Construction will begin in 30 to 45 days on the RaceTrac gas station at the northeast corner of Old Kings Road and State Road 100, the real estate broker who handled the sale of the parcel to RaceTrac said.
Bill Hoover, a planner with Palm Coast government, revealed the pending sale of lots at the long-vacant Kings Pointe development during a planning board meeting last November. But it was not clear at the time exactly when construction would begin. “RaceTrac Petroleum has one and a half lots right at the northeast corner of State Road 100 under purchase contract, and they have already submitted a site plan,” Hoover said at the time, ” and it looks like that project will more than likely move forward and it may start construction maybe in as quick as several months from now.”
Margaret Sheehan Jones, the commercial real estate broker at Parkside Realty Group, brokered the sale of two Kings Pointe lots to RaceTrac Petroleum, Inc. for $1.3 million. Lot 7 is 1.828 acres, according to Flagler County property appraiser records, and Lot 8 is 1.39 acres. The lots were sold together.
“These two lots are prime commercial property right on the corner of Old Kings Rd. and SR 100,” Sheehan Jones said. “We’ve seen an uptick the past five months in commercial real estate activity in Flagler County.”
RaceTrac spokesman Mark Hudgins said that the construction project has gone out to bid. A “Coming Soon” sign is expected to be installed in the next few weeks. The sign will include a photo of the store so people know what to expect, though motorists already have a good idea of what’s coming: this will be Palm Coast’s third RaceTrac, with another one just a few blocks to the west on State Road 100 and Seminole Woods Parkway, and the original Palm Coast RaceTrac on Palm Coast Parkway.
The dearth of gas stations along State Road 100 may soon turn into a glut, with the relatively new 7-11 gas station near Publix in Flagler Beach, the two RaceTrac stations and a Wawa coming soon at the corner of Bulldog Drive and State Road 100. There had also been plans for a gas station at the commercial development on the south side of State Road 100, near Belle Terre Parkway.
For Kings Pointe, the sale is something of a breakthrough for a series of lots that have been prepared in hopes of development almost a decade ago, only to fall victim to the housing collapse. Seven other pad-ready lots are selling at Kings Pointe, ranging in price from $475,000 to $1.1 million, with interest from a hotel developer, retail, and a few quick serve restaurants.