Appraisal Services For Gas Stations
Appraising Is Our Tap Root
Gas stations are special-use, capital-intensive assets whose productivity is more locationally sensitive than any other type of real estate. They sell commodities on very thin margins and are subject to aggressive competition, both from within the industry and from non-traditional retailers. Large volumes of hazardous materials flow through them, sometimes creating complicated liability and environmental issues. Contracts drafted by skilled attorneys in big corporations are often attached to the real estate, creating long-term encumbrances that limit what can be done with the property. Debt capital for financing stations ebbs and flows in a fickle tide.
And the list of industry-specific issues goes on ... payment card industry standards ... shifting consumer demand ... national energy policies ... clean air standards ... volatile oil and gas prices ... ever-changing SBA financing rules ... renewable fuels mandates ... OPEC ... legislated equipment requirements ... and on.
All of these factors are in tension at every gas station in the country, representing a unique set of compromises, risks, and opportunities from which value arises. To reliably estimate that value, one must have substantial experience, knowledge, and skill. No real estate professional can develop those qualities when gas stations are incidental to their business. It can only be earned through a long-term commitment to the petroleum industry.
Petroleum Realty Advisors made that commitment long ago. It is a commitment grounded in appraisal services, a line of business that is based first and foremost on trust. That trust, combined with market knowledge, is the company's foundation. It is why appraisal services will always be a vital and indispensable part of our business. It is why clients will always trust that our counsel is firmly grounded in the market.
Appraising and Consulting Services Offered
New clients are surprised to find a company devoted to such a narrow niche. However, there are about 5,000 gas stations in the Pacific Northwest and the need for appraisal and consulting services is larger than one expects. Our services are needed in a wide range of circumstances, including:
- Financing appraisals for purchases/sales, new facility construction, renovation of existing facilities, and ground-up rebuilds;
- Valuation and price counseling for the buying and selling of facilities, from one site to hundreds;
- Condemnation appraisals in defense of city, state, or federal government eminent domain actions;
- Internal Revenue Service-compliant appraisals for estate planning;
- Cost segregation appraisals for allocations of real estate, personal property, and business/goodwill values;
- Property tax appeals;
- Appraisals for divorce arbitration and litigation proceedings;
- Asset valuation for partnership/corporation formation and dissolution;
- Jobbership appraisals;
- Business appraisals;
- Feasibility studies for new construction and remodeling of existing stations to maximize productivity;
- Review of leases for completeness, defensibility, equity, and maximum productivity and benefit;
- Development and production of prospectuses for the marketing of petroleum marketing assets and/or jobberships;
- Expert witness testimony related to any of these services.
If you own an interest in a gas station, any interest at all, then when you are faced with a business decision that involves the value of that station, call us. Nobody else in the region is as qualified to help you.
Background
Petroleum Realty Advisors is led by Christopher Gaskins, MAI, who has been serving the Pacific Northwest since 1992. He began developing his gas station expertise in the mid-1990s and launched Petroleum Realty Advisors in 1998. The following year, he earned the MAI designation from the Appraisal Institute. The Appraisal Institute is a private organization with a strict code of ethics and professional conduct; members are held to the highest of standards and expectations. The MAI is the premier designation widely recognized by the market as connoting excellence. Mr. Gaskins is a certified general appraiser in Oregon and Washington. In addition, Mr. Gaskins has been a licensed real estate broker since 2003.