Marcus & Millichap a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, recently announced the sale of Gaithersburg Citgo| Daytona Auto Care, a 2,506-square foot retail property located in Gaithersburg, Maryland. The property sold for $2,500,000 plus inventory, or $837.99 per square foot.
“The property attracted offers from several buyers,” Zhao said. “It’s not a typical Marcus & Millichap net leased deal. This deal involved real estate and its 35 years of business operation. Ultimately, an investor with a keen interest in auto care was found who enlisted the help of an experienced operator from California to assist with the business operation of the auto care facility. The buyer negotiated strategic termination of the property’s current fuel supply agreement as a contingency to close.” The property is located at 401-409 E Diamond Av. in Gaithersburg and includes Gaithersburg Citgo gas station and Daytona Auto Care LTD, which have been in business for more than 35 years.
Dany Zhao, an investment specialist in Marcus & Millichap’s Washington, D.C. office, had the exclusive listing to market the property on behalf of the seller, Taris Investment LLC and Daytona Auto Care, LTD. The buyer, Beroya LLC and East Diamond, LLC, was also secured and represented by Zhao.