76

76 C-stores for sale.

What a 76-branded C-store and C-store actually trades for, how the brand supply contract drives value, and how to buy or sell one.

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Key takeaways
  • National C-store cap rates average about 5.6%, near 5.58% with fuel income and 6.87% without it, with branded fuel sites like 76 generally pricing inside the broader market.
  • A 76 site carries a Phillips 66 family supply agreement plus image and canopy standards that transfer with the sale and must be diligenced alongside the real estate.
  • Florida is the tightest state market near 5.11%, Texas runs about 5.63%, the Carolinas 5.0% to 5.5%, and Tennessee 5.4% to 5.75%; weaker markets sit at 6.0% to 6.5% or higher.
  • Combined business-plus-real-estate deals trade around 8x EBITDA in average markets and 7x to 9x in premium ones; business-only multiples run 2.5x to 4.0x EBITDA.
  • SBA 7(a) financing tops out at $5M with a 15% minimum equity injection for special-purpose fuel sites, and a Phase I ESA at $1,800 to $3,500 is required on SBA fuel deals.

A 76 C-store is a branded fuel site running on a Phillips 66 family supply agreement, so buying or selling one is partly a real estate trade and partly a fuel-brand transaction. The 76 image, canopy standards, and term commitments travel with the deal, and a buyer is underwriting both the dirt and the contract. Branded sites like 76 generally price tighter than unbranded stores because the brand draws traffic and lends credit support to the fuel income. National C-store cap rates run about 5.6%, roughly 5.58% with fuel income and 6.87% without it. Where a specific 76 site lands depends on lease structure, location, fuel volume, and the strength of the C-store. This page covers what a 76 deal involves and how to move on one.

What a 76 C-Store Deal Involves

A 76 station is a branded fuel asset, which means a buyer is acquiring three things at once: the real estate, the C-store business, and the fuel supply relationship. The 76 brand sits in the Phillips 66 family, so the site operates under a branded supply agreement that sets minimum gallon commitments, image standards, and a remaining term. That contract is a core value driver, not a footnote.

Deals come in different shapes. Some are absolute net leased to a credit operator, which trade closest to the tightest cap rates. Others are owner-operator businesses sold with the real estate, where the buyer steps into running the store. Confirm early which structure you are buying. Our buyer representation team and the branded C-store listings are the right starting points.

Fuel Supply, Branding, and Image Obligations

The 76 brand carries obligations that survive the sale. A branded supply agreement typically locks in a minimum volume, a remaining term, and image standards covering the canopy, dispensers, signage, and store appearance. A new owner usually has to be approved by the brand and may inherit required image upgrades. Price those costs before you sign.

This is the central difference between branded and unbranded ownership. Branded fuel like 76 draws built-in traffic and lends credit support to the income, which is why these sites generally price tighter than independents. The tradeoff is less pricing freedom and ongoing compliance spending. Our guides on the jobber fuel supply agreement and branded versus unbranded stations break down exactly what transfers and what it costs.

Who Buys 76 C-Stores

Three buyer types compete for 76 sites. Passive investors want a net leased 76 with a credit tenant and a long term, often as a 1031 replacement, and they price almost entirely off the cap rate and lease quality. Owner-operators and existing multi-store operators buy for cash flow and want a strong C-store, since the store is about 30% of revenue but around 70% of profit. Regional consolidators buy portfolios to gain scale and fuel-purchasing leverage.

The buyer pool sets the price. A clean net leased 76 in a tight state draws national investor demand, while an owner-operator deal draws local operators using SBA financing. Knowing which buyer fits your asset shapes how it should be marketed. See who buys C-stores and our NNN C-store listings.

How 76 Stations Are Valued and Priced

Two methods set the number. Income-producing net leased 76 sites are valued on cap rate. National C-store cap rates run about 5.6%, near 5.58% with fuel income and 6.87% without it. State matters: Florida is tightest near 5.11%, Texas about 5.63%, the Carolinas 5.0% to 5.5%, Tennessee 5.4% to 5.75%, and weaker markets 6.0% to 6.5% or more. For reference, top branded names like Wawa price 4.83% to 5.20% and Circle K 5.35% to 5.65%, so a 76 typically falls inside this branded band depending on the operator and lease.

Owner-operator 76 deals use EBITDA multiples instead. Combined business-plus-real-estate sales run around 8x EBITDA, 7x to 9x in premium markets, while business-only deals run 2.5x to 4.0x. Run the math with our cap rate calculator and valuation calculator.

How to Buy a 76 C-Store

Start with financing, since it sets your price range and timeline. SBA 7(a) loans cap at $5M and require a 15% minimum equity injection on special-purpose fuel sites, with real estate terms up to 25 years and June 2026 rates around 9% to 11.5% APR variable. Conventional financing usually needs 30% to 40% down, and many banks avoid underground storage tanks due to CERCLA liability. SBA closings run 30 to 90 days, conventional 30 to 60.

