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Declaration of County Owned Property Located at 15487 Citrus Way a/k/a Little Rock Library and Cannery as Surplus Property and Consideration of Purchase Offers (Key #332367)
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BRIEF OVERVIEW
Hernando County owned Parcel Key No. 332367, located at 15487 Citrus Way, also known as The Little Rock Library and The Cannery, contains a 2,605 square foot commercial building on a lot consisting of .40 acres.
There are currently three offers to purchase the subject property on this agenda item: The first offer is from Ninetta FL Invest, LLC for $199,000.00. Ninetta FL Invest, LLC is a near-by neighbor to the Cannery and is also located on Citrus Way. (Parcel Key 332214).
The second offer to purchase this property is from At in At Holdings, LLC for $120,000.00.
The third offer, which was previously presented to this board, is an unsolicited offer from The Hernando County Grower's Association, for $10,000.00. The Hernando County Grower's Association are current tenants of the subject property whose lease term has been temporarily extended.
The Hernando County Property Appraiser's 2022 market value, based on 2021 qualified sales, is $82,123.00. The offer presented by Ninetta FL Invest, LLC is 242% of the Property Appraiser's market value. The offer presented by At in At Holdings, LLC is 146% of the Property Appraiser's market value. The unsolicited offer from The Hernando Grower's Association is 12% of the Property Appraiser's market value.
Regarding the unsolicited offer: Pursuant to Hernando County Code ?2-173, Treatment of Unsolicited Offers, "The Board of County Commissioners is under no obligation to consider unsolicited bids to purchase or lease county-owned property. If the applicable property has not yet been determined to be surplus property, the offer shall be processed as a request to declare such property to be surplus pursuant to section 2-171(a)(2). If the Board has determined that the applicable property is surplus, the ...
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