"Down the street, the asking price is $9 per sf," Paul P. Partyka of Maitland, FL-based NAI Realvest Partners Inc. tells GlobeSt.com. "The developer/owner was planning either an apartment complex or a commercial center" for the site.
Seminole, one of the state's more affluent counties, paid $4.35 million or $117,568 per acre ($2.70 per sf), high by some standards for recreational-use land, other brokers tell GlobeSt.com, but still a good price relative to prices being quoted in urban settings nearby.
At $9 per sf, the county would have paid $392,040 per acre or $14.5 million for the 37 acres, a price that would be unacceptable and unattainable for most municipal bodies, brokers tell GlobeSt.com.
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