Evansville sits at the corner of Indiana, Illinois, and Kentucky, which makes it a natural convenience and fuel market drawing traffic from 3 states. Indiana itself runs roughly 4,710 C-stores, and the Tri-State trade area around Evansville carries highway, river-port, and dense in-town corridors that support a wide mix of branded, unbranded, and food-forward sites. We are C-Store Trader, the fuel and C-store practice of Eagle Nest Property Group in Dallas, Texas, with brokerage through Eagle Nest Brokerage LLC, a licensed Texas broker. We have transacted more than 250 million dollars and bring national buyer demand, real underwriting, and clean process to every Evansville assignment, whether you are acquiring your first store or exiting a portfolio.
The Evansville C-Store Market
Evansville is southwest Indiana's largest city and the anchor of a Tri-State region spanning Indiana, Illinois, and Kentucky. That cross-border position feeds steady commuter and interstate volume into local fuel sites. Indiana runs roughly 4,710 convenience stores statewide, and nationally about 60 percent of C-stores are single-store operators, so the Evansville inventory skews toward independents and small chains rather than corporate fleets.
The US average station moves roughly 4,000 gallons per day, while a busy urban site can do 100,000 to 150,000 gallons per month. Inside the store, C-store sales drive about 70 percent of profit on roughly 30 percent of revenue, which is why food and merchandise programs matter as much as the pumps. Start with our Indiana C-stores for sale overview to see how Evansville fits the state picture.
Buying a C-Store in Evansville
Most Evansville buyers finance with an SBA 7(a) loan, which caps at 5 million dollars. Special-purpose C-stores require a 15 percent minimum equity injection, meaning 10 to 15 percent down, with real estate terms up to 25 years and closings in 30 to 90 days. As of June 2026, SBA rates run roughly 9 to 11.5 percent APR variable. Conventional financing is an option too, though many banks avoid underground storage tanks due to CERCLA liability, and conventional deals need 30 to 40 percent down.
Every SBA fuel deal requires a Phase I ESA under ASTM E1527-21, costing 1,800 to 3,500 dollars. We help buyers underwrite throughput, in-store margins, and tank condition before you commit. See our buyer representation and run numbers with the valuation calculator, then review the due diligence checklist.
Selling a C-Store in Evansville
Selling an Evansville station well starts with positioning the asset for the right buyer pool. Owner-operators looking for income value verified financials and clean tank records, while 1031 and passive buyers want net-leased structures. A small-to-medium station owner often nets roughly 70,000 to 100,000 dollars per year, rising to 100,000 to 500,000 by site, and that documented cash flow is what drives your multiple.
Typical sale timelines run 3 to 6 months. Business broker commissions run 10 to 20 percent on business-only deals and roughly 6 to 10 percent on real-estate-inclusive transactions. If you own the dirt, a sale-leaseback can separate the real estate from operations and raise total proceeds. Start with our seller services and explore exit timing in our exit planning guide.
Values and Cap Rates in Indiana
Indiana falls into the weaker-market cap rate band of roughly 6.0 to 6.5 percent or higher, above the national average near 5.6 percent. That spread reflects tenant credit, location, and lease structure. For comparison, the tightest national fuel cap rates sit around 5.11 percent in Florida, and branded credit such as 7-Eleven trades at 5.00 to 5.40 percent. Stronger credit and a longer net lease compress the cap rate and lift value in Evansville.
On multiples, C-stores sold with real estate trade near 8x EBITDA, ranging 7x to 9x in premium markets, while business-only deals run 2.5x to 4.0x EBITDA and combined operations land 4.0x to 7.0x. Price your site with the cap rate calculator and read our guide to a good C-store cap rate.
