Compass Real Estate Sells Zips Gas Station for $1.31 Million

Lebanon, TN (4/29/2014) – Compass Real Estate is excited to announce the closing of the Zips Gas Station located at 1137 Castle Heights Ave in Lebanon, TN.  This property is one of more than 25 properties entrusted to Compass Real Estate to list for sell on behalf of the Federal Deposit Insurance Corporation (FDIC).  Compass Real Estate, with offices both in Chattanooga and Nashville, works in association with The Swicegood Group, Inc. of North Carolina to assist in the disposition of FDIC-owned real estate nationwide.

This gas station was assigned to FDIC Project Manager Justin Ochs, Principal Broker/Lead Auctioneer for Compass’s Nashville Division.  Justin quickly resourced Compass’s extensive database of national and international buyers.  Within 30 days and before a list price could be issued by FDIC, Justin brought 5 competing buyers to the table.  A final call for highest and best offers was issued as soon as the list price was announced in early December.

Built in 2001, Zips Gas Station offers the perfect location placed at the corner of N. Castle Heights Ave and N. Cumberland St.  The convenience store encompasses 6,649 +/- square feet of gross building area with an automated carwash and 14 covered gas pumps.  The location, high traffic area, and array of income producing amenities made this gas station an easy buying decision for interested parties.

This property was listed and sold by Team Compass for $1,310,000.00.  FDIC Officers and asset managers have been extremely pleased with the performance of properties listed across the state of Tennessee by Team Compass.

Justin Ochs, M.S., CAI
Principal Broker/Auctioneer
Compass Auctions & Real Estate
Nashville Division
“Choosing the right company to handle your auction often makes the difference. With a passion for excellence and extraordinary performance, Compass Auctions & Real Estate works to secure the highest dollar for your assets”