Las Vegas Gas Station + C-Store with Real Estate, Clark County NV

$1.1M

SDE

6.3x

Multiple

Subscribe Free

Read the full deal writeup

Get Free Access Access Unlimited Deals

Already a member? Sign in

Full Editorial Writeup

This is a Las Vegas gas station with an 8-pump fueling operation, an independent (non-franchised) convenience store, and the underlying commercial real estate, all bundled into a single $6.9M asking price. The property sits at a high-traffic Clark County intersection and generates income across three streams: fuel sales, in-store convenience retail, and rent from an adjacent on-site tenant. The convenience store carries no franchise affiliation, so a buyer controls merchandising, pricing, and vendor relationships without royalty drag.

The listing reports $1.1M in EBITDA against the $6.9M price, a 6.27x multiple that is only meaningful once you separate the operating business from the dirt. A large share of that price almost certainly reflects the real estate value rather than the fuel-and-store cash flow, which is the single biggest diligence question here. Gas stations are classic recession-resistant assets because people buy fuel and convenience items in any economy, but margins are thin and heavily dependent on fuel volume, inside-store mix, and rent quality.

Revenue is not disclosed and neither is the year established or the real estate value broken out separately, which is typical for a confidential NDA-gated listing. For the right owner-operator, this is a combination of a working cash business and a hard asset at a trophy Las Vegas corner, with upside from tightening store operations and re-rating the tenant lease.

Why we like it

The $1.1M EBITDA is backed by hard real estate, which meaningfully de-risks the downside: in a worst case you own a high-traffic Las Vegas corner with alternative use value. That asset backing is the difference between a 6.27x operating-business bet and a real-estate-plus-cash-flow play where the dirt can be refinanced or redeveloped.
Fuel and convenience spending is genuinely recession-resistant because motorists keep buying gas, cigarettes, lottery, and snacks regardless of the economic cycle. This is a staple-demand business at a fixed, high-visibility location, not a discretionary purchase that evaporates in a downturn.
The convenience store is independent with zero franchise affiliation, so the buyer keeps 100% of inside-store margin and controls pricing, product mix, and vendor terms. Inside-store gross margin is where gas stations actually make money, and having no royalty or franchise restrictions is a real structural advantage.
Three income streams (fuel, store, and rent from an on-site tenant) diversify revenue and smooth volatility. The rental income in particular is passive, contracted cash flow that supports the valuation and reduces reliance on fuel volume alone.

How to improve it

Audit and reprice the convenience store merchandise mix within the first 90 days, pushing high-margin categories like beverages, tobacco, lottery, and food-to-go that independent operators can optimize without franchise constraints. Inside-store margin improvements of a few points flow straight to EBITDA given the fixed cost base.
Renegotiate fuel supply agreements and shop jobber or branded contracts to improve cents-per-gallon margin and secure volume rebates. Even a small per-gallon improvement at an 8-pump high-traffic site compounds materially across annual gallons sold.
Review the on-site tenant lease for below-market rent, short remaining term, or missing escalators, then re-rate it to market on renewal. A tightened, longer-term lease both raises cash flow and increases the appraised value of the real estate.
Add or expand high-margin ancillary services such as a car wash, air and vacuum, ATM, or expanded food service if the lot and permits allow. These are proven margin layers that leverage the existing traffic without adding proportional labor.
Implement back-office controls: POS-level inventory tracking, shrinkage monitoring, and labor scheduling tied to traffic patterns. Cash-heavy, clerk-run businesses leak profit through shrink and overstaffing, and tightening these is immediate EBITDA.
Evaluate adding or expanding digital and loyalty tools (fuel rewards, app-based promotions) to drive repeat visits and inside-store attach rates. Converting fuel-only customers into store buyers is the highest-ROI lever at any station.

Diligence notes

Demand a clean allocation of the $6.9M price between the real estate and the operating business, because the 6.27x EBITDA multiple is meaningless until you know how much is dirt versus cash flow. Order an independent appraisal of the land and improvements to confirm the real estate value underpinning the price.
Get full fuel volume and margin history (gallons sold, cents-per-gallon, and supply contract terms) plus inside-store sales and gross margin, since revenue is not disclosed at all. Verify whether the $1.1M EBITDA includes or excludes the rental income and whether it reflects a market owner salary.
Scrutinize the on-site tenant lease: rent amount, term, escalators, tenant creditworthiness, and renewal risk. If a large slice of the EBITDA is rent, the durability and market-rate of that lease directly drives the valuation you can defend.
Commission a Phase I and likely Phase II environmental assessment given underground storage tanks, which is non-negotiable for any fuel site. Tank age, integrity, insurance, and remediation liability can be a deal-killer or a major price adjustment.
Confirm all fuel and tobacco licenses, permits, and regulatory compliance transfer cleanly, and verify tank testing and compliance records are current. Also establish when the business was established and get at least three years of tax returns to validate the undisclosed financials.

Source

Originally listed on BizBuySell. View original listing →