The station at 1700 Ashland Road.
Low gas prices haven’t put a damper on deals for local gas stations.
A Washington, D.C.-based buyer last month purchased the 3.6-acre Fas Mart gas station property at 1700 Ashland Road for $1.83 million. Josh Ein, a broker at Marcus & Millichap, said he and colleague Dean Zang handled the deal on behalf of the seller.
It’s the latest in dozens of area gas stations to sell in recent months, most of which have each fetched seven-figure price tags.
The Goochland Fas Mart is 22 years into a 40-year ground lease at the property, which was previously owned by John and Kathryne Zehler, according to Goochland County records. The buyer was Richmond HF LLC, which Ein said is a D.C.-based company that bought the site as part of a 1031 exchange – a process that allows buyers to reinvest proceeds from a previous real estate deal without tax consequences. Records for the LLC lead to a residential home in the Washington area.
Ein said there are no immediate plans for the property, which was most recently assessed at $1.3 million.
As for Marcus & Millchap, Ein said the brokerage recently opened a temporary office in Henrico as it searches for a long-term home in the market.
The station at 1700 Ashland Road.
Low gas prices haven’t put a damper on deals for local gas stations.
A Washington, D.C.-based buyer last month purchased the 3.6-acre Fas Mart gas station property at 1700 Ashland Road for $1.83 million. Josh Ein, a broker at Marcus & Millichap, said he and colleague Dean Zang handled the deal on behalf of the seller.
It’s the latest in dozens of area gas stations to sell in recent months, most of which have each fetched seven-figure price tags.
The Goochland Fas Mart is 22 years into a 40-year ground lease at the property, which was previously owned by John and Kathryne Zehler, according to Goochland County records. The buyer was Richmond HF LLC, which Ein said is a D.C.-based company that bought the site as part of a 1031 exchange – a process that allows buyers to reinvest proceeds from a previous real estate deal without tax consequences. Records for the LLC lead to a residential home in the Washington area.
Ein said there are no immediate plans for the property, which was most recently assessed at $1.3 million.
As for Marcus & Millchap, Ein said the brokerage recently opened a temporary office in Henrico as it searches for a long-term home in the market.