Sale Reason:The seller is retiring after many years of success in this industry.
Ad #77330
Seller Reference #GST213
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Contact This Seller
Ron Cervelli
Regal Consulting Corp.
973-837-0808
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