Mickey’s Convenience Store is poised to sell a property it purchased a year ago as commercial space, but several of its other non-developed sites will remain options for future expansion.
“We are under contract, but I expect it to close in the next 30 to 60 days,” said Mickey’s President Karen Walinder, referring to the former Young’s Mart No. 2 at 1807 S. W.S. Young Drive. “(The building) will be renovated at that time.”
Walinder couldn’t speculate about what the former gas station and convenience store would become because of the real estate negotiations.
But it will not be a gas station, she said.
“It will be sold for a different use than the convenience store,” Walinder said.
Since Mickey’s already operates a store about a block away, the Killeen-based chain didn’t want an additional store locating there, Walinder said.
After its purchase of the site, Mickey’s removed the gas tanks and pumps from the location, she said.
“It was just a good deal for us, so we did it,” Walinder said.
According to the Bell County Tax Appraisal District, Thomkar Inc., which is Mickey’s land-holding company, purchased Young’s Mart No. 2 last June.
The purchase cost was not available, but the site was valued at $436,000 for taxing purposes, stated the district’s website.
Mickey’s operates 17 locations in Killeen, Harker Heights and Copperas Cove with several other sites
that may become future convenience stores, Walinder said.
It is common for the businesses to purchase land several years before developing a property, she said.
Mickey’s currently owns a property at South W.S. Young Drive and Elms Road with signage that states a new store will be locating there soon.
“There is a huge amount of traffic there, and Killeen continues to grow south,” Walinder said. “That property is only going to get more expensive.”
The goal of purchasing on speculation is to buy low and sell high or develop it for a store, she said.
While Mickey’s owns such a site, Walinder was unsure when it would be developed or sold.
“There are no plans to build on it in the next year,” she said.
Expansions there and in other locations are always possible, she said.