News About winterhaven florida real estate
No one has submitted a bid for the Lakeland property as of Tuesday, said Karen Mathis, Citrus Department spokeswoman.
But another department document - an "opinion of value" by James Kincaid of Randy Kincaid Realty in Lakeland - put the value of the property at $1.25 million.
About two dozen employees of the Florida Department of Agriculture and Consumer Services in October relocated from the Crawford building to another department office in Winter Haven. That cost the department nearly $200,000.
The Citrus Department will save $170,000 because it will not have to build a special air-conditioned, secure room for its computer servers, Funkhouser said.
The Citrus Department expects to come under the $810,000 budgeted earlier for the move, she said.
Potential buyers have three weeks to submit bids.
Kincaid came to his estimate based on the potential rental income the property could generate for an investor based on the building's 23,122 square feet of office space at an annual rent of $10 per square foot; and 12,675 square feet of warehouse space at a rent of $7 per square foot.
Ken Keck, Citrus Department executive director, justified the 60 percent markup on the property by noting the local real estate market is "fluid."
Kincaid's appraisal, however, notes little action in the local real estate market for a comparable commercial building.
Debra Funkhouser, the department's comptroller, in September told the Florida Citrus Commission replacing the building's malfunctioning air conditioning system would cost $453,000 and that lighting and other upgrades would add $109,000. The commission is the department's governing body.
The building is now up for bid at a minimum price of $2 million. 15. Bids must reach that address by 11 a.m. on Jan. Any bids less than $2 million will be rejected out of hand, according to bidding documents from the Citrus Department.
[ Kevin Bouffard can be reached at kevin.bouffard@theledger.com or at 863-422-6800. ]
He also considered the building would "require extensive renovations to be energy and maintenance efficient."
So might run a classified ad for the 53-year-old building at 1115 E. Memorial Blvd. that currently serves as headquarters for the Florida Department of Citrus.
The Crawford building is undergoing renovations and should be ready for occupancy by February, Funkhouser said on Tuesday.
"The appraiser could find no comparables for similar properties in the area that transacted within the past six months. There has been such a significant decline in values of commercial properties that any older comparables would be meaningless," Kincaid said in the report. "The area is realizing limited growth due to current market conditions."
The Citrus Department is relocating to the Crawford Agricultural Center in Bartow as part of a budget action sponsored by state Sen. JD Alexander, R-Lake Wales, a citrus grower and rancher and chairman of the Senate's budget committee.
"There's interest in the building," he told The Ledger.
Florida law mandates relocating state agencies hook up to the state's mainframe computer system, she said. Department officials previously rejected that option.
winterhaven florida real estate
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Department of Citrus wants $2 million for Lakeland property valued at $1.25 ... Ken Keck, Citrus Department executive director, justified the 60 percent markup on the property by noting the local real estate market is "fluid. и другие » |
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