Mirabito Co. prepping village parcel for sale; Bridge Street property vacant since '96 flood
By Brian Sweeney
The owners of a vacant parcel at the entrance to Margaretville are offering the property for sale.¬†
The Sidney-based Mirabito Fuel Group has owned the Bridge Street property since the early 1990s, since purchasing the Margaretville Service Station. The business was destroyed by flooding in January 1996.
The parcel, which is slightly more than an acre, has remained undeveloped since the remains of the business were razed ¬†after that devastating flood. A number of years back, the Mirabito Fuel Group was seriously exploring the possibility of placing a McDonald‚Äôs restaurant ¬†on the property. That deal never materialized and the parcel has served as an informal parking lot for more than a decade.
Looking to sell
Earlier this month, the owners had three large fuel storage tanks removed from the service station property and also took down the advertising sign that touted unleaded regular gas for $1.29 per gallon.¬†
Joe Mirabito, president of the Mirabito Fuel Group, said last week that the site work was done in anticipation of selling the land.
‚ÄúThe tanks were fine, but we wanted to get them out, we‚Äôre preparing the property for sale,‚Äù Mr. Mirabito explained.
He indicated that ‚Äúpeople are kicking tires, but there‚Äôs nothing imminent right now‚Äù in terms of a transaction. ‚ÄúOnce we get it ready for sale, the tire-kickers become more serious.‚Äù
Mr. Mirabito said it is unlikely that his company will pursue any development of the property.
‚ÄúProbably not. We‚Äôve thrown in the towel,‚Äù he stated.
Margaretville Mayor Bill Stanton said the village had an interest in the property several years ago. The village was part of a negotiating process in which grant funding was being sought to purchase the land for just under $200,000. Once the purchase was complete, the property was going to be deeded over to the village. The municipality is no longer interested in owning the property, the mayor said.¬†
An adjacent car wash was also destroyed by the record-breaking flood of January 1996.