Saturday , September 24 2022
office building in riverside sells for $11.4 million

ARCO station, convenience store sells for $5.6 million

An ARCO gas station and an AM/PM convenience store in Apple Valley have been sold for $5.6 million.

The freestanding project is at Rancherias Road and U.S. Highway 18, an intersection that accommodates more than 36,500 vehicles on a typical day, according to a statement released by Progressive Real Estate Partners in Rancho Cucamonga.

The purchase included the businesses and the property. Names of the buyer and seller were not released.

Built-in 1998, the ARCO station has six dispensers and 16 fueling stations. The convenience store covers more than 2,700 square feet and has a liquor license.

Nearly 40,000 residents, with an average household income of more than $91,000 live within a three-mile radius of the property.  Nearby retailers include Wal-Mart, Albertsons, America’s Tire, AutoZone, Chase Bank, Little Caesars Pizza, McDonald’s, Taco Bell.

The sale took about 45 days to put together. Progressive, which specializes in small to medium-sized retail transactions in the Inland Empire, represented both parties, according to the statement.

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