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NEWS & PRESS

07.07.2017
THE ENTERPRISE - Buzzards Bay Gas Station Sold At Auction For $990,000

By MICHAEL J. RAUSCH

The gasoline and auto service station at the West Rotary on Main Street in Buzzards Bay was sold at auction recently for nearly a million dollars.

The owners of the auction house that conducted the sale said the purchase is undergoing a finalization process.

The service station, one of eight in a 1.5-mile stretch along Main Street in Buzzards Bay, was auctioned on June 21. The auction was held by JJ Manning Auctioneers of Yarmouthport. Auction house owner Justin L. Manning said the auction drew five bidders. Four of the bidders, including the winner, are all involved in the gas/service station business, while one bidder was an investor, Mr. Manningsaid.

Mr. Manning declined to name any of the bidders for the property. He said that the name of a winning bidder is never released until a sale has been finalized. The purchaser has 45 days from the date of the auction to finalize the sale, he said. At that point, the name could be released.

"They said that they wish to close sooner rather than later, so they can get up and running as soon as possible," Mr. Manning said.

As to the other four bidders, Mr. Manning would only say that they, along with the winning bidder, were all from Massachusetts. All five were present at the site of the station, where the auction was held. Each had a certified check for $25,000 in hand. The winning bidder upped that amount to 10 percent of the sale price within three days of the sale, he said.

Town assessor records showed that the property was valued at $462,600. That figure included the land on which the station is located, the building and a detached garage, Mr. Manning said. The winning bid came in at $990,000, more than twice the assessed amount, and the second highest bid was $979,000. Mr. Manning said the assessed value did not take into consideration additional equipment that was part of the sale.

"We were selling the property as FFE-which is furniture, fixtures and extras," he said, citing the gasoline pumps as an example of the extras.

Town records list the most recent owner of the service station as Andover Motor Cars LLC, a used car dealership in Pembroke. Mr. Manning said that the owner of the dealership purchased Bay Village Auto in August 2014 from Michael A. Delsie of Buzzards Bay. Mr. Delsie had owned the property since October 2002, according to town records.

After buying the station in 2014, the new owner invested $500,000 in renovations and upgrades,Mr. Manning said. The underground tanks were replaced, along with the gasoline pumps. A new canopy was installed, a new sign put up, and new lifts placed in the service area, to name a few of the upgrades, he said.

Mr. Manning said the auction was titled as "retirement forces the sale." He said that his client "encountered some unforeseen personal reasons," which led to the decision to immediately sell Bay Village Auto. The auction was not the result of a bank foreclosure, he said.

"The owner had not planned to sell. A lot of care and attention went into the place. Anyone buying was buying something really turnkey for them," he said.