Where can I find a gas station for sale as a broker?

[Michael Mun]

Hello, I am newbie broker. My dad and I want to purchase a gas station and I don't really work as a real estate agent. I just happened to get my RE license so I can sell my homes by myself through the MLS. I do have MLS access but the business opportunities provided over there do not have access to a lot of available gas stations. I am wondering if I need to get access to loopnet and if I do get access does that give me the ability to contact the listing broker so I can get the deal done with my dad myself. I've seen bizbuysell and other stuff on the internet but I'm not looking for something like redfin where it sends you the a buyer's agent if you have an inquiry. I want to work directly with the listing agent. Is loopnet the best place for this?

[Don Konipol]

First you must determine if you want to purchase the service station operating business and lease the real estate, purchase the real estate and be a landlord to the station operator, or purchase both the operating business and the real estate.

Many of the best locations are either owned by oil companies and leased to operators, or have restrictive contracts with severe penalties for changing gas suppliers.  Oil companies may also have a tie in with the equipment lease.

The absolute best situation is to own the real estate, own the operating business, own the equipment, and have no long term contract with any gasoline provider, in a heavily trafficed location with no direct competition, and a high volume dealership.  These types of opportunities sell for $3 - $5 million.  As you go down the scale of desirability, the price goes down, until you reach the small station, in a bad location, hard to get to, in a low income neighborhood, with environmental compliance issues.  These may sell for no more than back taxes.  Of course there is everything in between.