Buy a Gas Station in Columbus, OH

The Columbus Market for Gas Station Acquisitions

Columbus is a practical market for gas station acquisitions. With nearly 910,000 residents and steady population growth driven by Ohio State University, a growing tech sector, and in-migration from smaller Ohio cities, fuel demand in Columbus has stayed consistent across economic cycles.

The city's sprawl matters here. Columbus is geographically large for its population, which means more car-dependent commuters and stronger throughput at stations along corridors like I-270, US-23, and SR-161. Location is the primary value driver for any gas station, and Columbus has a range of them, from high-volume interstate stops to neighborhood convenience plays.

There are currently 51 gas station listings in Ohio. Prices range from $139,000 to well over $200M, but the median asking price sits at $750,000, which is a realistic target for SBA-financed acquisitions.

Deal Economics: What the Numbers Look Like

At $750,000 asking price with $197,859 in annual cash flow, you are looking at a 3.4x multiple. That sits comfortably within the SBA 7(a) sweet spot of 3x to 5x EBITDA.

Here is what a standard deal structure looks like at this price:

• Asking price: $750,000
• SBA 7(a) loan (90%): $675,000
• Seller note (5%, full standby at 0% interest): $37,500
• Buyer cash (5%): $37,500
• Total equity injection (10%): $75,000

The seller note is on full standby, meaning no payments are made on it during the SBA loan term. Regalis Capital achieves this structure on more than 90% of its deals. The $37,500 in buyer cash is what you actually bring to closing.

On a $675,000 SBA loan at approximately 10.5% over 10 years, annual debt service runs roughly $110,000. With $198,000 in cash flow, that puts your DSCR at approximately 1.8x.

That clears the 1.5x floor, though it falls short of Regalis Capital's 2x target. On a deal like this, we would look closely at whether fuel volume data supports the stated cash flow, and whether there is margin room to close that gap. A buyer with operational experience in fuel retail or c-store operations may also negotiate a slightly lower purchase price to push DSCR above 2x.

These are rough estimates based on market data. Actual terms depend on individual qualification and lender.

What to Look for When Buying a Columbus Gas Station

Fuel margin is thin. Gas stations at the median asking price typically generate real profit through the convenience store, car wash, or ancillary services, not the pump.

Before making an offer, verify:

• Fuel volume by month for at least 24 months. This is the best proxy for revenue. Station financials can be dressed up. Fuel delivery invoices cannot.
• Convenience store margin. In-store sales at 25% to 35% gross margin can make or break the cash flow story.
• Environmental records. Underground storage tank (UST) compliance is non-negotiable. Any open EPA violations or remediation requirements can add six figures in liability.
• Franchise or supply agreement. Branded stations (BP, Shell, Marathon) carry supply agreements that transfer with the sale. Read the terms before you make an offer. Some lock you into pricing that compresses margin.
• Lease vs. fee simple. Ground leases significantly affect valuation and SBA eligibility. SBA prefers fee simple ownership. If it is a leasehold, confirm the remaining lease term exceeds the SBA loan term by a meaningful margin.

Columbus has a cluster of Marathon-branded stations along its major corridors. Marathon is headquartered in Findlay, Ohio, which means supply relationships in this market tend to be well-established and lender-friendly.

SBA Financing for Gas Stations in Ohio

Gas stations are SBA-eligible, but they get more lender scrutiny than most acquisition types. Environmental risk is the primary reason. SBA lenders will require a Phase I Environmental Site Assessment, and any red flags typically trigger a Phase II.

Ohio SBA lenders are familiar with gas station deals. The state has a well-developed fuel distribution network, and Columbus-area banks with SBA preferred lender status have underwritten these acquisitions before.

Key financing points for Ohio gas station buyers:

• Phase I ESA is required. Budget $2,000 to $3,500 for it.
• Phase II ESA may be required if Phase I finds concerns. Budget $5,000 to $15,000 or more.
• UST insurance and state compliance documentation will be part of the lender package.
• SBA max loan is $5M, so the median Columbus deal at $750,000 is well within range.

The state of Ohio requires UST operators to carry financial assurance. Confirm the seller is current on this before going into due diligence.

Frequently Asked Questions

How much does it cost to buy a gas station in Columbus, Ohio?

The median asking price for a gas station in Ohio is $750,000, based on current listings. Prices range from under $200,000 for small, low-volume operations to well over $1M for high-traffic stations with convenience stores or car washes. The right number depends heavily on fuel volume, in-store revenue, and whether the property is included.

Can I use an SBA loan to buy a gas station in Columbus?

Yes. Gas stations are SBA 7(a) eligible in Ohio. The SBA loan covers 90% of the acquisition price, with 10% coming from the buyer as equity injection (5% cash plus a 5% seller note on full standby). The main SBA hurdle for gas stations is environmental review, which requires at minimum a Phase I Environmental Site Assessment.

What is the typical cash flow for a Columbus gas station?

Median cash flow for Ohio gas station listings is approximately $198,000 annually. That number should be treated as a starting point. Verify it against fuel delivery records and point-of-sale data from the convenience store. SDE figures from brokers often include add-backs that may not reflect what a new owner will actually collect.

What environmental issues should I check when buying a gas station in Columbus?

The primary concern is underground storage tank (UST) compliance. Any history of leaks, spills, or EPA enforcement actions can trigger expensive remediation that transfers with ownership. Request the full UST registration history from the Ohio EPA before making an offer, and budget for a Phase I ESA as part of your due diligence costs.

How long does it take to close on a gas station acquisition in Ohio?

Most SBA-financed gas station acquisitions close in 60 to 120 days from signed letter of intent. The environmental review process often drives the timeline. Phase I takes 2 to 3 weeks. If a Phase II is required, add another 4 to 8 weeks. Having a lender with SBA preferred status and gas station experience can reduce underwriting time by 3 to 4 weeks.

Thinking About Buying a Gas Station in Columbus?

Regalis Capital's deal team reviews 120 to 150 acquisition opportunities per week. If you are evaluating a Columbus gas station, we can help you run the numbers, structure the SBA financing, and identify where the deal has risk before you commit.

Start with a free deal assessment at regaliscapital.com.