Gas station, convenience store and car wash loans in New York and Dallas–Fort Worth: 864 on the record, who lends on them, and when they come due

7-Eleven's parent disclosed in April that it would close 645 North American stores in its 2026 fiscal year. Zips Car Wash went into Chapter 11 in February 2025 citing competition, rising rates and nearly $654 million of funded debt, after a build-out that had opened more than 900 express tunnels a year at its 2022 peak. Every one of those sites sits on a parcel with a recorded mortgage, and until this month no public dataset could pick those parcels out.

Now the county record can. Across New York City and Dallas–Fort Worth, 864 active mortgages of $1 million or more are recorded against gas stations, convenience stores and car washes, written by 345 different lenders. 810 of them are single-site loans under $25 million, $2.68B of original principal (153 in New York, 657 in Dallas–Fort Worth). The other 54 are chain-level facilities of $25 million and up, perfected across as many as 21 sites under one instrument; this post counts them and never adds them to a total. What follows is what the instruments say: how each county's own records identify the use, who wrote the loans, and when they come due.

Counts are as of October 24, 2026. "Gas station", "convenience store" and "car wash" mean what the county's assessor filed on the parcel, not our guess, except in Tarrant and Denton counties, where the appraisal district publishes no building class and the use is estimated from the businesses on record at the address and marked ≈ (187 of the 864). "Lender" means the institution named on the recorded instrument, which is the originator and not necessarily today's holder.

Recorded instruments by year and sub-type, both markets, whatever the loan's status today ( 2026 to Oct 24, 2026).*

How a county record says "gas station"

There is no national dataset of gas stations with mortgages, because the two halves live in different offices. The recorder files the mortgage against a lot. The assessor files the use. The join is a parcel number, and the use is written in each county's own vocabulary.

Two traps in that table are worth a paragraph each.

PLUTO files gas stations under "transportation". New York's land-use field (landuse 07, "transportation and utility") holds the G classes, parking garages included, and landuse 05, "commercial and office", holds the K store classes. A dataset that types a parcel from land use alone calls every one-story store an office and every gas station a utility. Until October 22 ours did too: 2,500 K1 one-story stores were "office" and the G3–G5 stations were "transportation". We now read the building class ahead of the land use, so a store is retail and a station is a gas station. One class is easy to misread: GU is not a car wash. The Department of Finance's list says "car sales or rental lots without showroom"; GW is the car wash class.

Texas has one code for everything commercial. We wrote about this in October: the Comptroller's F1 class covers a Buc-ee's and a nail salon alike, and only two of the four DFW districts publish a second field that splits it. In Dallas and Collin the split is the district's own; in Tarrant and Denton it is ours, read from who renders equipment at the address, and it says so wherever it appears.

What is on the record

Active mortgages of $1 million or more, one row per loan; a facility perfected by several recordings counts once. Lot size and year built are the assessor's, for the lead parcel.

The median loan is $2.5M, and 81% of the book is under $5 million: this is a sector of single-site operators and small portfolios, financed one deed at a time. The 54 instruments of $25 million and up are a different animal. 35 of them are recorded against more than one parcel, up to 21 sites, and they are a fuel distributor's or a car wash platform's credit facility perfected site by site, written by Wells Fargo Bank, MidCap Financial Trust and Regions Bank among others; 19 are on car washes, 20 on gas stations, 15 on convenience stores. A facility states its whole commitment on every deed, and the commitment is the chain's, not the corner lot's, so the $8.57B they show on paper stays out of every total here.

The lenders behind the $25M+ instruments, with the number of sites recorded under them. Stated principal is what each deed says it secures, which for a revolver is the facility, not a drawn balance.

The single-site book looks like this:

Open loans under $25 million, among the largest per market and sub-type, whose maturity is still ahead. "Open" means no release is matched and no later instrument is recorded on the lead parcel. A maturity marked ≈ is modelled from the recording date and a typical term; an unmarked one is stated on the instrument.

The New York lots are small and old: a median 11,250 square feet under a car wash and a median build year of 1964 under a gas station. That is also what a Brooklyn or Queens station is worth to a lender today: a corner lot on an avenue, which is why several of the largest "gas station" loans in the city are development loans on sites where the pumps are the current use and not the future one. Manhattan's stations have been closing for twenty years. In Dallas–Fort Worth the median gas-station parcel is 0.91 acres and a car wash sits on 1.03; the collateral is the business.

Who lends on them

Active fuel-retail loans in both markets by the originator's type. Lender types are derived from the recorded name; "other" is a lender the record does not resolve to an institution, often a private party or a seller.

