Buyer guide · Tennessee · Updated October 2026
Buy a gas station in Tennessee
Tennessee is a strong market for gas stations, with major interstates meeting in Nashville, Knoxville, Chattanooga and Memphis and fast growth around Nashville. Here is what buyers should know before making an offer in Tennessee.
The Tennessee market right now
82 gas stations, c-stores and truck stops were listed for sale in Tennessee in our daily index, with a median asking price of $850K. The middle half asked between $339K and $2M, and most included the real estate.
Source: Global Petro Advisors’ daily index of public Tennessee gas station and c-store listings, October 19, 2026 (77 with an asking price; car washes, land, sold and other non-station listings removed). Asking prices, not sale prices. For how stations are actually priced, see how much gas stations sell for.
- I-40, I-24, I-65, I-75, I-81 and I-26 carry heavy freight and travel traffic, so truck stops and exit sites are in steady demand.
- Growth around Nashville and its suburbs pushes prices up; East and West Tennessee stations usually ask less.
- Beer permits are local in Tennessee (see below), so rules can differ from one town to the next.
1. Financing a Tennessee gas station
Most buyers use an SBA loan. An SBA 7(a) loan (up to $5 million) can cover the business, the property, equipment and working capital. An SBA 504 loan is built for the real estate: roughly 50% from the bank, 40% from an SBA-backed lender and 10% from you, often 15% because lenders treat gas stations as special-purpose property. Plan on about 10 to 20% down overall, plus inventory at closing, and have proof of funds ready for your offer.
SBA 7(a) loans ↗SBA 504 loans ↗
Want a lender who already knows stations? See our preferred partners.
2. Tanks and environmental checks in Tennessee
In Tennessee, the Department of Environment and Conservation's Division of Underground Storage Tanks registers and inspects tanks. The Tennessee Petroleum UST Fund can pay eligible cleanup costs above a deductible for owners who keep their tank fees paid.
Ask the seller for the tank registration, inspection and leak-detection records, proof the tank fees are current, tank install dates and any past release with its closure letter. Your lender will order a Phase I either way.
TDEC Division of Underground Storage Tanks ↗EPA underground storage tanks ↗
3. Licenses and permits in Tennessee
Beer permits come from the local beer board in the city or county, not the state, and the new owner applies for their own. Stores that meet the Alcoholic Beverage Commission's food-store rules can also sell wine with a state license. The lottery contract comes from the Tennessee Education Lottery. Plan the transfers early so they don’t hold up closing.
4. Check the numbers and the contracts
Match tax returns to P&Ls, monthly fuel gallons to supplier statements, and inside sales to POS reports. Read the fuel supply agreement for term, gallons owed, assignment rules and any payback of incentives, and if the land is leased, confirm the years left. Our guide on fuel supply contracts explains what to look for.
5. Make an offer and close
Offers go in as a Letter of Intent with price, deposit, a 30 to 60 day due diligence period, financing terms and inventory at cost. Then come the Phase I, lender approval, license transfers, the supplier’s consent, an inventory count and the keys. The full path is in how to buy a business.
Frequently asked questions
How much does a gas station cost in Tennessee?
Who regulates gas station tanks in Tennessee?
Can I use an SBA loan to buy a Tennessee gas station?
Who issues beer permits for a Tennessee gas station?
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Selling instead? See sell my gas station in Tennessee.