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Asking Price:	$289,000 USD USA Dollars
Business for Sale Industry:	Auto & Mech: Services & Gas Stations
Reason for Selling:	Seller is retiring
Year Established:	2000
# of Employees:	5 full time / 3 part time
Yearly Revenues:	$4,386,000
Yearly Cash Flow:	$131,000

Business for Sale Overview:

Located in Elizabeth City, North Carolina. CITGO branded gas station & convenience store boasts in an excellent location in a terrific neighborhood. The site is strategically located on a busy four-lane highway near several activity centers. It resides directly between a Burger King and McDonald’s with access from the McDonald’s parking lot. The store is also located directly in front of a Food Lion anchored shopping center. Albemarle Hospital and the College of the Albemarle are both located within 0.5 mile of the property. A 75,000 square feet shared YMCA/College of the Albemarle is located within walking distance. A new 1,000 student high school recently opened near the site. Attractive and spacious 2,800 square feet free standing building on 1.116 acres with 226 feet of frontage on the main highway. A nearly new 4,100 feets canopy covers 5 MPD’s that provide 10 fueling stations, kerosene and car diesel are offered, 19 lined parking spaces, nearly new canopy, two 10,000 gallon tanks, one 12,000 gallon tank and one 2,000 gallon tank. Underground tanks and piping are double wall fiberglass. Inventory including fuel not included in sale price and will be determined at time of sale (estimated to be $100,000). Plenty of room for expansion on property. 2007 Yearly numbers: Gas: 1,209,779 gallons; Inside Sales: $1,075,537; Lotto: $215,000; ATM: $7,000.

Property Features and Assets:

Clean and bright eight-year-old 2,800 square feet facility on over an acre of property. Plenty of room for expansion. Property being sold separately through Sunbelt Commercial Properties Inc. and must be sold simultaneously with business transaction. Property is offered at $1,050,000.

Market Competition and Expansion:

The store is one of the newest and most attractive operations in Elizabeth City and provides more convenience floor space and parking space than its competitors. The Seller has taken pride in the appearance of the store and has placed a great emphasis on maintaining the property and equipment. Growth/Expansion: Opportunities to increase sales include: 1) offering a more upscale coffee selection, 2) install a food franchise that differentiates itself from, but capitalizes on the business of, McDonald’s and Burger King. 3) partner with local sources of merchandise to better utilize available floor-space.

Additional Details:

• The property is owned.
• The owner is willing to train/assist the new owner.
• The owner is not willing to work for the new owner.
• This is not a homebased business opportunity.
• This is not a franchise resale opportunity.
• This is not a distressed business or bankruptcy situation.