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Why Purchasing a Property Poses an Environmental Risk. The owners are vegeterian so they do not operate food services. More so, the contamination issue was dealt with on a case by case basis with nominal effect on lending rates as long as the site has been remediated or is being remediated by credit rated responsible party such as a Major Oil Company. If a property includes a gasoline retail tenant, due diligence should focus on the following environmental questions: - Were gas leaks encountered at the site when the tenant upgraded to meet the 1998 standards? One of the most important steps in buying a business is doing your due diligence. Redevelopment had its challenges. What’s with abandoned Gas Stations? Part 1 –. VP alone nets $70, 000-$75, 000 a year. A significant amount of older USTs have leaked with many sites under remediation or "clean" but subject to market perceived stigma. "If the remediation is completed, then it wouldn't affect the rate.
Our gas station is now available for purchase at a price of $99, 900, with the added cost of inventory to be determined. Exceptional business... $1, 950, 000. Buying old gas station property for sale in connecticut. Beautiful Gas station, large 4, 809 SF C-store with Deli space, doing over $40K inside sales with other income of $20, 700K per month. Sunoco Branded site in Amelia County on a major intersection on Hwy 360 in a high... In many instances, a Phase II ESA to drill soil borings is completed to collect soil, water, and vapor samples to assess the environmental risk.
Approx $11, 000 Value! 9 mins from High School with over 1, 250 students! Also, it is important to conduct the usual due diligence checklists before you buy gas stations in addition to these five industry specific questions. Some simply breaks down chemically in to less harmful compounds, while some gets eaten up by natural hydrocarbon-metabolizing bacteria. The developer also claims he installed a "vapor barrier. " A new owner can increase revenue by extending hours of operation if they would like. Before You Buy A Gas Station Ask These 5 Questions | BizBen.com. It was cheaper to let it happen than to dig the tanks up and replace them. Contamination is somewhat commonplace in gas station properties, especially for older properties built prior to the EPA 1998 mandate that required all single wall underground storage tanks (USTs) be replaced with double wall fiberglass tanks (refer to Title 40 Code of Federal Regulations (CFR) Part 280, "Technical Standards and Corrective Action Requirements for Owners and Operators of Underground Storage Tanks"). Thinking outside the tanks. As the year winds down, it's tempting for business brokers to go through their old files and throw them out to make room for new client's folders, but that would be foolish. In 1980, congress passed the Comprehensive Environmental Response, Compensation, and Liability Act—otherwise known as CERCLA or Superfund. Now this ol gal needs some TLC.
All this with reasonable rent.... Less. "Generally speaking, a coffee shop would be an easy way to reuse one of the sites. Surveyed buyers of gas stations for continued gas station use do not support a discount for contamination or stigma, unless the responsible party is not a Major Oil Company or the ongoing remediation somehow increases their cost of capital or impairs the utility of the site. Unbranded C-Store with Gas in Giles County, VA - 141921 AS. High Traffic Strategic Location Gas Station/C-Store-127815-CD. The AAI Rule provides an escape from liability called the "innocent landowner defense, " but this defense can only be used to escape liability if "appropriate due diligence" was conducted prior to the acquisition of the property. Another thing to take into consideration when planning UST system upgrades is whether the entire system will be done at once or over time. This is a very high volume Sunoco gas station in West Melbourne which is only a 1 hour drive from Orlando. Documented industry standards exist for evaluating the potential for a subsurface environmental condition to exist through non-intrusive means (ASTM E1527), and for confirming if a suspected condition exists using intrusive investigation techniques (ASTM E1903). Gas Station Purchase - Environmental Due Diligence Factors. To avoid this, landlords can require the tenant to annually certify its compliance with the lease covenants. The possibilities are endless for these sites; we just need one person with a big idea who's ready to take on the challenge. Lots of opportunities to increase the nthly IncomeGas Volum: 18, 000 with 35 cents/per Rack +2Store Sales: $33, 400 33% GPLottery: $3, 600Rental income:$2, 200Other:$950Rent:$4250If you're an entrepreneur interested in buying or selling a business, you've come to the right place. Through CERCLA, the Environmental Protection Agency (EPA) was granted power to seek out those parties responsible for any release of contaminants and assure their "cooperation" in the cleanup. Many have tried, but with poor results and little to no correlation of data.
