Business Summary:
This Marathon Gas Station and Convenience Store is located at a busy intersection on Grand Rapids’ near south side, just 1/8 mile off the major north-south highway. The business, with a beer/wine license has operated successfully at the same location for over 25 years.
Under the current ownership for four years, one of the two business partners has left the area and this successful business is being sold by the local partner to dissolve the partnership. In the four years the current owners have had the station, all new pumps have been installed, and a full environmental was done with the property receiving a “clean bill of health.” This summer the east-west thoroughfare on which the business is located is being both widened and repaved insuring that the new owner will be buying a business on a “brand new street.”
The station has a five year contract with Marathon and pumps over 2200 gallons annually. The convenience store generates $1.0 million in revenues which does not include $155,000 of annual lotto and lottery ticket sales.
The business has a consistent cash flow approaching $200,000 with very limited involvement from the local partner. The sellers, who have listed the business and property for $2.15 million, will consider carrying a meaningful seller note for a qualified buyer. The real estate valued at $1.4MM is included in the sale price. For more information about this established, cash flowing, branded business, please call Ken George (616-648-1132).
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