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The store has 2, 700 sq/ft on top of 0, 44 ac Land. I'm looking at a small commercial building that sits on what used to be an old gas station. Please ensure that you have the agreement inspected and obtain appropriate legal advice before signing. Exceptional business... $1, 950, 000. Over 200, 000 population in a 5-mile radius. One thing they do not want to do is sell it without cleaning it up first, and that is, again, because the CSR does not allow for the "persons responsible" for the contamination to sell that liability. Peter Siegel, MBA with BizBen explores this industry. Cleaning it up can mean a lot of things. Chuck Post hosts these live FREE online webinars on Buying A Card or Coin Laundry. At Point to Point Environmental, we can inspect former service stations and provide you with the compliance and environmental information you need to effectively and efficiently buy or sell former service station properties. Would You Buy a House Built over a Former Gas Station Site. Above ground Kerosene tank available. Entrepreneurs in other cities have done it. Estimated franchisee fee $275K. This actually makes sense.
Peter Siegel, MBA and Founder of and BizBen's Top Advisor for the BizBen ProBuy and ProSell Programs discusses this topic of buying CA gas stations. On Larch in Downtown Lansing. However, only an up to date environmental engineer can tell you whether or not the site has been remediated to the standard required by the Ministry of the Environment in the moment. In 1980, congress passed the Comprehensive Environmental Response, Compensation, and Liability Act—otherwise known as CERCLA or Superfund. Subsurface contamination may result from current or past releases of gasoline or petroleum products from storage tank systems, hydraulic lifts, car washes, service bays, etc. The most logical choice — source removal — includes removing the leaking tank and soil saturated with petroleum. It is at least theoretically possible for the Director of Waste Management (the senior bureaucrat in the Land Remediation Section of the Ministry) to order an owner to clean up contamination, but that power is very, very rarely exercised. How to buy an old gas station. Your lawyer and your environmental engineer for a relatively modest investment can assist you in determining whether or not you may be buying a serious financial problem. Manassas, VA. Landlord offering a Great Business Opportunity, Gas Station, Convenience Store. The concrete cracked, brush growing out of the pavement, the windows busted in — it's an abandoned gas station.
In at least two of the three locations that I have dealt with, the reports had information relating to remediation at the sites. I have a lot of experience too, gained the last 30 years of working on these types of projects, to know what the factors that influence the approach should be. Ft. located in a popular area of Baltimore County. Among them is a high-profile site on Edmonton's Whyte Avenue – a major entertainment and retail hub – vacant since 1998. Buying a gas station business. "Any time you add green space to an urban environment, it's pleasant, " Hooper says. The store used to be a 7 Eleven franchise but the current seller spent almost $300, 000 to terminate the 7 Eleven franchise and buy new equipment.
This is a very high volume Sunoco gas station in West Melbourne which is only a 1 hour drive from Orlando. Should the owner be expected to take back a note for the value of the inventory? Buying old gas station property tax. Whatever the use, something needs to be done with these eyesores, especially the ones in highly visible areas, like the one next to the Stadium District. Upgrade requirements may include tanks, spill containment devices, tank monitoring equipment, testing, registration, and operator training.
A locked up Shell station at Cedar & Mt Hope. Laundromats and coin operated Laundromats are popular choices among business buyers as they often can be successfully run as an absentee run business. Margins on regular gas are 10 to 20 cents; Midgrade gas is always 30 cents, premium 35 cents, and diesel 40 cents. I discuss all these factors. Keep in mind, however, that this type of remediation includes not only the estimated cost to perform the remediation, but also additional costs for the risks that the contractor is assuming when it provides a guaranteed fixed price. Please call Nancy Seth - Cell #909-967-3050 (anytime)... Before You Buy A Gas Station Ask These 5 Questions | BizBen.com. Less. The EPA and Michigan Department of Licensing and Regulatory Affairs (LARA) recently updated the regulations related to sumps and spill buckets, beginning in 2018 requiring testing to prove they are liquid tight. Entrepreneurs who think they want to buy a towing business need to have some idea of what to look for when examining businesses for sale in this industry. Branded convenience store with Gas and deli 725961-AS. As the industrial real estate market continues to boom in New Jersey, the availability of large tracts of land on which to build industrial buildings, including large warehouse buildings in advantageous locations, appears to be shrinking. Gas stations also tend to be built on smaller lots that can't host a larger redevelopment project, like a high density building or parking space, limiting the uses that can be placed on them. I THINK that the underground fuel tanks have been removed, but that's not verified.
Tint World® Automotive Styling Centers™ is America's largest and fastest growing... $120, 000. On occasion, old unreliable flexible piping is discovered, which differs from the LARA records. Double Walled Tanks and Double Walled Piping. Thinking of buying an old gas station. Many gas stations have existing UST systems that are different ages and have different construction materials. What Environmental Issues Might Lurk Underground? If gas has leaked from tanks, buyers should ask for and review all subsequent required reports and government communications. Some courts have found cleanup guidance for interpreting such lease terms in federal cleanup provisions, but there can be difficulty in establishing the condition of the leased property when first occupied, especially if a significant number of years have passed. These companies have a lot of assets, and are in no big rush to divest themselves of fiddly little assets like a block of City land.
Modifying Lease Terms. A trusted name in the auto repair industry for over 40 years, Christian Brothers... $85, 000. Developers can also get state and federal money to redevelop these sites, which helps defray some of the cost. With the seller retiring, this business is now available for the right buyer. "…willingness to loan would be based on if the contamination had been cleaned and certified as such, or the credit history of the borrower was strong. Local governments and county land banks can apply and receive up to $500, 000 for cleanup and remediation of former gas stations. A Phase II ESA provides a more detailed analysis of site conditions, the cleanup required per industry standards, and any follow-up monitoring of the site post-cleanup.
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