Established Liquor Store with Expansion
For Sale
$599,000
10441 Millarden Rd, Woodbury, GA 30293
Turn-key liquor store with real estate and expansion opportunities.
Property Size1,500 SF
Lot Size0.55 Acres
Price / SF$399.33
Days on Market161
Property Features for 10441 Millarden Rd
General Information
Standard status
Active
Size
1,500 SF
Lot size
0.55 Acres
Taxes and HOA fees
Annual Taxes
$1,300
Listing Agency:
Meadows Hale Realty Inc
(706) 810-3581
Listed By:
Julie G'Vitale
(706) 810-3581
Source:
Exprealty
Added: Mar 22
Changed: Aug 21
Last Checked: Aug 28 at 1:32PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Meadows Hale Realty Inc
Investment Insights
Based on property information with market context.
Located at 10441 Millarden Road (GA-85) in Woodbury, Meriwether County, the Woodbury Tobacco & Liquor Store presents an opportunity to acquire a long-established business. The sale includes approximately 0.55 acres of real estate, the business itself, point-of-sale system, goodwill, and approximately $49,000 in inventory. The store has been in operation for over 50 years and holds a full-service liquor license. The property's layout and ample space offer potential for expansion, such as adding a convenience retail section, back-room game machines, or check-cashing services. The store is open six days a week and serves a loyal customer base. The property is positioned along a high-visibility corridor, providing accessibility. Downtown Woodbury is located approximately 5 minutes away. Newnan and LaGrange are both approximately 40 minutes away, offering major retail, medical, and employment centers. Peachtree City is roughly 45 minutes away. Columbus is about 60 minutes away and features Fort Moore and a large regional economy. Hartsfield-Jackson Atlanta International Airport is within approximately 70 minutes, connecting the property to regional and national markets. The property size is 1500 square feet.
Key Highlights
- Seller financing available for a turn‑key business opportunity.
- Long‑established (50+ years) tobacco and liquor store with a loyal customer base.
- Includes real estate (approx. 0.55 acres), business, PoS, goodwill, and inventory (approx. $49,000).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,106
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$482,120
$482.1K
Cap Rate 7%
$344,371
$344.4K
Cap Rate 9%
$267,844
$267.8K
Market Conditions
NOI Build-Up for 1,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$34.6K $23.04/SF
− Vacancy
−$2.4K −$1.61/SF
EGI
$32.1K $21.43/SF
− OpEx
−$8.0K −$5.36/SF
NOI
$24.1K $16.07/SF
Area
Meriwether County, GA
Vacancy
7.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$482,120
Cap Rate 7%
$344,371
Cap Rate 9%
$267,844
Alternative Uses
Best Use
Specialty Retail
$344.4K
$301.3K – $401.8K
NOI $24,106 @ 7.0% cap · market cap 4.02%
Second Best
Retail
$301.4K
$263.7K – $351.6K
NOI $21,098 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$419.3K
$366.9K – $489.2K
NOI $29,352 @ 7.0% cap · market cap 4.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
81
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30293, GA
2,650
Population
1,228
Households
2.2
Avg Household Size
49
Median Age
15%
College-Educated
81%
High-School Grad
75.7 sq mi
ZIP Area
35
Density / Sq Mi
$55,506
Median Household Income
$35,817
Median Earnings
$891
Median Rent
$91,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- ATM (Woodbury Food) — 10966 Millarden Rd, Woodbury, GA 30293
- Ingles Market — 11078 Millarden Rd, Woodbury, GA 30293
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Turn-key liquor store with real estate and expansion opportunities.
Where is this grocery and convenience store located?
The property is located at 10441 Millarden Rd Woodbury, GA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Seller financing available for a turn‑key business opportunity.; Long‑established (50+ years) tobacco and liquor store with a loyal customer base.; Includes real estate (approx. 0.55 acres), business, PoS, goodwill, and inventory (approx. $49,000).
