Friday, June 6, 2008
Are most recent valuations of Camden commercial properties fair?
http://www.jacksonville.com/tu-online/stories/060608/geo_286901684.shtml
Does anyone seriously believe that if Mr. Brandon put the Riverview property on the market, he would list it for under $2,000,000?
As to the valuations of properties not overlooking the waterfront, that may well be another matter.
Opinions?
P.S., In the highly unlikely event that any readers are not familiar with Mr. Brandon's Riverview Hotel property, it is the two story, white building with the gray awnings on the left hand side of the picture of the St. Marys waterfront at the top of this blog. Given that single family homes - with no income generating prospects, in Osprey Cove are going for $500,000 and up, does that really look like only a $600,000 commercial property to you?
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2 comments:
Actually it is on the market for $3.89 Million. The Riverview hotel that is.
$3.89 million? Well, excuuse me! See - there ya go.
And another thing, in 2004, when it was valued at a paltry $603,000, you could have burned the damned thing to the ground in the morning and Teddie would have bought just the lot, smoldering ruins and all, for more than $603,00 by sunset.
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