Due diligence on a leasehold acquisition is narrower than on a purchase but no less consequential. You are not buying the dirt, so your protection comes almost entirely from what you verify and what the lease says.
Use this checklist on any gas station lease acquisition, in Tallahassee or anywhere in Florida.
Financial and Operational Verification
Twenty-four to thirty-six months of fuel invoices and delivery records; POS reports for fuel and inside sales by department; lottery, ATM, car wash, and service income statements; payroll and staffing detail; utility bills; vendor contracts; and current inventory value. Reconcile POS data with invoices and tax filings — three sources that agree are worth more than any pro forma.
Identify why the prior operator is leaving. The answer, verified independently, reframes everything else you find.
Environmental, Equipment, and Compliance
Storage tank registration and age; release detection and inspection records; tightness testing and any statistical reconciliation results; open discharge or remediation cases and their status; a baseline environmental assessment documented as of lease commencement; dispenser, canopy, cooler, HVAC, and lot condition; and any outstanding code or fire inspection items.
Assign every finding to owner or tenant in writing before signing. See leaseholder legal requirements.
Lease, Supply, and Licensing
Full lease with all exhibits and amendments; rent, escalation, and override calculations; maintenance and repair allocation; environmental indemnity; assignment, sublease, and personal guarantee terms; surrender obligations; the fuel supply agreement and any image or franchise obligations; and confirmation that every required license is obtainable in your entity within your timeline.
Close only when finance, environment, equipment, lease, supply, and licensing all clear. Call (305) 518-1545 for a leasehold diligence review. All transactions are brokered through Fausto Commercial.
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.