Doral investors pay $6.4M for gas station near West Miami
Price breaks down to 3.1 million gallons of gas
December 08, 2015 10:30AMBy Sean Stewart-Muniz
The Shell gas station near West Miami
A pair of Doral investors just picked up a gas station near West Miami for $6.4 million.
That’s a lot of gas.
The station, at 8775 West Flagler Street, was first built in 1990 on a 0.94-acre lot. It’s surrounded by apartment complexes and commercial buildings, according to Miami-Dade County property records.
Mabor Realty & Finance Company, managed by Maurice and Adriana Borysowski, had purchased the station for $3.775 million in December 2006. After holding onto the property for nearly nine years, the two have offloaded the property for $2.6 million more than what they paid to acquire it.
The buyer is a limited liability company named Corocito, which lists Jose and Teresita Marante as its managing members.
Records show the two have not taken out any financing for the deal. Considering Tuesday’s average price of regular gas at $2.057 per gallon in Florida, according to AAA, they paid the equivalent of 3.1 million gallons of gas.
Gas stations are becoming a hot commodity in Miami: developers in Miami Beach, for instance, have been buying them as possible sites for future projects. Even One Thousand Museum, the upcoming Zaha Hadid Architects-designed mega tower in downtown Miami is being built on the site of a former gas station.
Source: The Real Deal