Gas Station With Property In Milledgeville, GA For Sale

Description

New ExtraMile convenience store and Chevron gas station development for sale with real estate included.

The project includes an approximately 3,600 sq. ft. store on a 1.10-acre corner parcel with four multi-product fuel dispensers.

The asking price is $4,990,000 for the completed store, gas station and property. The buyer is responsible for initial inventory.

Projected sales

• Inside sales: approximately $187,000 to $201,000 per month
• Fuel volume: approximately 164,000 to 186,000 gallons per month

These figures are based on a feasibility study and represent projections rather than current operating results.

ExtraMile franchise terms

• 10-year franchise agreement
• 6% royalty on the first $100,000 of monthly inside sales
• No royalty reported on inside sales above $100,000 per month
• Training and field support
• Inventory management system
• Marketing materials
• Loyalty program integration

Fuel agreement

• Chevron fuel brand
• Majors Management as jobber
• 10-year supply agreement
• Rack plus $0.01 pricing structure
• Reported $0.03 per gallon rebate

The planned store layout includes a kitchen, gaming room, beer cave and walk-in cooler.

No COAM contract is currently in place, and the buyer may select the master licensee, subject to applicable Georgia gaming requirements.

The development is located approximately half a mile from Lake Sinclair with access to traffic associated with the lake, marina, boats and RVs.

The seller reports approximately 23,400 vehicles per day at the intersection.

The feasibility study identifies estimated retail supply gaps of approximately $2.276 million for gas stations within one mile and $7.651 million within three miles. Estimated food service gaps are approximately $1.163 million within one mile and $7.176 million within three miles.

The surrounding market includes Georgia College & State University, with reported enrollment of approximately 7,304 students, and median household income of about $72,220 within five miles.

The property is reported to be located in an Opportunity Zone.

Required down payment is approximately $450,000.

The seller previously projected completion and certificate of occupancy for May. Buyers should verify the current construction status, completion date and certificate of occupancy before proceeding.