Is Avondale Ready For A 7-Eleven?

[cline]

I heard it was due to neighborhood opposition.  Others may have more details.

[logical]

7-11 didn't like its developer's plans.  Now it's two stories, with a 7-11 on the bottom floor and an internet cafe on the 2nd floor.

[mtraininjax]

someone will do something with the space, the area is too hot for it to sit empty for too long.

[ChriswUfGator]

It is dead, 7-11 backed out (unfortunately)

Like I told that realtor who was arguing with me, it didn't make business sense. The price was impossible for that use.

The FSBO comment is correct.  No brokers "turned down" listing the property.  The owners chose to put up a sign. and later turned to a broker.

Typically, a buyer requires a period of time to do a feasibility study, generally up to 90 days, and often with options to extend the feasibility duration for additional 30 day periods.  It would not be surpising if the actual sale happens after Thanksgiving, if the Buyer sees no larger-than-life issues

Another point...an earlier postee lamented that an asking price of, say, $1.3 mil translates into about $4.8 mil per acre.  That "method" is absolutely NOT how buyers determine the price they will pay.  A purchase price is determined by several variables, such as the business plan, build out costs, capitalization of costs, return on investment.  I know of a 3,000+ s.f. commercial building, with no parking and a zero lot line, in a similar shopping area, one story, which sold for about $1.2 mil.  The building will be gutted then built out to suit the buyer's business plan.  If the earlier postee's "method" of pricing the purchase were applied, the buyer is paying about $14 mil 'per acre'.

On another topic, I watched when the tanks, gas lines, pumps and dispensers were removed, followed by the removal of tons of contaminated soil, and replaced by clean soil.  I later learned that the owners could have sold the contaminated property for a lot more than the current asking price, but would not pass along to the buyer the huge task of remediating the property.  Kudos to the owners.  I wonder how many of the postees on this board would have "taken the money and run" rather than do the right thing, AND pay for the cleanup to boot.

By the way....the removed tanks were fiberglass, not steel, as one of the postees presented as fact.  I saw them come out of the ground, crushed and hauled away.  It is interesting how people present themselves as "Carnac The Magnificent" when they more closely resemble Curly, Moe or Joe.   

OWNED

Hardly.

What we clearly have here is the agent trying to justify a price that, since he mentioned Carnac, is a better joke than even Carson himself could have written. I guess there's a sucker born every minute, and he must have found one. Let's just hope for his sake it's a cash deal, and there is no financing contingent on an appraisal.

To put this in further  perspective, almost directly across the street you can get a similarly-sized parcel for $1.9mm (and that's only asking) that includes an operating restaurant, an operating liquor store, a 4COP liquor license, and the extant structures which are in reasonably good condition, all for $600k more than this former gas station where you'll have to invest another $1mm +/- on top of the purchase price in demolishing it and building a new structure from scratch.

FWIW, I think the Monty's listing is also overpriced, so that should tell you what my thoughts are on the price of this complete teardown. I guess if the buyer is 7-11 then they can overpay as much as they'd like, it's only stockholder's money. But if it's a private buyer, I hope the price reflects a grossly discounted figure from the list price, or else my advice would be please don't scuff the walls, let's keep it nice in case I want to pick it up at the foreclosure sale.

And well, well, well. Now that we're in 2012, and everyone knows 7-11 balked at the highway robbery excuse me, "deal," and pulled out, I wanted to revisit the "OWNED" comment for a moment.

So now that that's out of the way, I actually have to thank logical and the owners for maintaining a ludicrous asking price, since I continue to enjoy the free parking whenever I go eat at one of the fully operational and built-out restaurants nearby, any of which you'd probably have no trouble picking up for less than this 7-11 would have cost. Gosh, I can't imagine why this listing's not flying right off the shelf.

But what do I know, after all when I pointed this out last year, I was "owned" and whatnot.

[cline]

7-11 didn't like its developer's plans.  Now it's two stories, with a 7-11 on the bottom floor and an internet cafe on the 2nd floor.

Where did you hear this?

[thelakelander]

^I think logical may have been joking.

