"It would be a steal," Arvida Realty Services Inc.'s Dean Fritchen says. The property is 25 miles west of Downtown Orlando. The hospital's board has received four offers on the building, all of them at least 50% less than the appraised value of $1.7 million or $28.33 per sf.
The highest offer today is $775,000 or $12.91 per sf from Horne Properties Inc., owner of the South Lake Press, a weekly publication in south Lake County. The building would be the newspaper's new headquarters.
Sam McDowell, a former Cleveland Indians pitcher and currently a principal with Diamond Players Club, is offering $650,000 or $10.83 per sf. McDowell wants to convert the facility to a rest home for retired professional athletes.
Two identical bids of $700,000 or $11.66 per sf are from United Methodist Church of Clermont and developers Dale and Darryl Ladd. The Ladds, owners of Highland Development Co. and United Methodist members, say, however, they will withdraw their bid if the church wants to continue bidding. United Methodist's first bid was $500,000 or $8.33 per sf.
The hospital's board is in a dilemma: Sell to the highest bidder who would use the property for commercial purposes, or sell to United Methodist which plans to house 50 non-profit social services group in the building. The board will decide at its April meeting.
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