San Diego sits inside one of the largest fuel and C-store markets in the country. California has roughly 12,140 convenience stores, second only to Texas, and San Diego County carries a large share of that count across the city core, North County, East County, and the South Bay border crossings. High land basis, dense daytime traffic, and strong in-store sales make well-located San Diego stations some of the most contested assets in the state. Gas Station Trader is the fuel and C-store practice of Eagle Nest Property Group in Dallas, TX, with brokerage through Eagle Nest Brokerage LLC, a licensed Texas broker. We have transacted more than 250 million dollars, and principal Stuart W. Monteith is a D CEO Power Broker for 2025 and 2026. We bring that underwriting discipline to every San Diego buyer and seller we represent. See our California gas stations for sale overview for the statewide picture.
The San Diego gas station market
California holds about 12,140 convenience stores, ranking second nationally behind Texas, and San Diego County is one of the densest pieces of that map. Volume is the story here. A busy urban station does 100,000 to 150,000 gallons per month against a US average of roughly 4,000 gallons per day, and high-traffic San Diego corridors regularly hit the top of that band. The in-store side drives the economics. C-store sales run about 30 percent of revenue but roughly 70 percent of profit, with in-store items carrying 20 to 40 percent margins. Fuel gross margins averaged 40-plus cents per gallon in 2025, though net fuel profit is only a few cents per gallon. For a market-by-market read, see best states to buy a gas station and gas station profit margins.
Buying a gas station in San Diego
San Diego buyers face high land basis, so financing structure decides what pencils. SBA 7(a) caps at 5 million dollars and requires a 15 percent minimum equity injection on special-purpose gas stations, meaning 10 to 15 percent down, with real estate terms up to 25 years and closings in 30 to 90 days. June 2026 SBA rates run roughly 9 to 11.5 percent APR variable. Conventional financing usually wants 30 to 40 percent down, and many banks avoid underground storage tanks because of CERCLA liability, with closings in 30 to 60 days. Every SBA fuel deal needs a Phase I ESA, which costs 1,800 to 3,500 dollars under ASTM E1527-21. Start with our buyer representation, the due diligence checklist, and the valuation calculator.
Selling a gas station in San Diego
Selling in San Diego rewards clean financials and pricing tied to real numbers. A small-to-medium station owner often nets about 70K to 100K dollars per year, ranging to 100K-500K by site, and how that cash flow is documented drives the multiple you can defend. Business-only sales trade at 2.5x to 4.0x EBITDA, combined operations at 4.0x to 7.0x, and deals including the real estate at about 8x. Broker commissions run 10 to 20 percent on business-only deals and roughly 6 to 10 percent when real estate is included. Typical sale timelines are 3 to 6 months. We price, package, and run a confidential process. See how we sell stations, how to increase gas station value, and sale-leaseback options if you own the real estate.
Values and cap rates in California
National gas station cap rates run about 5.6 percent, near 5.58 percent with fuel and 6.87 percent without fuel. Tenant credit moves the number: 7-Eleven trades around 5.00 to 5.40 percent, Circle K 5.35 to 5.65 percent, Murphy USA near 5.13 percent, and Wawa as tight as 4.83 to 5.20 percent. California metros like San Diego, with deep demand and limited supply, price toward the lower end of the range. On the deal-size side, business-only stores move at 2.5x to 4.0x EBITDA, combined at 4.0x to 7.0x, and real-estate-inclusive at about 8x, reaching 7x to 9x in premium markets. Run the math with our cap rate calculator, then review NNN gas stations and what is a good cap rate.
