The downturn in the US auto industry has created an opportunity for new development along S. Kingshighway, putting closed auto dealerships up for sale. What would you like to see happen?
Let's use this post as a virtual auction and planning exercise. Name your price and then describe what you would do with the property. We'll start off with some basic assumptions. Let's say the property consists of the following:
3.5 acre site on a heavily traveled commercial corridor in vibrant South St. Louis City, ample surface parking available in front, side and rear.
20,000 square foot showroom building, includes 6,000 square feet of executive/sales offices.
40,000 square foot, high ceiling, concrete floor, shop area.
Buildings recently renovated, all in good to excellent condition.
Some would start the bidding at $1.00. They wouldn't plan to actually build anything though.
They would simply tie up the property and seek another developer to buy it. Call it development in a sort of speculator, ebay sort of way.
Many investors would be willing to pay up to $100,000 for such a bottom fishing, speculative opportunity. So let's say the real planning and development ideas must start with a minimum bid of $100,000.
Name your price, but remember, you must also state your plans for the property.
Let's see how high the bidding gets, and what creative ideas emerge for the property's reuse.