Arizona Buyer Acquires Ocala Gas Station For $3.7M Through 1031 Exchange

A newly constructed gas station and convenience store in Ocala, Central Florida, has been sold for $3.7 million. The property, located at 8300 Southwest 100th Street, encompasses 2.3 acres and offers 6,119 square feet of space. The transaction was facilitated by Patrick Nutt and William Wamble of SRS Real Estate Partners. The sale price equates to $605 per square foot, and the asset features a 20-year lease with Wawa.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $3,700,000
• SF: 6,119
• Address: 8300 Southwest 100th Street
• Market: Ocala
• Brokers: Patrick Nutt & William Wamble - SRS Real Estate Partners
• Buyer: Undisclosed, based in Arizona
• Seller: Unnamed Florida-based development firm

The sale of this property was part of a 1031 exchange, with the buyer from Arizona acquiring the gas station and convenience store. The seller, a Florida-based development firm, was represented by Patrick Nutt and William Wamble in the transaction. The 20-year lease with Wawa adds further value to the asset, making it an attractive investment opportunity in the Ocala market.