Diligence on a 76 must cover the fuel supply agreement, image-upgrade obligations, and the tanks. A Phase I ESA at $1,800 to $3,500 is required on SBA fuel deals. Work through our due diligence checklist and financing options before you make an offer.

How to Sell a 76 C-Store

Selling a 76 starts with positioning the asset to the right buyer pool. A net leased 76 with strong fuel volume and a long supply term should be marketed to investors on its cap rate. An owner-operator 76 should be packaged with clean financials showing the C-store contribution, since that profit drives the multiple. Confirm the supply agreement term and any pending image requirements up front, because both affect what a buyer will pay.

Most station sales take 3 to 6 months. Broker commissions run 10% to 20% on business-only deals and about 6% to 10% when real estate is included. For a stronger outcome, owners with surplus capital tied up in the real estate can also weigh a sale-leaseback. Start with our seller representation team to position the asset.

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76 buyer memo

How 76 changes the deal.

A 76 C-store is not priced only on square footage or gallons. Buyers also underwrite brand control, supply assignment, image obligations, tenant credit, and how the canopy affects repeat traffic.

Demand signal

West Coast and highway fuel identity is the first reason this page deserves its own buyer conversation instead of being folded into a generic branded-station page.

Contract signal

jobber supply and image obligations changes how a buyer reads the fuel supply agreement, assignment rights, image requirements, and post-closing capital needs.

Buyer signal

operator upside through inside sales affects who should see the deal first: owner-operators, jobbers, private buyers, institutional NNN investors, or 1031 exchange buyers.

For a 76 sale or acquisition, C-Store Trader compares the brand against alternatives like Shell, 7-Eleven, Circle K, and Valero, then checks whether the value is coming from the real estate, the operating business, the lease, or the fuel contract.

FAQ

76 stations: common questions

A 76 site generally prices inside the branded fuel band. National C-store cap rates average about 5.6%, roughly 5.58% with fuel income and 6.87% without it. Branded names range from Wawa at 4.83% to 5.20% up to Circle K at 5.35% to 5.65%. The exact rate depends on the lease structure, location, fuel volume, and operator strength. Florida prices tightest near 5.11% and weaker markets run 6.0% to 6.5% or higher.
Yes. A 76 site runs on a Phillips 66 family branded supply agreement with a minimum volume commitment, a remaining term, and image standards. That agreement transfers with the sale, and the new owner usually needs brand approval and may inherit required image upgrades. Diligence the contract and any upgrade costs before closing. See our jobber fuel supply agreement guide.
It varies widely by site. A small-to-medium station owner often nets about $70K to $100K a year, and stronger or larger sites can reach $100K to $500K. The C-store drives most of the profit, around 70% of it, even though it is only about 30% of revenue. Fuel itself nets only a few cents per gallon after costs despite 2025 gross fuel margins averaging 40-plus cents per gallon.
Yes. SBA 7(a) loans cap at $5M and require a 15% minimum equity injection for special-purpose fuel sites, so plan on 10% to 15% down. Real estate terms run up to 25 years, with June 2026 rates around 9% to 11.5% APR variable and closings of 30 to 90 days. A Phase I ESA at $1,800 to $3,500 is required on SBA fuel deals. See our SBA 7(a) loan guide.
A net leased 76 can work well as a 1031 replacement, especially an absolute NNN site with a 15 to 20 year term and a credit operator. Remember the exchange deadlines: 45 calendar days to identify and 180 days to close from your sale closing. Use our 1031 exchange deadline calculator and review the NNN C-store investing guide to size up candidates.
C-store operator lens

76 through the C-store operations lens.

This page is evaluated through the convenience-store business first: inside sales, category margins, inventory turns, staffing, customer repeat behavior, lease control, and how the store creates profit beyond the fuel canopy. For branded C-stores, the brand attracts traffic, but the store P&L decides durable value.

Pricing discipline

Convenience pricing, promotional discipline, and local basket size can matter as much as fuel price when the store is the real profit center.

Inside sales mix

Ask for POS category reports by month, not only annual revenue. Tobacco, beer, packaged drinks, lottery, grocery, prepared food, and ATM income each carry different margins and buyer value.

Category margin quality

The store can be a larger profit driver than fuel. A buyer should separate high-margin convenience categories from pass-through or low-margin volume before applying a multiple.

Inventory and shrink controls

Inventory turns, cash handling, lottery controls, tobacco counts, and employee shrink policies can change EBITDA more than a headline traffic count.

For C-store deals, the highest-value diligence usually lives in the POS reports, category sales, shrink controls, vendor terms, beer and tobacco mix, prepared-food potential, lottery contribution, and local customer pattern. This brand page is intentionally written for owners, operators, and buyers who care about the in-store profit engine, so it should be evaluated on the specific commercial questions it answers, not only on broad national search terms.

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76 vertical read

76 through C-Store Trader's lane.

76 matters to a C-store buyer because the flag can bring traffic, but the store earns its premium through basket size, repeat local customers, category margin, and manager execution.

