SMITHFIELD- Bulldozers rolled last week at the corner of Seventh and Market streets, making way for a new convenience store with gas pumps and a restaurant.

Stancil Oil Co. hopes to open the store in January and plans to sell Marathon-brand gasoline and diesel. Also, the store will be among the first in the state to carry environmentally friendly E85 ethanol fuel.

“We're trying to go green because a lot of cars can use flex fuel,” said owner Larry Stancil. Although E85 is less expensive to drivers than regular gasoline, it requires expensive pumps, and Stancil said he probably won't make a profit on ethanol sales at first.

In addition to a 3,300-square-foot convenience store, the new building will also house a restaurant. While Stancil's company will operate the store and gas pumps, he's leasing the restaurant space and said he couldn't yet release the name.

“We haven't signed a deal,” Stancil said. “It would probably be more of a local chain or smaller franchise.”

Stancil said the building's architecture will fit in with downtown because it will have a more attractive design than an average convenience store. “This is a first-class, nice facility,” he said. “There was a need for this in this area.”

Stancil also wants to pay tribute to the history of the site and to downtown Smithfield. He plans to display old photos of downtown and the earlier gas station on the site.

The company is pursuing the project now in part because of the recession, Stancil said. “With the economy where it's at, it's actually a good time to get better pricing,” Stancil said. “You can get work done easier.”

Selma-based Stancil Oil., a fuel supplier, owns another store at U.S. 301 and Ricks Road in Selma. The company, which has been around since 1940, already owned the East Market Street lot.