After more than 15 years of corporate ownership, RaceTrac Petroleum Inc. has sold its Dade City RaceWay location for $2.3 million.
The buyer of the station, located on a little more than an acre of land at 12310 U.S. 301, is 974 Pasco LLC, managed by West Palm Beach attorney Carolyn Sakolsky. The location was built in 2004 on land RaceTrac purchased in 1999 for $263,000. The land was originally owned by Bobby and Dorothy Baker of Zephyrhills.
It’s not clear if the sale of the property will affect the location in any way. A request for comment from the Atlanta-based RaceWay was pending return.
However, there is a chance the RaceWay might have sold to a franchisee. According to the company’s website, locations owned by corporate use the name RaceTrac, while those owned by franchisees are called RaceWay.
RaceWay was founded in 1934 in St. Louis as the Carl Bolch Trackside Stations. The company’s goal was to remain independent of the major oil companies, according to the company’s website.
Carl Bolch acquired the Oil Well Co. of Opp, Alabama, in 1959, and started to rapidly expand across the south beginning in the late 1960s. The RaceTrac name was adopted in 1979.