[cline]

Ah, he got me

[logical]

It is dead, 7-11 backed out (unfortunately)

Like I told that realtor who was arguing with me, it didn't make business sense. The price was impossible for that use.

The FSBO comment is correct.  No brokers "turned down" listing the property.  The owners chose to put up a sign. and later turned to a broker.

Typically, a buyer requires a period of time to do a feasibility study, generally up to 90 days, and often with options to extend the feasibility duration for additional 30 day periods.  It would not be surpising if the actual sale happens after Thanksgiving, if the Buyer sees no larger-than-life issues

Another point...an earlier postee lamented that an asking price of, say, $1.3 mil translates into about $4.8 mil per acre.  That "method" is absolutely NOT how buyers determine the price they will pay.  A purchase price is determined by several variables, such as the business plan, build out costs, capitalization of costs, return on investment.  I know of a 3,000+ s.f. commercial building, with no parking and a zero lot line, in a similar shopping area, one story, which sold for about $1.2 mil.  The building will be gutted then built out to suit the buyer's business plan.  If the earlier postee's "method" of pricing the purchase were applied, the buyer is paying about $14 mil 'per acre'.

On another topic, I watched when the tanks, gas lines, pumps and dispensers were removed, followed by the removal of tons of contaminated soil, and replaced by clean soil.  I later learned that the owners could have sold the contaminated property for a lot more than the current asking price, but would not pass along to the buyer the huge task of remediating the property.  Kudos to the owners.  I wonder how many of the postees on this board would have "taken the money and run" rather than do the right thing, AND pay for the cleanup to boot.

By the way....the removed tanks were fiberglass, not steel, as one of the postees presented as fact.  I saw them come out of the ground, crushed and hauled away.  It is interesting how people present themselves as "Carnac The Magnificent" when they more closely resemble Curly, Moe or Joe.   

OWNED

Hardly.

What we clearly have here is the agent trying to justify a price that, since he mentioned Carnac, is a better joke than even Carson himself could have written. I guess there's a sucker born every minute, and he must have found one. Let's just hope for his sake it's a cash deal, and there is no financing contingent on an appraisal.

To put this in further  perspective, almost directly across the street you can get a similarly-sized parcel for $1.9mm (and that's only asking) that includes an operating restaurant, an operating liquor store, a 4COP liquor license, and the extant structures which are in reasonably good condition, all for $600k more than this former gas station where you'll have to invest another $1mm +/- on top of the purchase price in demolishing it and building a new structure from scratch.

FWIW, I think the Monty's listing is also overpriced, so that should tell you what my thoughts are on the price of this complete teardown. I guess if the buyer is 7-11 then they can overpay as much as they'd like, it's only stockholder's money. But if it's a private buyer, I hope the price reflects a grossly discounted figure from the list price, or else my advice would be please don't scuff the walls, let's keep it nice in case I want to pick it up at the foreclosure sale.

And well, well, well. Now that we're in 2012, and everyone knows 7-11 balked at the highway robbery excuse me, "deal," and pulled out, I wanted to revisit the "OWNED" comment for a moment.

So now that that's out of the way, I actually have to thank logical and the owners for maintaining a ludicrous asking price, since I continue to enjoy the free parking whenever I go eat at one of the fully operational and built-out restaurants nearby, any of which you'd probably have no trouble picking up for less than this 7-11 would have cost. Gosh, I can't imagine why this listing's not flying right off the shelf.

But what do I know, after all when I pointed this out last year, I was "owned" and whatnot.

[logical]

7-11 didn't like its developer's plans.  Now it's two stories, with a 7-11 on the bottom floor and an internet cafe on the 2nd floor.

Where did you hear this?

*******************************************************************************************
This response is to the post just above, NOT to Logical's previous post (hit the wrong 'quote')

You say there is a similar sized property almost across the street (from the Shell Station) and the asking price is $1.9 mil.  Well that property is only 6,900 s.f. versus the Shell property of about 12,500 s.f. AND your "similar sized property" is almost two blocks South of the Shell property, near the end of the shops strip.

