Just got a gas / convenience store under contract - help!

[Jack Tucker]

College town of Athens GA

Same side of the road and around the corner from a large trailer park.

A good bit of development coming into this corridor.
Healthy and growing traffic count Owner wants to retire but willing to continue operating and pay rent back for 1 year at $5k/month.

Plus 2 other separate spaces that could be rented out for 1000-1500/month extra.

Price includes business plus real property

Was listed for $1.2 Million in 2006.

Independently appraised in 2013 for $725k Real estate is tax assessed at $550k. Typically the assessed value is way under
Under contract and in diligence.

2 acres of commercial general, with only 1 acre being used.

Not sure if this is a good deal or not.

Do you know anything about these?

With whom should I talk ?

Thanks,

Jack