Make us your home page

City block to hit auction block

Premier Auction Group will auction the property at 3660 22nd Ave. S in St. Petersburg on Aug. 20.

JAKE MAY | Times

Premier Auction Group will auction the property at 3660 22nd Ave. S in St. Petersburg on Aug. 20.

ST. PETERSBURG — Although property auctions are gaining popularity in the Tampa Bay area, it's practically unheard of for the equivalent of a city block to be on the market.

Premier Auction Group is hosting the auction of a St. Petersburg property whose size is equivalent to that of a city block on 22nd Avenue S between 36th and 37th streets.

The 2,500-square-foot building on the site was last used as an art gallery, Tribu, with gardens in back. The Times wrote in early 2007 that Kevin Ritter and John Rymer, art wholesalers from Ohio, bought the building in July 2005 and worked on it for two years before opening Tribu.

They said they felt a pull from Childs Park. "Every time we started to leave," Rymer said, "it just didn't feel right."

The property changed hands this past April.

A bidding war can help the seller, said Brett Kennedy of Kennedy Brothers Auction in St. Petersburg.

Selling property through an auction seems a little risky and does have its disadvantages, but it turns out it may be a smart decision, he said. The property in St. Petersburg will be sold in a live reserve auction.

A reserve auction allows sellers to set a price below which they do not want to go.

The reserve price is usually not disclosed to the public. If the highest bid is lower than the reserve, the seller has the option to allow the property to sell at that bid.

Vincent Gepp, the auctioneer for this property, said "reserves are a safety mechanism," the final bids can and do come in below the reserve, but this base price allows the seller the freedom to choose whether to make a sale.

Bill Hofacker of Hofacker and Associates said "there is no rhyme or reason to how much (a property) sells for" in an auction. But live auctions can bring out bidders' competitive side, taking the bids well above the market price or reserve, according to auctioneer Brett Kennedy.

Gepp, the auctioneer for this sale, said there is only so much one can do to market a property.

"It's that piece of property standing on its own merit in front of potential buyers" that ultimately gets results.

The property is classified as a NT4 (neighborhood transitional), which allows the space to be used for such things as a professional office or small cafe.

The property is 200 feet across, between 36th and 37th avenues, and 110 feet deep, which equals half an acre of land.

The auction is set to begin at 11 a.m. Aug. 20, with the option to arrive as early as 9 a.m. to inspect the property at 3660 22nd Ave. S. Gepp said he does not know how many bidders to expect. "You never know until that day."

Hofacker said "auctioning is an art form," but "there is no way of knowing what the outcome is going to be."

Emily Rieman can be reached at (727) 893-8215 or [email protected]

>>at a glance

Seeking bids

When: Auction at 11 a.m.

Aug. 20.

What: Property at 3660 22nd Ave. S, the equivalent of an entire city block measuring 200 feet wide and 110 feet deep.

Information: Go to or call 785-4300.

City block to hit auction block

08/02/08 [Last modified: Friday, August 8, 2008 8:09pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. Carrollwood fitness center employs scientific protocol to help clients


    In 2005, Al Roach and Virginia Phillips, husband and wife, opened 20 Minutes to Fitness in Lakewood Ranch, and last month they opened the doors to their new location in Carrollwood.

    Preston Fisher, a personal fitness coach at 20 Minutes To Fitness, stands with an iPad while general manager/owner Angela Begin conducts an equipment demonstration. The iPad is used to track each client's information and progress. I also included one shot of just the equipment. The center recently opened in Carrollwood. Photo by Danielle Hauser.
  2. Olive Tree branches out to Wesley Chapel


    WESLEY CHAPEL — When it came time to open a second location of The Olive Tree, owners John and Donna Woelfel, decided that Wesley Chapel was the perfect place.

    The Olive Tree expands its offerings of "ultra premium?€ extra virgin olive oils (EVOO) to a second location in Wesley Chapel. Photo by Danielle Hauser.
  3. Massachusetts firm buys Tampa's Element apartment tower

    Real Estate

    TAMPA — Downtown Tampa's Element apartment tower sold this week to a Massachusetts-based real estate investment company that plans to upgrade the skyscraper's amenities and operate it long-term as a rental community.

    The Element apartment high-rise at 808 N Franklin St. in downtown Tampa has been sold to a Northland Investment Corp., a Massachusetts-based real estate investment company. JIM DAMASKE  |  Times
  4. New York town approves Legoland proposal


    GOSHEN, N.Y. — New York is one step closer to a Lego dreamland. Goshen, a small town about fifty miles northwest of the Big Apple, has approved the site plan for a $500 million Legoland amusement park.

    A small New York town, Goshen approved the site plan for a $500 million Legoland amusement park. Legoland Florida is in Winter Haven. [Times file  photo]
  5. Jordan Park to get $20 million makeover and new senior housing

    Real Estate


    Times Staff Writer

    ST. PETERSBURG —The St. Petersburg Housing Authority, which bought back the troubled Jordan Park public housing complex this year, plans to spend about $20 million to improve the 237-unit property and construct a new three-story building for …

    Jordan Park, the historic public housing complex, is back in the hands of the St. Petersburg Housing Authority. The agency is working to improve the 237-unit complex. But the latest plan to build a new three-story building for seniors will mean 31 families have to find new homes. [LARA CERRI   |   Tampa Bay Times]