Valuation of a Gas Station?
I have the opportunity to list a gas station (my 3rd). This one is available as a lease, which is pretty easy to figure out.
However, the seller also wants to list it for sale. I can value the business based on Owner's Discretionary Income, but I'm not sure how to value the land.
It's in a small seaside town and there's only one gas station on the main street. The only other commercial comps are commercial condos that are retail spaces.
I'm hoping to avoid paying a commercial appraiser, but that could be the only option.
Any other suggestions?
