A gas station and car wash in Lakewood have been listed for sale at a price of $4.9 million. The property, which spans over 4,110 square feet and includes two units, is fully occupied with a multi-tenant setup and features an absolute NNN lease type.
Originally built in 1971 and renovated in 2020, the site covers 1.12 acres and is zoned for mixed-use general suburban commercial activity. It is strategically located on S Kipling Parkway, which sees over 41,000 vehicles per day. This location is positioned in a supply-constrained area, making it a rare dual-parcel redevelopment opportunity.
Recent local regulations have created a barrier to entry for new gas stations and car washes within half a mile, potentially increasing the long-term value of existing facilities like this one.
Source: Property Listing