William D. McKnight Of Automated Petroleum Acquires Five Gas Stations From Tropic Oil Company For $20M
10550 Northwest 112th Avenue, 4941 Southwest 8th Street, 5750 Northwest 107th Avenue, 8800 Southwest 24th Street & 9691 Southwest 72nd Street
$20,000,000
$575/SF
Building Size
34,770 SF
Asset Type
Retail
Closing
Nov 6, 2026
About this deal
AI
The transaction involved the sale of five gas stations located at 10550 Northwest 112th Avenue, 4941 Southwest 8th Street, 5750 Northwest 107th Avenue, 8800 Southwest 24th Street, and 9691 Southwest 72nd Street within the markets of Medley, Miami, and Doral, FL. The asset type is retail with a total square footage of 34,770. The sale was completed for a total price of $20,000,000, resulting in a price per square foot of $575.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $20,000,000
- Buyer: William D. McKnight - Automated Petroleum
- Seller: George E. LeVasser - Tropic Oil Company
- Lender: Citizens Bank
- Mortgage Amount: $16,000,000
- Sale Date: 11/06/2026
Tropic Oil Company sold the gas stations to Catfish Real Estate LLC in a single-deed transaction that includes an agreement for Tropic Oil to supply fuel to the stations for a minimum of 15 years. Additionally, the agreement grants Tropic Oil a 30-day right of first refusal if the buyer intends to sell any of the properties in the future.
On the Map
$20,000,000
$575/SF
Retail
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Players
Chaptico Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93