Figures are drawn from the seller deal sheet. Fuel gross profit is calculated directly from stated volume and the $0.27 margin. Inside gross profit is modeled at 30% and net income is illustrative, both pending the overhead P&L or store POS. Items tagged MODELED are not yet verified to actuals.
Two 76-branded operations on the same road in Walterboro, less than a mile apart. Low capital entry at $125,000 a door, real estate leased rather than owned, and enough density to run both as a single market with shared oversight and buying. The story here is not the stabilized cash flow, it is the room to grow fuel volume against a healthy per-gallon margin and a rent structure that does not punish growth.
Per store and combined, monthly. Fuel gross profit is hard math from the stated volume and margin. Inside gross profit carries a 30% assumption that has to be confirmed against the actual category mix.
| Line (monthly) | 346 Bells | 704 Bells | Combined |
|---|---|---|---|
| Inside sales | $50,000 | $50,000 | $100,000 |
| Fuel volume (gal) | 18,000 | 21,000 | 39,000 |
| Fuel GP @ $0.27 | $4,860 | $5,670 | $10,530 |
| Inside GP @ 30%MODELED | $15,000 | $15,000 | $30,000 |
| Gross profit | $19,860 | $20,670 | $40,530 |
| Less rent (Option 1) | $3,040 | $3,130 | $6,170 |
| GP after rent, before overhead | $16,820 | $17,540 | $34,360 |
Annualized, that is roughly $412,000 a year of gross profit after rent across the pair, before payroll, utilities, insurance, and maintenance.
The landlord offers two lease structures per store. At these volumes the choice is not close.
Choosing the variable structure saves roughly $6,400 a month per store at current volume and keeps occupancy cost moving only three cents for every gallon of growth. The flat rate is a trap at this volume and should not be on the table for a buyer.
A true net cannot be stated yet, because the deal sheet carries no payroll, utilities, insurance, or maintenance. For a store at $50K inside plus light fuel, non-rent overhead typically runs $10K to $16K a month. The figures below are illustrative at a $13K mid-estimate, not verified.
| Illustrative (annual) | 346 Bells | 704 Bells | Combined |
|---|---|---|---|
| Net @ ~$13K/mo overheadMODELED | ~$45,840 | ~$54,480 | ~$100,320 |
| Implied multiple | 2.7x | 2.3x | 2.5x |
A 2.5x package multiple is a normal, healthy small-operator number, not a distressed buy and not the 1.2x outlier some larger packages show. But it swings entirely on the real overhead, so the operating P&L is the first document to pull.
The headline is the volume upside. 18,000 to 21,000 gallons a month is light for a fuel site. That is either an underused asset or a soft location, and which one it is decides the deal. If these sites can be grown, the math is direct:
Rent only moves three cents on each of those gallons, so growth drops almost entirely to the bottom line. This is an operator's growth play, not a stabilized cash cow.
$125,000 a door, $250,000 for the pair. Accessible to a first acquisition or an expanding operator.
Both sites on Bells Highway, under a mile apart. One market, shared management, combined buying.
$0.27 per gallon is a strong margin to grow volume against, well above commodity-grade pricing.
The variable rent keeps fixed cost low now and scales gently, rewarding the operator who grows gallons.