Fuel retail is bank paper to a degree ordinary retail is not. In New York, banks wrote 87% of the gas-station and car-wash loans against 79% of all retail; CMBS conduits, which wrote 2% of the city's retail loans, wrote 0% of these. Dallas–Fort Worth reads the same way: 80% bank-written against 73% for retail at large. A conduit needs a tenant with a lease; a gas station's income is the operator's, and the environmental file is the operator's too, so this is relationship lending, and the names at the top of the tables are the banks that do that work, several of them among the most active SBA 7(a) lenders in the country. Which of their loans carry the guarantee, the deed does not say.

New York City

Dallas–Fort Worth

Originators ranked by active loans, all three sub-types; "last closing" is the most recent recording in the market. ¹ A successor name is a fact about the record, footnoted, never merged: the deed names the bank that existed on the day.

When they come due

A New York mortgage states no maturity in ACRIS; the date lives on the instrument, and in this cohort we have read it for 2, so the New York column below is modelled and marked ≈ throughout. A Texas deed of trust states it on page one, and our read has it for 42% of the Dallas–Fort Worth loans; the rest are estimates. Both columns count the single-site loans under $25 million.

Open fuel-retail loans by the year they come due: the stated date where the instrument has one, otherwise an estimate from the recording date and a typical term for that lender type, marked ≈. Loans with a release or a later instrument on the parcel are excluded.

On the record as stated, 8 loans ($34.0M) mature between Oct 24, 2026 and Oct 24, 2027, and 14 ($92.6M) by Oct 24, 2028. With the estimates included, 94 loans ($389.5M) fall in the next 24 months. 15 loans are past a stated maturity with no release recorded: open on the record, which usually means an extension or a payoff the county has not yet matched, and is not read as anything more.

The car wash vintage is the one to watch. 141 car wash instruments were recorded in 2021, 2022 and 2023, the years the express tunnels were built. 86 of them are still active single-site loans under $25 million, $307.2M of principal, and 64 of the vintage have no release and no later instrument on the parcel. Bank construction and mini-perm paper from those years comes up for its first reset or maturity in 2026–2028, in a sector where new express openings have fallen by two-fifths since 2022 and the average SBA 7(a) car wash loan has shrunk by a third.

The largest loans under $25 million with a stated maturity in the next 12 months, by market.

The operators

A sub-type says what the building is. The borrower and the owner of record say who runs it, and in fuel retail the operator's name is often on the deed. 120 of the 864 active loans (14%) carry a fuel brand, a chain name or the word petroleum, fuel, oil or car wash in the borrower or the owner of record:

Whole-word matches on the borrower (mortgagor) and the assessor's owner of record; a loan can count under more than one name. "Shell" matches Shell, not an owner named Shelley.

The brands that own their real estate — 7-Eleven, QuikTrip, RaceTrac, Buc-ee's — rarely mortgage it, so their counts are low by design. The names that recur are the regional operators and distributors who own dozens of sites and finance them: in New York the Bolla and Getty entities, in Texas the family fuel companies whose names end in Petroleum or Oil.

How to run it yourself

On the search page, the Retail sub-type filter (every control, step by step) sits beside Property type and takes Gas station, Convenience store and Car wash, in any combination; a market, a county, a loan-size band and a maturity window narrow it from there. The link form is /search?metroId=dfw&propertySubtype=gas_station,convenience_store, which a saved search or an email can carry. The borrower box takes a comma-separated list and matches any name, whole word, against both the borrower and the owner of record, so the brand list above is a second net on top of the sub-type. Through the connector, search_loans takes propertySubtype with the same three values and returns each row's sub-type and whether it is the district's or an estimate.

Each result links to the property record, which cites the instrument, the assessor's class it was typed from and, where the maturity is read, the page it was read from.

Method and caveats

• One row per loan. A facility perfected by several recordings counts once, on the widest; the other recordings are marked consolidated and excluded. Corporate credit facilities already confirmed as such are excluded.
• $25 million and up is counted, never summed. Those instruments are chain-level facilities whose stated amount is the commitment, not the site; every dollar figure in this post is the single-site book under $25 million.
• $1 million and up, the recorder's amount or the amount read off the instrument. Most single-site SBA loans are below it; this is the larger end of the sector.
• The use is the county's, except in Tarrant and Denton. There the estimate is right about four times in five on a hand check and is never quoted as the district's classification.
• A gas station parcel is not always a gas station loan. In New York especially, the instrument may finance what replaces the station. The sub-type is what the assessor filed on the recording day's roll.
• Houston, Austin and San Antonio are not here. Their rolls give us the state class only (Harris, Montgomery, Travis) or codes without a published key (Bexar), so no sub-type is written. Their loans are in the search under Retail or Commercial.
• Originator, not holder. The record names the institution that closed the loan. First Republic's loans are First Republic's on the deed and JPMorgan Chase's in life.
• No SBA flag. A guarantee is not recorded against the property.

Every count in this post is reproducible from the recorded instruments, and each one is cited on the property record it comes from.