7-Eleven at 6348 Collins Avenue in Miami Beach (Google Maps, iStock)
Power Petroleum bought a Miami Beach 7-Eleven with a gas station for $11.25 million, the same amount as the listing price, the brokers said.
The Pompano Beach-based, family owned petroleum supplier bought the property at 6348 Collins Avenue from Ivelise Daily, as trustee of the Sarah D. Brito Revocable Living Trust.
Alejandro D’Alba and Scott Sandelin of Marcus & Millichap in Miami had the listing on behalf of the seller.
The buyer will rebrand it as a Mobil gas station, and the 7-Eleven is now shuttered, D’Alba said.
The 4,370-square-foot retail property includes the convenience store that had been in operation since 2009, according to D’Alba and Sandelin. It had historically high sales as it’s the only gas station-convenience store in this part of North Beach.
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Four South Florida gas stations sell for $15M
Stations were flipped by separate buyer who paid $11M Miami /
2195 Northwest 103rd Street (Google Maps, iStock)
Miami-based Westar Oil Co. sold four branded gas stations for about $11 million and the buyer immediately flipped them for $15 million.
The ultimate buyer of the gas stations is Ernest M. Cherry Jr. and his wife, Carole, of Hampton Falls, New Hampshire, according to records. The deal includes the gas station at 715 Opa-Locka Boulevard near Golden Glades, one at 2195 Northwest 103rd Street in Miami and two Hialeah gas stations, at 790 East 25th Street and 1901 West 4th Avenue.