She and colleagues from the school surveyed empty lots in Calgary's middle ring in 2011. If ongoing monitoring was only thing left, we might charge an extra half point as we would also need to continue monitoring to make sure nothing else went on. We thought we'd jump start the conversation with a few ideas. Buying old gas station property for sale in pa. In this request, landlords should ask for a copy of the tenant's current tank registration, proof of financial responsibility to address releases as required by state regulation, six months of monthly leak detection results, the results of any equipment integrity tests results during the past 12 months, and any communications from government authorities pertaining to the facility's tank systems. Buyer to verify• Car Wash Business only; also available For Sale $690, 000 with 30 years lease• Rare opportunity to own Car Wash Business, with Real Estate + Rental income from the Auto Center • High Traffic, over 30, 800 CPD Harbor Blvd and W 19th St. • Near Orange County's major intersection, Triangle Square, Downtown and at 55 Fwy• Densely populated area, over 365, 000 population within 5 miles radius• Great opportunity for owner operator to run the car wash and collect rental income... Less.
Excellent opportunity to acquire a local iconic gas station, deli & grocery store... $900, 000. Buying old gas station property for sale in ct. Gas stations may present underground environmental problems. Operates like a strip mall with multiple businesses including Hand Car Wash (this is the only hand car wash in area and comprises of a steady set of clients from the affluent neighborhood), International Franchise Restaurant, one of area's largest gas station and convenience store (close to 10, 000 sqft), Full Service Detail center with separate area for RV & Boat Detailing, Liquor Shop etc. Rare opportunities to own a state-of-the-art, country-style, branded gas station, with a national franchise QSRs and full liquor convenience store in a highly... $1, 400, 000.
1 Year VA residency required to get Beer and Cig rrent 7-11 franchisee or 7-11 Approved to get more Inquire if you Current 7-11 franchisee or 7-11... Less. "Typically, they would have underground parking enabling excavation of the contaminated soil with residential above the commercial, which means you can apply commercial standards to remediation, " he says, adding residential-only developments have higher standards and, in turn, costs. These agreements are transferable to new buyers. Both stores are 3 hours apart! However, if you meant to say just that there was contamination in the past that was now cleaned up, it would probably not impact the rate. At one time, he says, gas stations were key fixtures at major intersections in older suburbs. A second factor is that there are far fewer gas stations today than there were 40 years ago. Sometimes, you just go in there with an excavator and dig out all of the contaminated soil and throw some ORC in the hole to cause hydrocarbon-eating bacteria to bloom in the groundwater.
This is the opportunity to become involved in the local Telluride community as the store is well known and has a very positive image. If the underground storage tanks or storage tank systems aren't fit for use for any reason, or if you wish to use the land for another purpose, further steps should be considered in order to secure the property and make it environmentally sound once again. "We replaced a convenience store that was boarded up – a former gas station – and redeveloped it so that, environmentally, it's acceptable, " Mr. "And I think we've added an interesting presence to the community. No more 24 hours, no more franchise fees, keep all your gas profit, control your own gas prices, nobody tells you what to do! Location, Location, Location Profitable Gas Station + Convenient Store/ Food Mart +... $500, 000. I have seen a number of these agreements and the schedule terms, which are generally not negotiable as far as the gas company is concern, are frankly quite frightening in most cases. Buyers also should examine the previous six months' leak detection test results along with equipment- integrity test results. Inside sales for the business are projected to be in the range of $60, 000 to $70, 000, with gas sales estimated at 10, 000 to 15, 000 gallons per year. Profitable Branded Truck Fueling with C-Store w/RE-948148-AS.
It is a family operator. I am an experienced entrepreneur, attorney, & business professor. 8 Gas pumps, with 4, 809 sf of large C-stoe with Deli only $l00K. Williamsburg County, VA. With annual sales projected to $$1, 525, 000 includes (Gasoline + Inside Merchandise) Business Highlights: - • The owner makes $12, 000 per month ($400/per day Gas... $240, 000.