A Caltex service station in the Central Coast town of Woy Woy has fetched $2.98 million at a recent auction.

Ray White Commercial sold 62-68 Memorial Ave to a private investor for an annual return of 8.1%.

Its net rent was put at $243,000.

There was a lease in place until 2023 with three five-year options available.

It last sold at $200,000 in 1997.

Extracted from Property Observer.