BETHESDA, Md. – In this suburb of Washington, D.C., gas stations have been disappearing as owners sell the valuable land to developers, the Washington Post reports. Along Wisconsin Avenue, a BP and two Exxons stations have shuttered their pumps in preparation of demolition for a high-rise apartment structure. A developer recently purchased the remaining gasoline station on the strip, with plans to turn it into an office building.

On a nearby road, a BP station removed its pumps in March in anticipation of a condo building taking its place, while a Shell station is being considered for redevelopment. “The properties are just worth too much money,” said R. Steven Embrey, general manager at Eastham’s Auto Service Center. The station shuttered its pumps last September, and now operates the auto repair shop until construction on an apartment building commences.

Across the Washington, D.C., region, gas stations are closing and being replaced by high-rise buildings. “In Georgetown, we have three gas stations,” said Anthony M. Lanier, president of EastBanc, a development business. “I think every one of those will be built on in the foreseeable future because of land values.”

While gasoline stations have been demolished in Washington, D.C., proper and New York City for the past two decades, industry analysts point out how the gasoline business has changed that is tipping the hand of more station owners. Wholesale gas prices have skyrocketed, leaving stations to slash their own profit margins at the pump to avoid losing customers. While many stations survive by expanding in-store sales and adding car washes and auto repair bays, stations on smaller plots in inner suburbs and cities don’t have that luxury.

“It’s hard to give up a business after 21 years — my mechanics and the community were all like a family — but when the company is losing money, it’s a no-brainer,” said George Kavadoy, who cited increased taxes, labor costs and environmental compliance as one reason he’s leasing his land to TD Bank.