A 76 C-store should be reviewed by department. Tobacco, beer, packaged beverages, grocery, prepared food, lottery, and ATM income tell a buyer whether the store is merely attached to a fuel canopy or actually producing durable inside profit.

For sellers, the best package pairs the 76 supply and image documents with POS reports, inventory controls, payroll, vendor terms, lease or deed records, and a clear handoff plan for licenses and employees.

That is why C-Store Trader treats 76 as a convenience retail page, not only a branded fuel page. The brand starts the conversation, but store-level execution defends the price.

Decision checklist

What makes 76 a real diligence page.

This brand page is strongest when it helps a visitor decide what to do with a real convenience-store asset. The checklist below keeps the page tied to C-store economics: POS reports, category margin, inventory control, licenses, staffing, lease control, and local customer behavior.

Category margin quality proof

Ask for evidence. The store can be a larger profit driver than fuel. A buyer should separate high-margin convenience categories from pass-through or low-margin volume before applying a multiple. For 76, do not treat this as generic background; make it part of the buyer, seller, lender, or investor checklist.

Inside sales mix proof

Ask for evidence. Ask for POS category reports by month, not only annual revenue. Tobacco, beer, packaged drinks, lottery, grocery, prepared food, and ATM income each carry different margins and buyer value. For 76, do not treat this as generic background; make it part of the buyer, seller, lender, or investor checklist.

Foodservice upside proof

Ask for evidence. Prepared food, coffee, fountain, grab-and-go, and quick-serve opportunities can create a second growth story if equipment, staffing, and local demand support it. For 76, do not treat this as generic background; make it part of the buyer, seller, lender, or investor checklist.

Inventory and shrink controls proof

Ask for evidence. Inventory turns, cash handling, lottery controls, tobacco counts, and employee shrink policies can change EBITDA more than a headline traffic count. For 76, do not treat this as generic background; make it part of the buyer, seller, lender, or investor checklist.

Lease and real-estate control proof

Ask for evidence. A C-store with real estate, options, rent control, and expansion room underwrites differently from a business-only deal on a short lease. For 76, do not treat this as generic background; make it part of the buyer, seller, lender, or investor checklist.

For C-Store Trader, the indexed value of the page should come from how well it answers the store-operator question: what would a serious owner, buyer, or broker verify before committing capital?

76 transfer notes

The questions that make a 76 page index-worthy.

C-Store Trader treats 76 as a convenience-store operating question first.

Inside-sales defense

76 can create traffic, but a C-store buyer still needs POS proof by department, basket size, lottery, tobacco, beer, grocery, foodservice, and ATM contribution.

Operator transfer

A seller should document manager coverage, employee retention, vendor accounts, licenses, inventory count process, and daily controls so a buyer can run the 76 store after closing.

Image vs. store profit

Brand image requirements matter, but the premium is defended by store margin, cleanliness, repeat customers, and neighborhood loyalty.

Buyer lead quality

A qualified 76 C-store lead should know whether they want the real estate, the business, or both, and how much working capital they can support.

Lead qualification

What a serious 76 inquiry should include.

C-Store Trader should turn 76 traffic into C-store leads with enough detail to underwrite the store, not just a name and phone number. A useful inquiry explains the asset, the operating proof, and the decision timeline.

Asset snapshot

Share whether this is a single store, portfolio, brand page, market search, guide question, or tool output. Include real estate versus leasehold, store size, inside sales, fuel relationship, licenses, and whether inventory is included.

Operating proof

The strongest C-store lead can provide POS category reports, gross margin, payroll, rent, bank deposits, vendor terms, inventory practices, and notes on manager coverage or owner involvement.

Decision path

Clarify whether the goal is to buy, sell, value, refinance, or prepare for a 1031 or sale-leaseback. Include price range, financing capacity, timing, geography, and whether confidentiality is required.

For this brand page, a high-quality lead is one where the store economics, transferability, and next action are clear enough for a broker or principal to respond intelligently.

76 lead screen

How C-Store Trader qualifies 76 interest.

A 76 C-store inquiry should not stop at the flag. The strongest lead explains how the store performs inside the box and whether the brand relationship helps repeat customers become repeat baskets.

Store fit

Is the 76 location a neighborhood convenience store, commuter stop, travel corridor asset, or portfolio store? The answer changes category expectations, labor coverage, and buyer appetite.

Profit center

How much value comes from tobacco, beer, beverages, foodservice, lottery, ATM, grocery, and other inside categories rather than the brand alone?

Transfer screen

Can the buyer keep licenses, employees, vendor terms, inventory systems, lease control, and the customer experience intact after closing?

Institutional guidance

Before you act on 76 C-Stores for Sale & Cap Rates, talk with a sector broker.

C-Store Trader is built to turn brand interest into a real next step: valuation, buyer match, lending path, diligence package, or confidential sale strategy. Eagle Nest Property Group works across owners, operators, 1031 buyers, and private capital in convenience retail.

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