And many stations are able to hold full truck loads. The appraisal of special use properties gas stations. We have appraised over 400 existing and proposed gas stations which provides us an unparalleled ability to assist financial institutions and property owners in acquisition, lease negotiation and refinancing due diligence. Gas technology institute gti barrier reduction grant us dept. The american society of appraisers has definitions which apply to the valuation of machinery and equipment. Instructions for worksheet rpie2015 gas station, car wash and oil change facilities page 3 c.
The effective date of the opinion of the fee simple market value is august 18, 201 5 the date the subject property was inspected by the appraiser. Presentation full effective communication skills paven garibandi. Management by objectives mbo method this is one of the best methods for the judgment of an employees performance, where the managers and employees set a particular objective for employees and evaluate their performance periodically. A typical convenience store is about 2,800 square feet in size and services about 1,100 customers per day. Most of the differences in equipment value are attributed to the type of fuel pumps installed and types of tanks. A hypermarket is a large format discount retailer that sells department store merchandise, groceries and gasoline. The valuation of a gas stationconvenience store presents a number of special considerations unique issues that ultimately affect the value or discount rate. Reenstierna llc specializes in the appraisal of gasoline service stations. So its safe to assume more than 1,000 gallons of fuel. Market value based assessment legislation in saskatchewan.
Berryhill georgia appraisal services 94 commerce st, hawkinsville ga 31036. Because goingconcern appraisal of special purpose property is so meticulous, the accuracy of the valuation is best served by an appraiser with expertise in this field. Projected financial analysis summary gas station venture. The going concern groups professionals have appraised hundreds of operating gas stations, ranging from those with small payment kiosks to large 10,000 squarefoot travel centers with multiple restaurant franchises and convenience stores. This interview with lynton kotzin was published in the december 2010 issue of business valuation update, a publication of business valuation resources, llc. In its fourth addition, it defines going concern value as follows.
Although most states reimburse business relocation costs, many businesses such as gas stations and car washes simply cannot be effectively relocated. Top 10 fuel operator interview questions and answers tonychoper8406. You can, if determined, figure out about how far the tanks is by the access holes at the station. Iaao assessment standards represent a consensus in the assessing profession and have been adopted by the executive board of the. This article will address proper appraisal methodology for gas station and car wash valuations where both real property and business goodwill are impacted. Convenience stores retail fuel the mcenery company. The assessor should keep abreast of regulations and technological advances. Effective date of value opinion december 31, 1998 date of onsite visit to the location april 20, 2007 appraisal report date april 30, 2007 the analyses and results of the investigation presented in the attached appraisal report are intended. Fha single family housing policy handbook table of contents. Usually more emphasis is placed on financial ratio analysis.
Projected financial analysis summary picture 2 locations closed gas station venture anytown, pa 40 locations presented by glenn blumenthal malvern advisors, llc. The retail petroleum group gas station and convenience. Our detailed mineral appraisals are uspap and firrea compliant and contain the most uptodate market and well location data. Heres a sample executive summary for a gas station business plan. Convenience store gas station appraisals choosing a unit of. Typically, hypermarkets sell three times the volume of gasoline of a traditional convenience store at a discount of 5 to 7 cents per gallon of the retail price. At recent speaking engagements, jeff kern gave presentations on oil and gas valuation. Top 36 gas station interview questions with answers pdf brownmichael917. They are currently bp and phillips 66 branded stores. Posted on july 6, 2015 april 9, 2020 by compliant ia. This interview with lynton kotzin was published in the december 2010 issue of business valuation update, a. The offering consists of two gas stations located along vermilion street in danville, il. Use this sample gas station checklist to create or update your inspection program across your gas.
For measure, a typical tanker truck carries about 5,000 7,000 gallons. Standard on the valuation of properties affected by. Gas station clerk performance appraisal linkedin slideshare. Your property must be in tax class 1 or tax class 2, and the unit count must include all units whether vacant or occupied. Concept selection for hydrocarbon field development planning. The day of 1800 gallon bobtail trucks carrying gas to a station are long gone. Convenience store gas station appraisals choosing a unit. Petroleum realty advisors, appraisers and brokers of gas stations. Local expertise leveraging national appraisal coverage in the gas stationc store sector, value is a function of sustainable profitability. As a staple in the community for gas and cooked food, company name is looking to expand to a full service discount store. Gas station saskatchewan assessment management agency. Figure 2b and a semisubmersible platform just on top of the gas field to maximize recovery also with separation and compression facilities for sending gas to shore, see.
The real estate appraised is briefly described as a 26 year old gas station facility. Simply stated, gas station use is considered the highest and best use when when capitalized goingconcern cash flow yields a value in excess of depreciated cost. Hall noted that gas stations and convenience stores generally sell as a. Highway 191 property highlights 4 fuel pumps 8 dispensers subway. If it is a gas station, it has more than 1,000 gallons of fuel. We do not handle any other type of real estate or business. We specialize in the appraisal of owneroccupied and leased retail petroleum outlets with convenience stores throughout the southeastern united states. Please click the link below to download a pdf addressing this topic. Top 12 methods for gas station clerk performance appraisal. As there are no convenience stores located in the community other than freds fruit stand at the corner of 4th and. Gas station asset valuation equipment 159 value definitions as a result from all of the difference s mentioned above, many value definitions are available and the right one is needed to be agreed upon before a value can be given. Typically, hypermarkets sell three times the volume of gasoline of a traditional convenience store at a discount of 5 to 7 cents per. Bvrs special report,valuing companies with real estate.
