Due diligence on a fuel property runs four parallel tracks — financial, environmental, real estate or lease, and regulatory. Missing any one of them is how buyers inherit problems that outlast the purchase price.
This guide covers the diligence process on a broker-facilitated gas station acquisition and what each track must produce.
Financial Verification
Verify gallons from 24 to 36 months of supplier load statements by grade, reconciled to tank inventory records and fuel tax filings. Verify inside sales from POS department-level reports, not summaries, and reconcile both to bank deposits and tax returns.
Model margin, not revenue: cents per gallon achievable under the actual supply contract, gross profit by store department, credit card fees, labor, utilities, insurance, and property tax reset to post-sale assessed value rather than the seller's historical figure.
Environmental Assessment
Order a Phase I performed to current ASTM standards by a qualified environmental professional, and follow with Phase II soil and groundwater sampling where recognized environmental conditions are identified. Review tank age, construction, leak detection, testing records, registration status, and any open regulatory cases.
Determine whether the site qualifies for a state restoration or cleanup program and whether eligibility transfers. Findings must convert into contract terms — price adjustment, escrow, seller-funded remediation with milestones, indemnity, or environmental insurance.
Real Estate, Lease, and Contracts
For fee purchases, review the title commitment and survey for easements, access rights, curb cuts, setbacks, and deed restrictions barring fuel sales. Confirm zoning permits the use and whether it is conforming, which determines rebuild rights after a casualty.
For leasehold purchases, the lease is the asset: remaining term, options, escalations, assignment rights, tank and canopy responsibility, and redevelopment or relocation clauses. Separately review the fuel supply agreement, image loan balance, store franchise, and equipment leases for assignment conditions.
Regulatory, Operational, and Closing Readiness
Confirm which permits and licenses exist, which transfer, and which must be reapplied for — tank facility permits, weights and measures, alcohol, tobacco, lottery, and food service. Alcohol is usually the longest timeline. Run lien and bulk sale searches, review employment matters, and inspect equipment condition including dispensers, canopy, coolers, and car wash.
The Gas Station Group manages these tracks in parallel on Florida acquisitions. See environmental due diligence or call (305) 518-1545.
Frequently Asked Questions
Speak With a Florida Gas Station Specialist
Request a confidential consultation or off-market opportunities and pricing through our contact page, or call +1-305-518-1545. The Gas Station Group is headquartered at 8603 S Dixie Hwy, Miami, FL 33143. Principal: Bobby Berrido.