76-Branded Gas Station & C-Store with Real Estate, North Tacoma WA

$4.9M

Revenue

$1.2M

SDE

7.2x

Multiple

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Full Editorial Writeup

This is a 76-branded fueling station with an attached 2,300 square foot convenience store and the underlying real estate, sitting on roughly 12,000 square feet of commercially zoned land in a high-income residential corridor of North Tacoma. The site runs 24/7 with eight fueling positions, four multi-product dispensers, and about 30,000 gallons of underground storage with compliant monitoring. Revenue is diversified across branded fuel and diesel, beer and wine, tobacco, grocery, snacks, propane, lottery, ATM services, and rental income from an on-site food vendor.

The business generated approximately $4.89M in revenue and $1.23M in owner cash flow, with 2026 tracking slightly lower at roughly $4.6M revenue and $1.1M+ cash flow annualized through July. Fuel volume averages around 50,000 gallons per month with $1.00 to $1.40 pool margins, and inside sales carry strong 50% to 52% margins. The station benefits from dense neighborhood rooftops, strong street visibility, and limited direct competition in a supply-constrained submarket.

What makes this deal notable is that $6.5M of the $8.9M asking price is real estate. That means the buyer is acquiring both an income-producing operating business and a hard asset in a desirable Tacoma trade area. The station currently runs semi-absentee with the owner on site only 4 to 6 hours a day, which flags both operating slack to tighten and margin upside for a hands-on operator.

Why we like it

Earnings quality is anchored by a diversified revenue mix and high inside-sales margins of 50% to 52%, which is well above typical c-store norms and suggests disciplined merchandising. Fuel pool margins of $1.00 to $1.40 per gallon on roughly 50,000 gallons monthly add a steady base, and ancillary streams like lottery, ATM, propane, and food-vendor rent smooth the income profile.
Durability comes from the essential nature of fuel and convenience staples plus a strong 76 brand and a location with limited direct competition in a supply-constrained submarket. Customers refuel and buy tobacco, beer, and snacks regardless of the economic cycle, so this is a genuinely recession-resistant cash flow.
The real estate at $6.5M of the $8.9M price means you are buying a hard asset in a high-income North Tacoma corridor, not just goodwill. That provides downside protection, financing collateral, and long-term appreciation independent of the operating business.
Operator advantage is clear because the business runs semi-absentee with the owner on site only 4 to 6 hours a day. A hands-on buyer who tightens purchasing, planogramming, and food service can lift both volume and inside-sales margins without a heavy capital outlay.

How to improve it

Add or expand grab-and-go and hot food service to capture the neighborhood breakfast and lunch traffic already passing through. Food service carries strong margins and drives incremental fuel and c-store attach, and the existing on-site food vendor arrangement proves demand exists.
Rebuild the vendor and rebate programs to squeeze better cost of goods on tobacco, beer, and snacks. Even a one to two point improvement on $2M+ of inside sales at current margins flows almost entirely to the bottom line.
Launch a loyalty and app-based promotion program targeted at the dense surrounding residential base. Repeat visit frequency and basket size are the two highest-leverage levers at a neighborhood station with a loyal customer core.
Extend owner presence beyond the current 4 to 6 hours to reduce shrink, improve merchandising execution, and enforce planogram discipline. Semi-absentee sites routinely leak margin through inventory loss and stockouts that a present operator eliminates.
Optimize fuel pricing dynamically against nearby stations given the limited competition and high-income demographic. There is room to test price elasticity and protect the $1.00 to $1.40 pool margin while holding or growing volume.
Evaluate adding car wash, EV charging, or additional dispenser throughput given the 12,000 square foot parcel and desirable location. These raise both the operating income and the underlying real estate value over a hold period.

Diligence notes

Scrutinize the 2026 decline: revenue annualizing at roughly $4.6M and cash flow at $1.1M is down from the trailing $4.89M and $1.23M. Understand whether this is fuel price driven, volume driven, or a demand softening, because the multiple is being paid on the higher trailing number.
Separate the real estate value from the business value cleanly. At $6.5M for the property, the operating business is priced at roughly $2.4M on $1.23M SDE, so validate the appraisal independently and confirm the blended 7.23x is defensible against gas station operating comps.
Order a full environmental and underground storage tank assessment despite the clean EPA report. Tank age, corrosion protection status, and any remediation exposure on 30,000 gallons of underground storage are the single largest hidden liability in fuel retail acquisitions.
Confirm the 76 fuel supply agreement terms, branding requirements, remaining term, and any volume commitments or capital obligations that transfer to a new owner. The pool margin economics depend heavily on the jobber and supply contract structure.
Verify the food vendor rental income, lease term, and whether it is included in the stated SDE. Also validate the tobacco, lottery, and ATM revenue streams and license transferability, since these ancillary lines materially support the cash flow.
Test the true labor requirement given only 2 full-time employees and a 24/7 operation. Confirm whether the reported SDE fully loads a market-rate manager or whether the owner's 4 to 6 daily hours are effectively unpaid labor that inflates the earnings figure.

Source

Originally listed on BizBuySell. View original listing →