Wholesaling a Gas Station...
Hey everyone,
Not sure if you have heard of this being done before, I have. I had a possible oppertunity to do the same. However I am not sure how wholesaling a gas station would be different than a house, besides the obvious fact that it is considered commercial.
The reason I am trying this is because I have connections with a guy I go to church with. He works directly under the CEO of a big company out here in CT, a line of Gas stations and minimarts that from what I understand are doing very well. I figured if I found some shutdown and abandoned gas stations, I might be able to get one under contract and sell it to this company.
I know of one place already that I have been trying to get a hold of, it's a shutdown sunoco gas station that actually wasn't in the market for too long. I was going to call and make some offers because I figured that if Sunoco is holding onto this property for any amount of time, it would turn into a liability instead of an asset, and hopefully turn them into motivated sellers.
Is there anything I should know before trying to negotiate a price with them. I mean, does the usual wholesale formula apply to this type of commercial property?