BP Station in Boca Raton sells to affiliate of First Monetary Capital – South Florida Enterprise Journal – South Florida Enterprise Journal

A BP fuel station and automotive wash in Boca Raton bought for $13.63 million in one other signal of quickly growing actual property values throughout the area.
A.M.Ok. Petroleum Enterprises, managed by Kleopas Kleopa in Boca Raton, bought the 6,003-square-foot service station at 801 W. Yamato Street to RJ Petroleum Properties V LLC, managed by Michael Saei and Roxanne Schau of West Hollywood, California-based First Monetary Capital. Los Angeles-based Financial institution of Hope supplied a $10.89 million mortgage to the client.
First Monetary Capital is a direct lender that helps shoppers buy service stations and hospitality properties by structuring business bridge loans, based on its web site.
The service station was developed on the 1.55-acre website in 1998, when fuel costs within the U.S. averaged $1.06 a gallon. That is the primary time it has bought.
The Palm Seaside County Property Appraiser not too long ago valued the property at $3.6 million, so this much-higher gross sales worth displays the surge in actual property values in South Florida over the previous 12 months.
This fuel station is on the northwest nook of Congress Avenue and Yamato Street, simply off Interstate 95 and close to one of many largest workplace parks in South Florida.
RJ Petroleum additionally owns two fuel stations in West Palm Seaside.
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