Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1240 8Th Ave W Palmetto, FL 34221

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Shell Station in Palmetto, FL, recently renovated in 2021.

    Lot size:
    0.48 Acres

    Property Features for 1240 8Th Ave W

    General Information

    Standard status
    Active
    Lot size
    0.48 Acres

    Building Details

    Year built
    1960

    We can help!

    Listing Contact
    Scott Reid
    Source: Crexi

    Listing Agency: ParaSell Inc Listing Agent: Scott Reid

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Renovated Shell Station For Sale

    The Shell Station, located in Palmetto, FL, is available for purchase. The property was completely renovated in late 2021. Renovations included new fuel pumps, underground tanks, HVAC systems, roof, canopy, signage, and a rebuilt Go Market convenience store. The renovations resulted in a modern facility.
    Location Intelligence

    Current Use by Public Records

    Shell Gas Station

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Palmetto
    County
    Manatee
    State
    Florida
    Longitude
    -82.5726821
    Latitude
    27.5249115

    Nearby Similar for Sale

    • $1,500,000
      3,946 SF

      Equestrian Center with Mediterranean Home

      4.9-acre horse ranch with home, cabin, and 20-stall barn.
      9510 36Th Ave E, Palmetto, FL 34221
      View Details
    • $289,000
      0.03 Acres

      Riviera Dunes Marina Slip Available

      70' boat slip in a protected Florida marina.
      102 Riviera Dunes Way, Palmetto, FL 34221
      View Details
    • $415,000
      Pending

      Income-Producing Palmetto Duplex

      Charming duplex with proven short-term rental income near Manatee River.
      1318 6Th St W, Palmetto, FL 34221
      View Details
    • New
      $57,000
      0.01 Acres

      RV Lot in Tropic Isles

      RV lot in 55+ waterfront community, Palmetto, Florida.
      63 Terra Ceia Dr, Palmetto, FL 34221
      View Details
    • $69,900
      Pending

      RV Lot in Waterfront Community

      Ready-to-go RV lot in 55+ waterfront community.
      62 Terra Ceia Dr, Palmetto, FL 34221
      View Details
    • $60,000
      0.02 Acres

      RV Lot in 55+ Community

      RV lot with shed in waterfront 55+ community.
      136 Bahia Dr, Palmetto, FL 34221
      View Details
    • $699,000
      4,600 SF

      Downtown Palmetto Commercial Property

      Two-story commercial property with retail and office space.
      435 10Th Ave W, Palmetto, FL 34221
      View Details
    • $349,900
      1,319 SF

      Villa with Golf Course View

      Two-bedroom villa overlooking the golf course and lake.
      2908 Fiddlers Bnd, Palmetto, FL 34221
      View Details
    • $2,790,000

      Palmetto Medical Building on 2.24 Acres

      Strategically located medical building with flexible space and expansion potential.
      602 4Th Avenue Blvd West, Palmetto, FL 34221
      View Details
    • $1,500,000

      Palmetto Equestrian Center with Stalls

      Horse property with 20 stalls, home, cabin, and pond.
      9510 36Th Ave E, Palmetto, FL 34221
      View Details
    • $289,000

      Riviera Dunes Marina Slip

      70' boat slip in Riviera Dunes Marina.
      102 Riviera Dunes Way, Palmetto, FL 34221
      View Details
    • $1,500,000
      3,946 SF

      Palmetto Equestrian Center with 20-Stall Barn

      Equestrian center with Mediterranean home, guest house, and barn.
      9510 36Th Ave E, Palmetto, FL 34221
      View Details

    FAQs

    What type of property is this?
    Gas station - Shell Station in Palmetto, FL, recently renovated in 2021.
    Where is this gas station located?
    The property is located at 1240 8Th Ave W Palmetto, FL.
    What are key features of this property?
    This property features: - Complete renovation finished in late 2021.; - New fuel pumps and underground tanks.; - Fully rebuilt Go Market convenience store.
    Request Owner's contact information
    1240 8Th Ave W Palmetto, FL 34221
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1240 8Th Ave W
    Palmetto, FL 34221
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1240 8Th Ave W Palmetto, FL 34221
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Scott Reid
    Real Estate License ID: 6505425224
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!