Turnkey Convenience Store and Gas
For Sale
$765,000
219 Fordtown Rd, Fall Branch, TN 37656
Turnkey store includes a gas station, on-site deli, and an upstairs 4-bedroom apartment with an active renter.
Property Size3,960 SF
Price / SF$193.18
Days on Market140
Property Features for 219 Fordtown Rd
General Information
Standard status
Active
Size
3,960 SF
Additional Details
Business Included
Yes
Multifamily Units
1
Listing Agency:
Hurd Realty, LLC
(423) 676-7941
Listed By:
Lynne Jones · License #343217
(423) 676-7941
Source:
Exprealty
Added: Mar 30
Changed: Aug 14
Last Checked: Aug 15 at 11:47AM
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 Hurd Realty, LLC
Investment Insights
Based on property information with market context.
This for-sale property is a turn-key convenience store and gas station operation with an on-site deli known as “Munchies.” The listing notes that the equipment is in place and ready for new ownership to take over operations. The property also includes a spacious upstairs apartment with four bedrooms and two bathrooms, and there is already a renter in place.
The seller describes the business as a balanced operation serving gas, convenience store items, and prepared food through the deli/restaurant component. Realtor financials are available for review by request, and the listing agent must accompany buyers for tours.
For buyers, it is important to note that the purchase of the store does not include stock or merchandise. Stock may be purchased for an additional cost. Buyers must apply for, be approved for, and assume the existing fuel supply agreement with the current supplier, and the buyer must purchase existing fuel at closing. The listing also states that all buyers must have proof of funds or pre-approval before submitting an offer, and that the buyer (and buyer’s agent) should verify all information provided.
The seller describes the business as a balanced operation serving gas, convenience store items, and prepared food through the deli/restaurant component. Realtor financials are available for review by request, and the listing agent must accompany buyers for tours.
For buyers, it is important to note that the purchase of the store does not include stock or merchandise. Stock may be purchased for an additional cost. Buyers must apply for, be approved for, and assume the existing fuel supply agreement with the current supplier, and the buyer must purchase existing fuel at closing. The listing also states that all buyers must have proof of funds or pre-approval before submitting an offer, and that the buyer (and buyer’s agent) should verify all information provided.
Key Highlights
- Turnkey convenience store and gas station with an on‑site deli (“Munchies”) and equipment in place
- Includes an upstairs 4‑bedroom, 2‑bath apartment with an active renter in place
- Operating revenue is described as a balance between gas, food store, and restaurant
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
$65,692
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
8.59%
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%
$1,313,840
$1.3M
Cap Rate 7%
$938,457
$938.5K
Cap Rate 9%
$729,911
$729.9K
Market Conditions
NOI Build-Up for 3,960 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
$91.2K $23.04/SF
− Vacancy
−$3.6K −$0.92/SF
EGI
$87.6K $22.12/SF
− OpEx
−$21.9K −$5.53/SF
NOI
$65.7K $16.59/SF
Area
Washington County, TN
Vacancy
4.00%
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%
$1,313,840
Cap Rate 7%
$938,457
Cap Rate 9%
$729,911
Alternative Uses
Best Use
Specialty Retail
$938.5K
$821.2K – $1.09M
NOI $65,692 @ 7.0% cap · market cap 8.59%
Second Best
Retail
$885.0K
$774.4K – $1.03M
NOI $61,951 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $116,899 @ 7.0% cap · market cap 15.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 76%
Dining 24%
Dollar General
Shops & Services
4,611 visits/mo
0.4 miles
Pizza Plus
Dining
1,469 visits/mo
0.4 miles
Demographics for 37656, TN
3,611
Population
1,647
Households
2.2
Avg Household Size
49
Median Age
18%
College-Educated
91%
High-School Grad
29.1 sq mi
ZIP Area
124
Density / Sq Mi
$65,731
Median Household Income
$38,981
Median Earnings
$830
Median Rent
$231,900
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.
Frequently Asked Questions
What type of property is this?
Gas station - Turnkey store includes a gas station, on-site deli, and an upstairs 4-bedroom apartment with an active renter.
Where is this gas station located?
The property is located at 219 Fordtown Rd Fall Branch, TN.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: Turnkey convenience store and gas station with an on‑site deli (“Munchies”) and equipment in place; Includes an upstairs 4‑bedroom, 2‑bath apartment with an active renter in place; Operating revenue is described as a balance between gas, food store, and restaurant
