Description

The subject property contains a gross area of 5.3 acres with 2.72 acres of useable area approved by The Army Corps of Engineers Fish & Wildlife and ADEM with Wetlands Mitigation already in place. The property could support a convenience store and center up to 27364 square feet.I have performed a feasibility analysis and concluded that the property could be developed initially with a convenience gas station with a second phase being developed later. The area has no competing quality convenience or gas stores that are operated or constructed to current consumer standards. There is one property which will minimally compete with the subject convenience center due to its location however it is believed that with a new product on the market our site would capture 80% or more of the convenience retail and gas sales market for much of the Fort Morgan corridor especially the area beyond three miles west of Highway 59. This is a 20-mile area with an average vehicle count of 6500 vehicles a day and no competition. Traffic and demand are much higher in the summer months with as many as 30000 visitors being housed on the peninsula and passing by the subject property each day. With additional development of the site in service and goods businesses the property?s capture will increase.Once developed this corner will be the strongest on the Fort Morgan Corridor from the Ferry to 3 miles west of Highway 59. I have surveyed the market and there is an extremely limited number of sites zoned for commercial development and none with a hard corner which is the case with this property being located on the corner of Veterans Drive and Fort Morgan Road with Access on both thoroughfares.

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