Cost Guide For Fuel Storage Tanks/pumps

[Damon Pedersen]

Hello all..

I am working on a gas station appraisal.

Wondering if anyone has cost info or knows of a good cost source for fuel tanks (underground). Mine has two 10,000 gallon tanks, one 8,000 gallon tank, and one 4,000 gallon tank. Fueling area has two stations, each dispensing three types of fuel per side.

Thanks for your help as always.

 

[Pamela Crowley (Florida)]

Damon,

I'm moving this question to the Commercial / Industrial Section while leaving a link to it here in the Urgent Section. I think many of our commercial appraiser forumites look in the Commercial section most often.

 

[Joker]

Damon,
I have found Marshall and Swift to be very accurate in the cost of petroleum related components. If you have never appraised a fuel mart before, get some assistance from someone who has done several of them.

If you cannot find someone there to help you, send me a pm and I will help you as best as I can. I have done quite a few of them.

 

[Damon Pedersen]

I have completed appraisals on gas stations before and I have costs on file from new stations from a couple years ago, but with the cost of steel increasing so much I was wondering if I am still in line.

One supplier of tanks is telling me current cost is running $1 per gallon including installation but does not include tank monitoring equipment or any special aggregate that state laws may require (all states probably have different specs on that).

He also tells me canopy range in the $25 per square foot range. A standard pumping station that dispenses two types of fuel per side and accepts credit cards is running about $25,000. (This can be broken down per nozzel and per dispenser also if any one needs any info.)

Just wanting to check if anyone has any current costs so I can check if mine are in line. I prefer to get cost estimates from more than one source.

 

[George Hatch]

That's pretty much in line with the info in the books, and I've found the books to pretty much dead on in comparison with construction contracts for new gas stations.

 

[Mark Sweitzer]

I had to do an appraisal on a brand new convenience store two years ago. This is in north central Florida--specifically, Starke. The information I was told by the owner of the property was that the gas pumps cost $10,000 each for eight pumps. There was a 20,000 and a 10,000 tank (fiberglass) that cost a dollar per gallon for the tanks themselves. It supposedly cost $115,000 to install the tanks--excavation, lines, valves, connections and computer wiring to the station.

This data was corroborated as being "in the ball park" by the owners of two separate local chains. One chain owns about 25 stores, the other about 70 stores in a 10 to 12 county region. If you have anyone like that, that would be a good backup source. Of course, it is easier to obtain information first, then go to them and say "this is right...Right?" than to ask up front. But, that is my methodology.

Happy hunting.

 

[Terrel L. Shields]

don't forget the leak detection system or monitoring well