You say you like the 'free parking'.  You obviously didn't read or ignored the posted NO TRESPASSING signs with applicable Florida Statutes displayed on the signs.  Well, I did see the signs and am familiar with the Statutes.  Anybody can be arrested for just being on the property.  The owner appears to have been a 'nice' neighbor by not booting the parkers a long time ago.  I choose to respect the owner's posted signage.

I enjoyed watching the smart aleck guy who parked in front of the middle bay, then give the owner the f____r when told to move his pretty, pretty BMW, get arrested by the JSO when he came back to his car, and hauled off to the pokey. It was also quite enjoyable seeing his precious BMW towed off.  I'll bet he doesn't park there anymore.  His payoff ?? Time to cool off "downtown", a criminal record, a fat fine for his criminal act, plus a hefty towing and storage fee.

And what make and model car do YOU drive?

7-11 IS BACK

[ChriswUfGator]

7-11 didn't like its developer's plans.  Now it's two stories, with a 7-11 on the bottom floor and an internet cafe on the 2nd floor.

Where did you hear this?

*******************************************************************************************
This response is to the post just above, NOT to Logical's previous post (hit the wrong 'quote')

You say there is a similar sized property almost across the street (from the Shell Station) and the asking price is $1.9 mil.  Well that property is only 6,900 s.f. versus the Shell property of about 12,500 s.f. AND your "similar sized property" is almost two blocks South of the Shell property, near the end of the shops strip.

You say you like the 'free parking'.  You obviously didn't read or ignored the posted NO TRESPASSING signs with applicable Florida Statutes displayed on the signs.  Well, I did see the signs and am familiar with the Statutes.  Anybody can be arrested for just being on the property.  The owner appears to have been a 'nice' neighbor by not booting the parkers a long time ago.  I choose to respect the owner's posted signage.

I enjoyed watching the smart aleck guy who parked in front of the middle bay, then give the owner the f____r when told to move his pretty, pretty BMW, get arrested by the JSO when he came back to his car, and hauled off to the pokey. It was also quite enjoyable seeing his precious BMW towed off.  I'll bet he doesn't park there anymore.  His payoff ?? Time to cool off "downtown", a criminal record, a fat fine for his criminal act, plus a hefty towing and storage fee.

And what make and model car do YOU drive?

7-11 IS BACK

I don't have a BMW, and I'd have to call B.S. on your having anyone sent to jail for a parking violation, though I'm sure it makes for quite a nice story. As for the 7-11, it's not back, they walked. That property is 0 square feet, it's a tear down and scratch build situation, comparing something that would actually be more valuable if it were a vacant lot to existing structures of any size (that come complete with operating businesses and a 4COP liquor license) continues to make my point for me. The price is absurd.

[logical]

Hey, I'm not the owner, and didn't even imply that you (I have no idea who you are) own a BMW or were the driver.  If you think the trespass, etc., is B.S., go to the property, write down the Statutes and check them out.  I did, and know that anyone going on the property for any reason can be arrested WITHOUT any owner being present.

And you say the property is "zero" and has only value as an empty lot.  By the tone of your post, must have hit a nerve.  The Shell property is and will always be 12,500 s.f. smack dab in the middle of the shops strip...it is THE prime property.  That $1.9 million "for sale" price way down the street is a dead dog.  It is not even worth the mortgage on the property.  The owner is so far underwater he will need a gas hose to get air, but for sure no buyer would touch the $1.9 mil. asking price.

And Carnac the Magnificent's answer?  Well, the question he will answer is "Who will eat his words?'

Do you want fries with that? 

[ChriswUfGator]

Hey, I'm not the owner, and didn't even imply that you (I have no idea who you are) own a BMW or were the driver.  If you think the trespass, etc., is B.S., go to the property, write down the Statutes and check them out.  I did, and know that anyone going on the property for any reason can be arrested WITHOUT any owner being present.

And you say the property is "zero" and has only value as an empty lot.  By the tone of your post, must have hit a nerve.  The Shell property is and will always be 12,500 s.f. smack dab in the middle of the shops strip...it is THE prime property.  That $1.9 million "for sale" price way down the street is a dead dog.  It is not even worth the mortgage on the property.  The owner is so far underwater he will need a gas hose to get air, but for sure no buyer would touch the $1.9 mil. asking price.

