RaceTrac has purchased the 47,000-square-foot Capital One Bank branch on the corner of Coursey and South Sherwood Forest boulevards for $1.55 million. The price comes out to $33 per square foot.
The company plans to demolish the bank building and build a convenience store in the 200-foot by 235-foot property that has access to both major thoroughfares.
“This is a very high visibility corner with excellent traffic counts,” says Mark Hebert with Kurz & Hebert Commercial Real Estate. “RaceTrac has developed a new smaller, more modern prototype for these high visibility corners. They have another location in close proximity, but this location will serve a different traffic pattern.”
The sale closed Monday, and demolition of the bank branch is expected to begin early in 2016.
