Search
 

Four Buyers Vie for Vacant 60,000-SF Hospital Building

CLERMONT, FL-One of the suitors for the 30-year-old, former 68-bed South Lake Hospital, 25 miles west of Downtown Orlando, is Sam McDowell, a former Cleveland Indians pitcher who wants to convert the facility to a rest home for retired athletes.

By Alex Finkelstein | Updated on January 24, 2001

CLERMONT, FL-All of a sudden, a for-sale, 30-year-old, 60,000-sf, vacant hospital building is drawing increasing attention from prospective buyers. The reason: They want to buy the asset at half of its appraised value, brokers familiar with the property tell GlobeSt.com.

“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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.