Active Luk Oil Gas Station
Location New Jersey,United States
Asking Price Range < $250K
Gross Revenues $210000
Net Profit / Cash Flow $55000
Cash Flow Type EBITDA
Seller Finance Yes
Year Established 1970
Number of Employees 1 - 3
Inventory 45000 Equipment Only
Relocatable No
Number of Employees 1 - 3
Real Estate Leased
Training The seller will remain after closing and supply a two week transitional period.
Reason for Sale The seller is retiring after many years of success in this industry.
Description Excellent opportunity to own this active Luk Oil franchise fuel gas station on busy highway Route 23 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 $800. 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.
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