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February 28, 2024

Florida investor pays $2.1M for Bristol gas station

CoStar 701 Farmington Ave., Bristol
By Michael Puffer

A Fort Lauderdale, Florida investor recently paid $2.1 million for a six-pump gas station in Bristol.

The pump station at 701 Farmington Ave. is Stop & Shop branded, according to Adam Cohen, first vice president of investments for Marcus & Millichap. A Stop & Shop is located nearby in the plaza behind the gas terminal. 

Cohen and Marcus & Millichap associate Brett Kilar were the listing brokers.

BADA CT LLC sold the three-island station with a 120-square-foot service window on a little more than one-third of an acre to 701 Farmington Ave LLC.

The buyer’s principal is Pablo Umansky, of Fort Lauderdale, Florida, according to local land records and state business records. Umansky declined comment when reached Wednesday.

BADA CT LLC paid $1.65 million for the station in 2009, according to city assessing records. Based in New Rochelle, New York, the company’s principals are Ronald Rettner and Matthew Rettner.

Cohen said gas station sales have been particularly attractive in recent years due to Trump-era tax policies regarding depreciation of fueling station assets. He also noted that Marcus & Millichap stepped in to sell the property after it sat for a year with another broker, bringing multiple offers to the table. 

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