By Sara Beth Williams– — A gas station previously owned by a prominent local businessman in Citrus Heights and then taken over by ARCO AM/PM last fall, has been listed for sale with a price tag exceeding $11 million.
The long-standing gas station on the corner of Sunrise Boulevard and Old Auburn Road recently underwent a full remodel, completing its transformation from a family-owned Pastor’s Valero gas station to the ARCO AM/PM brand. The gas station was closed for several weeks during a remodel phase, multiple residents and one of the former owners and operators confirmed.
Following its remodel, the property was recently listed for sale on commercial real estate site LoopNet for $11.5 million. The listing indicates that over $2 million has been invested by the tenant into remodeling the gas station and that there is currently a 15-year lease…