And Carnac the Magnificent's answer?  Well, the question he will answer is "Who will eat his words?'

Do you want fries with that? 

No trespassing signs aren't sufficient to tow a vehicle, you have to have specialized signage listing the name, license number, and contact information of the towing operator, among other things. And FWIW there aren't no trespassing signs on that property either. Again, I'm calling B.S. that you had anyone arrested for a parking violation. As far as hitting a nerve, your reacting with fictional B.S. about having people arrested for parking violations would seem to demonstrate the black hole is calling the kettle black.

As far as what you never implied, that's just more B.S.;

And what make and model car do YOU drive?

That's the thing about message boards, your words stay there even when they're no longer convenient.

[logical]

A couple of things I know for sure:  (1) I am not the owner.  (2) You say there are "[sic]...No, 'NO TRESPASSING' signs on the property..."  For a few years I have seen 4 such signs facing St. Johns Avenue AND Ingleside.  I may go to The Brick this week, and bet the signs are still there, unless you knocked them down when you parked for free.  And why did you choose to not respond to your property not being "almost across the street and of similar size [as the Shell property], when neither is true ?

The owner of the Shell property is doing the other shop owners a huge favor by not booting the parkers, but you don't seem to appreciate that fact.  I also have seen on that property: decorated Christmas trees; a snow slide for the kids; and other seasonal decorations.  But you prefer to ignore that generousness and write things that are not so.  Shame on you. 

[Captain Zissou]

I don't usually get involved in Chris' squabbles, but 'logical' (oh the irony) there are a few common forum courtesies that you generally lack.

-First, if you have a relationship with the owner of the shell property or the property itself, you should declare it.  Even if it is 'he's an acquaintance'.  It's better to admit it than to have it be found out later.  A hidden agenda never helps one's argument.

-Second, if you have no relationship with the property or the owner, you're just a mean spirited individual who needs to get a life.  Quit with the personal attacks and just stick to the issue at hand.  If you do actually know anything at all about the shell property, talk about that and not your vendetta against Chris.

Quote from: logical on March 09, 2012, 10:48:42 PM

    And what make and model car do YOU drive?

Seriously??  You have nothing better to do than sit around and hope Chris' car gets towed (which it can't, btw, he is right on this issue).  Also your whole holier than thou attitude is really off-putting.  Congrats that you don't park on the Shell property, neither do thousands of other patrons to the Shoppes.  You don't see them looking for an 'attaboy' or a pat on the back, do you?

Finally, what's a f____r??

smart aleck guy who parked in front of the middle bay, then give the owner the f____r when told to move his pretty, pretty BMW

Did he give him the fuhrer, the fryer, the fibber, the fastener, the folder, the flier, the forum-er, or heaven forbid and pardon my french the FINGER?? If you're so worked up over the matter that you have to resort to words that you won't even allow yourself to type, you need to calm down, drink another vodka tonic, and let it go.  This is a forum to discuss urban issues, not for you to slander people you don't even know.  Calm down Ned Flanders. 


That said, hopefully a more civilized discourse can ensue.

[logical]

Personal attacks ??  I have made no "personal attacks" to whomever.  I responded to "Chris' false information about the $1.9 property "[sic] being almost across the street...and the same size as the Shell property" (Chris' words).  Chris, whoever he is (I do not know or care) is the one who started firing personal attacks by more than inferrring I lied about a tow I witnessed.  Go back and read my first response to his false information.  Where is the personal attack you accuse me of making...it is not there.

What also is not there is an admission by Chris that he is wrong about the location and size of his property, the main theme of my earlier post.

I do not want Chris' or anyone's car towed.  My question about the make and model of his car was a poke, nothing more...but you know that, and you also know the word for f____r, especially in the context of the comment.  Pardon my attempt to avoid improper language in what is supposed to be a disussion forum.

Concerning ownership of the Shell property, I genuinely do not care.  I still give him-or her-or them-or it- -kudos for being a good neighbor.

And do you want fries with that ?