Winnemucca Multi-Tenant Gas Station, C-Store, Smoke Shop & Laundromat with Real Estate

$530K

SDE

5.4x

Multiple

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Full Editorial Writeup

This is a diversified single-location retail property in Winnemucca, Nevada, combining a Sinclair-branded gas station and convenience store, a separate smoke and vape shop, a self-service laundromat, and an additional retail suite, all on roughly 0.72 acres at a corner location with Interstate 80 access. The commercial building is approximately 8,298 square feet, was built in 1990, and sits on GC General Commercial zoning. The asking price of $2,850,000 includes the real estate, valued at $2,200,000, meaning the buyer is effectively paying about $650,000 for the operating businesses on top of the dirt.

The pitch here is stacked, complementary revenue streams that all pull from the same repeat local traffic: fuel and diesel, in-store merchandise including food and liquor, tobacco and vape, coin laundry, and potential rent from the vacant retail unit. Winnemucca is the commercial hub for Humboldt County, anchored by mining activity and, potentially, the nearby Thacker Pass lithium project, which could bring contractors and workers into the trade area. Local fuel competition is described as limited, and the mix of services gives the site a neighborhood draw beyond a standalone pump-and-go.

At $530,000 of reported EBITDA and a 5.38x headline multiple, this is really a real-estate-heavy going concern. Strip out the $2.2M building and the operating cash flow multiple on the business itself is far lower, which changes the entire underwriting. The seller is exiting to pursue other investments, not retiring, and offers about 30 hours of training, which is thin for a four-profit-center operation that includes fuel logistics and environmental compliance.

Why we like it

The reported $530,000 EBITDA comes from four distinct profit centers under one roof, which smooths the volatility of any single line and reduces reliance on transient highway traffic. Fuel, C-store staples, tobacco, and laundry are all things locals buy regardless of the economy, which gives the earnings a defensive, non-discretionary quality. The gate for us is that the core products are genuinely recession-resistant.
The $2.2M real estate included in the price is a hard asset that anchors downside and makes this financeable through SBA or commercial lending against collateral you own. Owning the corner at a prominent Interstate 80 access point gives an operator pricing control over fuel and rent, plus long-term appreciation independent of the business cash flow. You are buying dirt plus a going concern, not just goodwill.
Winnemucca is the commercial center of Humboldt County with a mining-driven economic base and the potential Thacker Pass lithium project nearby, which could add contractors, workers, and fuel demand. Limited local fuel competition means the site is not fighting a price war on the corner. Regional industrial tailwinds are a real, if uncertain, kicker to fuel and convenience volume.
A hands-on operator with C-store or fuel experience can immediately attack the vacant retail suite, expand deli and food offerings, and tighten inventory on tobacco and vape, all levers the current owner has left on the table. The seller admits several unrealized growth paths, which is exactly what an operator wants to hear. This rewards active management rather than requiring a turnaround.

How to improve it

Fill the vacant retail suite within 90 days, either with a franchised quick-serve foodservice concept or a triple-net tenant, converting dead square footage into either high-margin food sales or steady rent. Even a modest lease adds predictable income that lifts the operating multiple and offsets debt service. This is the single fastest, lowest-capital win on the property.
Build out a deli and hot-food program inside the C-store to capture the mining and contractor workforce that passes through daily. Prepared food carries far higher gross margins than fuel and drives incremental drink, snack, and tobacco attachment. Winnemucca's industrial labor base is a captive breakfast and lunch audience if you feed them.
Audit and renegotiate the Sinclair fuel supply agreement and credit card processing to protect the thin per-gallon margin that defines every gas station's economics. Fuel is a volume game where a few cents of spread and lower card fees flow straight to EBITDA. Get the branded contract terms in writing before close and model them into your projections.
Modernize the laundromat with card and app-based payment, higher-efficiency machines, and possibly add wash-and-fold or vending, since coin laundry is a low-labor, cash-flowing route that most owners neglect. Utilization and pricing are easy to optimize once you track machine-level data. This corner of the business is almost pure margin if managed.
Implement a proper POS and inventory system across all four units to get real visibility into shrink, especially on high-theft tobacco and vape SKUs. The listing withholds revenue and defers to a 'call for financials,' which signals loose reporting. Clean data both stops leakage and makes the next sale or refinance far easier.
Layer in loyalty and repeat-purchase mechanics tying fuel discounts to in-store spend to convert one-time fill-ups into recurring local visits. The competitive advantage claimed here is neighborhood repeat traffic, so formalize it. A simple points program increases basket size and frequency across all profit centers.
Pursue additional fuel and convenience contracts with local mining, trucking, and contractor fleets to lock in commercial fuel volume that is far stickier than retail. Fleet fueling agreements are the closest thing a gas station has to recurring revenue. Thacker Pass and existing mining activity make this a realistic B2B channel.

Diligence notes

Revenue is not disclosed and the listing repeatedly says 'call for detailed financial history,' so verify the $530,000 EBITDA figure against tax returns, fuel purchase records, and merchant statements before anything else. Confirm whether that number is pre-rent, since the real estate is owned, and whether it includes any imputed rent or add-backs. A gas station EBITDA with no supporting revenue is the biggest risk in this deal.
Order an environmental Phase I and likely Phase II given underground storage tanks on a 1990-era fuel site, because tank leaks and soil contamination can create liabilities that dwarf the purchase price. Confirm tank age, integrity testing, insurance, and Nevada regulatory compliance. No experienced buyer closes a gas station without a clean environmental picture.
Break out the standalone profitability of each of the four profit centers so you know whether fuel, C-store, smoke shop, or laundromat is actually carrying the EBITDA. Tobacco and vape face escalating regulatory and tax risk, and reliance on that line changes the durability of earnings. Understand the mix before you underwrite growth.
Get an independent appraisal on the $2.2M real estate to confirm the split between property value and business value, since the operating business is priced at only about $650,000 on that basis. This directly determines your effective multiple and SBA collateral coverage. Do not accept the seller's allocation at face value.
Stress-test the Thacker Pass lithium and mining growth narrative, because much of the upside story depends on projects that may be delayed, contested, or cyclical. Underwrite the deal on current, verifiable traffic and volume, treating the industrial catalyst as optional upside, not base case. Mining-dependent towns cut both ways in a downturn.
Confirm the Sinclair branding agreement terms, remaining term, image and equipment obligations, and fuel supply pricing, since these dictate both margin and any required capital reinvestment. Branded fuel contracts often carry costly upgrade commitments that transfer to the buyer. Read the agreement in full during diligence.

Source

Originally listed on BizBuySell. View original listing →