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.
Appraiser Tom Cook owns Cook Moore and Associates. Reach him at (225) 293-7006 or TCook@cookmoore.com.
