Looking For A Gas Station For Investment
Hi there,
I am looking for a gas station for sale in the MD,DC, VA area or even PA. Up to 1million. Would be nice if included Real Estate as well.
What should I look for? My first time investing in gas stations.
your advise would be appreciated.
Thanx
Don't know what questions you need to ask, or what not, but check out this website... And, nope, I don't got anything for sale there....
http://www.bizbuysell.com/
If the real estate is included make sure you do a Phase I environmental assessment as part of your due dilligence. Gas Stations are notorious for environmental problems.
Just a word of advice...we and other lenders sometimes shy away from lending on gas stations simply because of the environmental impact they can have, and thus the liabilities associated with that. Keep that in mind as you move forward..they may not be the easiest to secure financing for.
[addsig]
If you're interested in moving beyond your stated range of investment territory, I have several C-stores/gas stations listed in the "my properties" commercial area. Complete with owner financing. To be sold as a package or separately.
Are you thinking about a NNN lease?
Regarding "...it looks like the firm puts up bogus information on the loan documents..." this is loan fraud and this can indeed get you in trouble. If you have doubts, contact the attorney general in your state and get their opinion.
Thank you.
I used FOIA to pull copies of the most recent permits from the IL DOT. Both permits are from 1984 (state). One has a local permit from 2004 to update the foundation (which they did and were inspected for).
There are a few national highway laws and the IL law from 2005 that regulate outdoor advertising in addition to any and all local laws. I just did not want to read up everything and thought an attorney who knows this could be a shortcut.
I saw you had a lease planned as well.
Was your interaction with the outdoor advertisers successful? Can you share any numbers?
Thanks again.
Thanks for the info
I thought the lease would terminate since this was a tax deed (may be I did not mention that).
Unless they had an easement, the lessee would not have any recourse.
Yes, it is a very fragmented market due to changing signal technologies, frequencies, regulations, network layouts and bandwidth demand (voice, 3G, 3G+, 4G, ..).
I will report what I can get for it.