Golden Oil closed on the Mobil station at Santa Monica and Westwood Boulevard for $8.5 million, on a 10,903-square-foot corner lot at one of the busiest intersections on the Westside.
According to Oron Maher, the real story here isn’t the gas station. It’s the dirt underneath it. Nearby land comps put the real estate itself closer to $3 to $4 million, which means the buyer likely paid another $4 to $5 million for the operating business and long-term control of the corner.
If the station performs, the buyer collects the income. If Westwood land appreciates or the site becomes more valuable for another use down the line, they control a major corner in one of the tightest submarkets on the Westside.
Own a gas station on a high-value corner and want to know what your land and business are really worth?
Send us a DM.
#GasStationRealEstate #Westwood #CommercialRealEstate
