RaceTrac purchases Capital One branch for new convenience store

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.