402 Marine Dr - Service Station FOR SALE


Port Angeles, WA 98363
$1,800,000 USD
360-504-3200
402 Marine Dr, Port Angeles, WA for Sale
$1,800,000 USD
Service Station - FOR SALE
1/14
null | Request Cap Rate

402 Marine Dr
Port Angeles, WA 98363


HIGHLIGHTS

  • Real estate and Chevron-branded business convey together
  • Hard corner: 283 ft on Marine Drive, 134 ft on S. Valley Street
  • Four covered fuel positions plus four commercial truck positions
  • Three 12,000-gallon USTs; dispensers replaced 2017-18, roof resealed 2021
  • 314 SF commercial kitchen ready for a deli or QSR program
  • 782 SF storage bay convertible to expanded retail sales floor

OVERVIEW

Chevron-branded gas station and convenience store for sale in Port Angeles - real estate and the operating business convey together. Marine Drive Chevron is a 2,951 SF building on a 0.38-acre (16,756 SF) hard corner at Marine Drive and S. Valley Street, with 283 feet of frontage on Marine Drive and 134 feet on S. Valley. The site sits blocks from the US Highway 101 / SR-117 junction, the Port of Port Angeles, and the downtown waterfront. Offered at $1,500,000 for the real estate plus $300,000 for the business and goodwill, $1,800,000 total. Saleable inventory conveys separately at cost under a bill of sale. IMPROVEMENTS: Four covered fuel positions under canopy plus four uncovered commercial truck fueling positions. Three 12,000-gallon underground storage tanks, operational. 1,705 SF convenience store with walk-in cold storage, beer and wine coolers, ATM, and full interior and exterior camera system. 314 SF commercial kitchen completed at the end of 2016 with hood, fire suppression, and utility sink. 782 SF shop and storage space at 12 foot clear with an 8 to 9 foot roll-up door. 150 SF manager's office. Roof resealed 2021; fuel dispensers replaced 2017-18. UPSIDE: Reactivate the four commercial truck fueling positions, currently offline. Convert the 782 SF storage bay to expanded retail sales floor. Run a deli, hot food, or branded QSR program from the existing commercial kitchen. Ample unstriped surface area for additional parking or site reconfiguration. CA Commercial Arterial zoning permits retail, commercial service, office, lodging, and multifamily on a corner improved to only 18 percent site coverage against an 80 percent allowance. Operating continuously as a fuel station on this corner since 1954. Flood Zone X (shaded). The Chevron-branded fuel supply agreement runs through December 2028 and is assignable to a qualified purchaser. The fuel supplier holds a right of first refusal; any accepted offer is subject to that right. A legacy environmental condition is under active remediation by a prior owner at that party's cost, with a No Further Action determination anticipated. Financial statements and the full diligence package are available to qualified buyers upon execution of a confidentiality agreement. Tours by appointment through the listing broker only.

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$610 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY NAME

Marine Drive Chevron

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Service Station

ADD'L SUBTYPES

Convenience Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1954

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.38 AC

LAND SF

16,756 SF

ZONING

P_CA

APN/PARCEL ID

063000003503

ASK ABOUT THIS PROPERTY

Roderick DirksIdeal Real EstateMore Info
360-504-3200

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Roderick DirksIdeal Real EstateMore Info
360-504-3200

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.