If the property is located within 300 feet of an aboveground or subsurface stationary storage tank with a capacity of 1,000 gallons or more containing flammable or explosive material, the appraiser must report this information in the appraisal. The market value of all the tangible and intangible assets of an established and operating business with an indefinite life, as if sold in aggregate. Convenience store appraisals cstore value and appraisal. For example, pay at pump fuel pumps are installe d at more advanced premium. This report, with perspective from both real estate and business appraisers will help steer the profession toward a more sensible consensus. Once an exploration well has found hydrocarbons, considerable effort will still be required to accurately assess. Seventy percent of stores are owned by companies that have ten or less stores while 62% of convenience stores are owned by someone who has only one store. Convenience stores and gas stations are specialbuilt properties that are designed to generate earnings from the retail sale of specific products. The dictionary of real estate appraisal is published by the appraisal institute. This includes storage tanks for domestic and commercial uses as well as automotive service station. Gas stations are among the most common types of commercial real estate and the most difficult to appraise.
Gas stations have at least two tanks 3 if they have diesel, typically with 5,000 to maybe 10,000 gallons. When providing valuation services, appraisers require indepth experience and a range of specialized skills, which must include. Figure 3 shows the architectural concept of the gas station. Location overview located on north end of main street in monticello. Swapna shah grimaldi commercial realty corp 115 w bearss ave tampa, fl 336 8. Upstream field appraisal phase the exploration phase of the petroleum field life cycle closely links with the next stage which is known as the appraisal phase. Figure 3 picture of the gas station made in the 3dsmax program gas station is a singlestorey frame type building. Oct 11, 2011 convenience store gas station appraisals choosing a unit of comparison. Appraisal institute annual meeting indianapolis, indiana july 24, 20 michael f.
Risk management for real estate appraisers and appraisal firms pdf. Appraisal experts untangle the issues addresses the unique concerns and challenges of valuing a company with real estate. Convenience store gas station appraisals choosing a unit of comparison. Highway 191 property highlights 4 fuel pumps 8 dispensers subway potential for large truck servicingfueling. Its crucial the data considered matches the interest appraised. Reenstierna llc has been appraising bostons most noteworthy real estate since 1930. The market data considered for each ownership interest is different. The rectangular service building for drivers and passengers has dimensions in the axes of 18. The american appraisal company recommended the discounted net cash flow method and stated assumptions for proper valuation of these properties. A property consultancy specializing in convenience stores, gas stations and. May 12, 2015 job performance evaluation form page 12 iii. Petroleum realty advisors is a real estatebusiness services firm exclusively specializing in gas stations in the pacific northwest.
Gas station clerk performance appraisal allanemma7. Essential appraisal issues, published by the appraisal institute, the most appropriate and accurate method for appraising the fair market. Fha single family housing policy handbook table of. Because costs may change with technological advances, the assessor should follow developments and may wish. Valuing a gas station, convenience store kotzin valuation.
With responsive national coverage, we have performed valuation services. Gas station asset valuation equipment 158 within the gas station industry, operators have standard equipment that make up the majority of their assets. Gas station cstore carwash franchise leasehold valuation. Petroleum realty advisors, appraisers and brokers of gas. The connection between cstore earnings and property value. The fha requirement is 300 feet from an underground tank. Gas station, liquor, deli, full grocery and laundromat for sale. He can be reached at email protected or 541 8230029. According to convenience stores and retail fuel properties. Retail petroleum consultants, is the leading specialist appraisal firm for the goingconcern valuation of fueling stations, car washes, cstores, qsrs, and other petroleumrelated properties. With responsive national coverage, we have performed valuation services for over 8,000 properties throughout the united states. The valuation of a gas station can be as simple as the gathering of a handful of good comparable sales and valuation analysis of the same kind that is applied to a house. May 23, 2015 gas station clerk performance appraisal allanemma7. Company name is a convenient store and gas station that has served the community for the last 40 years.
Bainbridge is an author, instructor and expert witness in the appraisal and valuation of convenience stores and gas stations. To assist multiunit retailers starting or improving their retail audit program, compliant ia regularly publishes howto guides, best practices and checklists. General assumptions 1 2 the analysis assumes a purchase on 12012, therefore 2012 of the analysis is a partial year. Standard on the valuation of properties affected by environmental contamination 2016 6 a clean property may suddenly have a major problem that affects value. We specialize in petroleum facilities, convenience stores and carwashes. The phillips 66 location features 14 hd security cameras and new fans and lights in the cooler. Find gas station, convenience store and truck stop appraisers and appraisal companies here.
The mcenery company has been engaged by operators, national and localregional lending institutions, attorneys and private developers to opine on the market value of gas station properties located across louisiana, mississippi and alabama. Gas station venture property name 2012 40 locations street address 2021 9 years anytown city pa state zip 145,214 gross building square feet retail property type cbd property location cdb of suburban various year built value information. The phillips 66 store will be rebranded as a shell station in the near term. Our team of veteran cstore appraisers have the experience to properly analyze both property and submarketspecific factors that drive the going concern value of any given outlet. Our appraisals are unbiased and come complete with a full professional report. But you can just call and ask and explain why you are curious. How to start a gas station business free book pdf download.
647 69 112 613 202 1551 884 942 328 1148 1485 1009 160 477 385 1259 679 353 1117 118 783 766 795 438 1537 1094 332 119 352 457 857 315 674 521 1015 1461