117 Lake Beulah Drive

Description

At the 3 way intersection of Lake Beulah, Main Street, and Sloan Avenue North, and just behind the newly renovated RP Funding Center. This property has a great deal of unrealized potential, for with a new operator and a little TLC would go a very long way here. There are two fuel tanks on-site, one is a 6,000-gallon metal and fiberglass doublewalled tank for premium, which was installed in January of 2007, and the second tank is a 10,000-gallon tank, for unleaded regular. This tank was installed by the previous owner in 1996 / 1997. Also, the property is operating without a gasoline contract in place, with Harbor Petroleum supplying the fuel. The current month-to-month tenant is not required under his lease to provide any back-up to any of his reported sale figures. He is paying $3,000 per month in rent, reports $34,000 to $35,000 in monthly store sales, and says that he is selling 3,500 gallons of fuel on average each month, he goes on to say that the lottery profits are about $1,500 per month and that he is subleasing the deli for $700 per month. At the 3 way intersection of Lake Beulah, Main Street and Sloan Avenue North, and just behind the newly renovated RP Funding Center (which recently completed $14,000,000 worth of renovations) and it is also in very close proximity to the under construction $180,000,000, 168 acre Bonnet Springs Park. And just across Lake Beulah is the Second Phase of Twin Lake Estates with a 132 new apartment units, and when Phase 3 is fully completed will total to 320 units of affordable housing. Also completed just around the corner is the new 126 room Springhill Suites hotel. The City has just approved $250,000 for the new Roundabout, to replace the nearby lighted intersection.