Retail · NAICS 447110

Convenience Store / Gas Station Valuation Multiples (2026)

C-store + gas station valuations live or die on real estate and inside-sales mix. Owned real estate with strong inside-sales lifts the multiple to 0.25× revenue and 4.5× EBITDA.

SDE multiple
2.5×
2–3.2×
EBITDA multiple
3.5×
2.8–4.5×
Revenue multiple
0.15×
0.1–0.25×

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Industry: Convenience Store / Gas Station · Retail

Premium drivers

  • ↑Real estate included in deal
  • ↑High inside-sales mix (food, lottery, beer)
  • ↑Branded fuel supply contract
  • ↑Multi-store portfolio

Discount drivers

  • ↓Real estate not included
  • ↓Aging tanks / EPA exposure
  • ↓Single-fuel-only revenue
  • ↓Lease near expiration

Who buys convenience store / gas station?

C-store chain, PE-backed convenience platform, or jobber / fuel distributor

Typical timeline + revenue band

  • Days to close: 90–180
  • Revenue band these multiples apply to: $1.00M–$5.00M
  • NAICS: 447110 (Retail)

5 levers that lift your Convenience Store / Gas Station multiple by 30-50%

  1. 1
    Lock in recurring revenue
    Convert the top of your convenience store / gas station revenue stack into multi-year contracts, retainers, or auto-renewing subscriptions. Buyers pay 25-40% more for revenue they don't have to re-win every quarter.
  2. 2
    De-risk customer concentration
    Aim for no single customer above 15% of revenue. If you have a > 25% client, get them on a multi-year master services agreement before going to market.
  3. 3
    Document the business out of the owner
    C-store chain, PE-backed convenience platform, or jobber / fuel distributor will discount aggressively for any function that lives in the owner's head — sales, key vendor relationships, pricing, hiring. Run the next 90 days like the owner is on a 6-week vacation.
  4. 4
    Clean up the financials
    Get a Quality of Earnings-ready trailing 12 months: GAAP-aligned, owner add-backs documented, no commingled personal expenses. This alone moves the multiple 0.5-1.0× upward in this category.
  5. 5
    Match the deal to the right buyer pool
    PE-backed roll-ups, strategic acquirers, and ETA buyers compete on different terms. List with someone who has run a process for convenience store / gas station acquisitions — generic SMB brokers will leave 20%+ on the table.
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FAQ — Convenience Store / Gas Station valuations

What's a typical convenience store / gas station valuation multiple?▾

Typical convenience store / gas station valuations land near 2.5× SDE, 3.5× EBITDA, or 0.15× revenue. Strong operators reach 3.2× SDE / 4.5× EBITDA / 0.25× revenue, while weaker operators stay closer to 2× SDE / 2.8× EBITDA / 0.1× revenue.

How long does it take to sell a convenience store / gas station?▾

Most convenience store / gas station deals close in 90–180 days from listing. Strong operators with clean financials and a documented buyer pool close on the lower end.

Who buys a convenience store / gas station business?▾

C-store chain, PE-backed convenience platform, or jobber / fuel distributor

What pushes a convenience store / gas station valuation to the high end?▾

Real estate included in deal. High inside-sales mix (food, lottery, beer). Branded fuel supply contract. Multi-store portfolio.

What forces a discount when selling a convenience store / gas station?▾

Real estate not included. Aging tanks / EPA exposure. Single-fuel-only revenue. Lease near expiration.

Other Retail categories

Franchise Restaurant
2.5× SDE · 3.5× EBITDA
Independent Restaurant
1.8× SDE · 2.8× EBITDA
Specialty Retail
2× SDE · 3× EBITDA
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