Does the sale of a closed gas station on Rochester's North Broadway signal something might finally happen with the long-unused corner of a busy intersection? 

The former Sinclair gas station and car wash at 1401 N. Broadway, which closed during the summer of 2016, was purchased by AV, LLC of Rochester for $767,500 on Feb. 15.

AV, LLC is based at 5360 Weatherhill Road SW in Rochester.

That gas station property is tucked in next to the Zumbro River in front of the River Bend Senior Living Community and across Broadway from the Silver Lake Shopping Center.

Olmsted County estimated the total market value for the 2,204-square-foot building and land at $654,300 for 2017-2018.

JLV Assets Acquisition LLC of Eau Claire, Wis., sold the decaying gas station. A company related to JLV purchased it in 2016 for $590,000.

In April 2018, plans surfaced for a bank branch and a coffee shop on that site.

Rochester’s Broadway Enterprises and JLV submitted plans to the city this week for two related development projects on that stretch of North Broadway by the River Center Plaza commercial center.

The plans submitted to the city showed a 2,000-square-foot coffee shop being built on the gas station site. While the name of the coffee shop was obscured in parts of the permit application, it is labeled as a Starbuck’s coffee shop on the attached map.

That seemed unusual, because a 2,500-square-foot Caribou Coffee and Einstein Bros. complex was recently built nearby in front of the River Center Plaza.

The other part of the 2018 plans showed a proposed 7,763-square-foot bank branch at 1405 North Broadway, where a former Wendy’s hamburger eatery once stood. It closed in 2016 and was demolished in the fall of 2017.

It's unknown what this latest sale means for future development of the area, but I'll keep digging.

Jeff Kiger tracks business action in Rochester and southeastern Minnesota every day in Heard on the Street. Send tips to jkiger@postbulletin.com or via Twitter to @whereskiger. You can call him at 285-7798.

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