CITGO Gas Station - Unique Downtown Location

PROPERTY INFORMATION

     Property Address:   531 Elm St.

     Land Size:   .14 Acres  (6,111 square feet)

     Improvements:

    Convenience store and gas station. Two - twenty-four hour, credit card operated fuel pumps (four feuling access points); fronting corner of Elm St. and access road to IH-37 downtown.

    Zoning:   D—Downtown

    Asking Price:         $229,000

    Comments:            

    PROPERTY CURRENTLY VACANT

    Only gas station on east side of downtown and IH-37/Hwy. 281 in the Downtown district.  No gas stations more accessible for downtown hotels & buisinesses and the San Antonio International Airport via IH-37.  There have been no efforts to partner or accommodate downtown businesses or to cultivate the built-in clientele that exists.  Additional re-development opportunity exists with Downtown zoning providing favorable parking requirements and highway visibility providing unique marketing to potential tenants.  Height restriction due to billboard exists, however, estimated height of at least 35’ is achievable.  The potential to expand footprint for convencience store on existing site and accessability to additional land owned by City of San Antonio could provide additional utility.

Sales:

Prior tenant represented fuel sales approximating 30,000 gallons/month, and convenience store gross sales approximating $20,000/month.   Owner does not warrant accounting methods or accuracy of information provided by prior tenant.

Environmental:

Prior LPST concerns recently released upon receipt of No Further Action letter from TCEQ, received August, 2009.