by Mike Sharkey
Staff Writer
The former Miami Subs on Monument Road near Regency Square mall has been closed for so long it’s starting to resemble one of those buildings in the Discovery Channel’s show about what will happen when man is gone and Earth reclaims itself
It’s been for sale for nearly a decade. On April 8 at the Jacksonville Marriott, the property and about 30 others will be offered at auction.
Put on by Colliers Dickinson and United Country Certified Real Estate, the auctioneers hope that the event will bring together willing buyers with money to spend and the agents who have properties for sale.
There are several homes on the list as well as small office buildings and condominiums across Northeast Florida and Southeast Georgia area.
Gary Montour is handling the auction from the Colliers Dickinson side while Myers Jackson is the representative for United Country. Jackson is based in Albany, Ga., but his company has offices all over the country.
“I am pretty much coordinating all the local functions,” said
Montour, adding that includes marketing and managing the auction Web site, which is www.april8auction.com.
What the properties sell for will depend on the type of buyer who shows up.
“You always hope to sell at least half,” he said. “We have one of these scheduled for every 90 days. The next one should be bigger.”
Jackson, who has held dozens of similar auctions across the country, said he has been “fielding calls left and right” since the auction was first advertised.
“It does indicate interest,” he said. “One of the major aspects of the auction is to create interest from buyers.”
Montour and Jackson don’t know exactly what to expect April 8, how many people will show, who will attend and how property will actually be sold.
“This is the first one in North Florida of this magnitude,” said Jackson. “Our last auction in Tennessee drew over 200 people, but that is no indication. Jacksonville could be 30 to 40. It could be 300, if the feedback is good.”
Jackson said one of the more interesting elements of the auctions is what the properties sell for as opposed to their market value and the asking price. He said potential buyers tend to do their research, spending time on the Web sites of property appraisers.
“How much a property is worth depends on who is buying it and who is a good fit for the property,” said Jackson. “For example, the seller may want $100,000 and in their mind that’s a good price. But, if the high bid is $87,000, or if it’s 10 to 12 percent below what the seller was thinking, they will have a decision to make. There is a lot of homework done.”
He said “all of those questions will be answered April 8.”
Montour said a family relationship between the two companies helped facilitate the auction. The owner of United Country and one of the top executives at Colliers International, which is based in Houston, are brothers.
“They (United Country) do 30 to 40 auctions a year. They are the largest auctioneer in the country,” said Montour. “Right now, we are looking for people with money who want to spend it. These are real estate junkies. They come to the auctions knowing they are going to get a good deal.”
In addition to existing buildings, the auction will include development land, income properties and investment properties. The auction Web site also includes photos of the properties that will be available.
The day before the auction, there’s a bidder awareness seminar from 2 p.m. to 4 p.m. at the Marriott. Registration begins at 8 a.m. April 8 and the auction begins at 10 a.m.
356-2466