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Westheimer mobil station

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Westheimer mobil station

  1. 1. Westheimer
  2. 2. A “Value Add ” Opportunity
  3. 3. Currently, the property is . . .
  4. 4. Under-Utilized,
  5. 5. Functionally Obsolete,
  6. 6. Under Marketed,
  7. 7. Convert this Mobil Station into . . .
  8. 8. C-Store – Fuel – Service – Car Wash
  9. 9. “On the Run” C-Store
  10. 10. “On the Run” Interior
  11. 11. “Brushless” Car Wash
  12. 12. Inspections – Lubes – Repairs
  13. 13. Projected Conversion Cost Item Size Cost Per Ext. CostDemolition 1,260 $ 10.00 12,600Store Shell 3,500 $ 45.00 157,500Car Wash Shell 1,225 $ 30.00 36,750Reconfigure Awning 2,142 $ 5.00 10,710Store Build-out 3,500 $ 40.00 140,000Car Wash Mechanical 96,400 96,400 Total $ 453,960
  14. 14. Financial ProjectionsWestheimer Mobil Station 2010 Actual Proforma (Renovated)Purchase Price 1,750,000 100% 1,750,000 80%Build Out Allowance - 0.00% 450,000 20%Total Acquisiton Price 1,750,000 100.00% 2,200,000 100%Cash Down 550,000 31% 1,000,000 45%Mortgage 1,200,000 69% 1,200,000 55%Interest Rate 6.00% 6.00%Term 240 Months 240 MonthsDebt Service 103,166 8,597 103,166 8,597Net Income (EBITDA) 355,972 29,664 760,848 63,404Less Debt Service 103,166 8,597 103,166 8,597Net Cash Flow 252,806 21,067 657,682 54,807Debt Service Coverage 3.45 to 1 7.37 to 1Return on Investment 20.34% 34.58%Cash on Cash Return 45.96% 65.77%
  15. 15. Actuals – ProformaWestheimer Mobil Station 2008 Actual 2009 Actual 2010 Actual Proforma (Renovated)Purchase Price 1,750,000 100% 1,750,000 80%Build Out Allowance - 0.00% 450,000 20%Total Acquisiton Price 1,750,000 100.00% 2,200,000 100%Cash Down 550,000 31% 1,000,000 45%Mortgage 1,200,000 69% 1,200,000 55%Interest Rate 6.00% 6.00%Term 240 Months 240 MonthsDebt Service 103,166 8,597 103,166 8,597 Annual Monthly Annual Monthly Annual Monthly Annual Monthly Gasoline 5,103,116 425,260 1,694,810 141,234 1,056,000 88,000 2,800,000 233,333Parts 848,492 70,708 479,434 39,953 156,320 13,027 350,000 29,167Groc eries 235,067 19,589 291,002 24,250 45,120 3,760 547,500 45,625Car Wash - - - - - - 244,915 20,410Labor 934,138 77,845 589,250 49,104 364,500 30,375 600,000 50,000Total Revenue 7,120,813 593,401 3,054,496 254,541 1,621,940 135,162 4,542,415 378,535Gasoline Cost 4,896,026 408,002 1,470,674 122,556 932,450 77,704 2,600,000 216,667Cost of Car Wash - - - - - - 61,229 5,102Cost of Goods 1,180,689 98,391 759,380 63,282 124,882 10,407 628,250 52,354Total COGS 6,076,715 506,393 2,230,054 185,838 1,057,332 88,111 3,289,479 274,123Gross Profit 1,044,098 87,008 824,442 68,704 564,608 47,051 1,252,936 104,411Wages 143,678 11,973 205,218 17,102 98,400 8,200 240,000 20,000Payroll Taxes 12,827 1,069 2,494 208 14,760 1,230 36,000 3,000Lic enses & Taxes 57,709 4,809 7,378 615 34,720 2,893 40,000 3,333Maint. & Repair 8,026 669 10,574 881 2,475 206 12,000 1,000Insuranc e 24,329 2,027 14,656 1,221 6,810 568 15,000 1,250Legal & Prof. 3,750 313 5,500 458 3,600 300 3,600 300Uniforms 5,184 432 7,326 611 375 31 5,000 417Supplies 13,251 1,104 3,968 331 717 60 4,500 375Offic e use 3,672 306 1,386 116 225 19 1,200 100Advertising 4,028 336 2,916 243 743 62 18,000 1,500Utilities & Phone 40,538 3,378 54,250 4,521 11,872 989 24,000 2,000Tools 3,014 251 4,272 356 1,700 142 1,700 142Credit Card Charges 71,280 5,940 15,622 1,302 32,059 2,672 90,848 7,571Misc . 1,277 171 1,344 154 180 15 240 20Total Expenses 392,563 32,714 336,904 28,075 208,636 17,386 492,088 41,007Net Income (EBITDA) 651,535 54,295 487,538 40,628 355,972 29,664 760,848 63,404Less Debt Servic e - - - - 103,166 8,597 103,166 8,597Net Cash Flow 651,535 54,295 487,538 40,628 252,806 21,067 657,682 54,807 Debt Service Coverage 3.45 to 1 7.37 to 1 Return on Investment 20.34% 34.58% Cash on Cash Return 45.96% 65.77%
  16. 16. Location, location, location SeaglerSam Houston Tollway Westheimer Mobil Westheimer
  17. 17. Demographics
  18. 18. Traffic Count Westheimer / Seagler 87,000 cars per day.32 million cars per year.
  19. 19. Existing Site PlanLand Area = 25,000 sf
  20. 20. Proposed Site Plan
  21. 21. The Neighborhood
  22. 22. Carillion Center Across Westheimer
  23. 23. Amegy Bank Next Door
  24. 24. Bank of America Across Westheimer
  25. 25. The Competition across Seagler
  26. 26. Environmental No environmental issues.Inspected and Certified by TCEQ. Upgraded underground tanks.
  27. 27. Expressions of Interest invited through July 15th, 2011.
  28. 28. Questions . . .4545 Bissonnet Street Suite 285Bellaire, Texas 77401 713-702-2002

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