Chops Property

Discussion in 'Discussion Group' started by jlc007, May 28, 2016.

  1. jesse82nc

    jesse82nc Well-Known Member

    It was for sale back in 2011 for $1.7M and last year for $1M.

    It's only 2.2 acres. But assessed at about $1M, with the building being $511k and the property $488k. I don't see the property being worth that.
  2. poppin cork

    poppin cork Well-Known Member

    I don't think so either. Evidently nobody with the means to purchase it thinks so.
  3. Auxie

    Auxie Well-Known Member

    You doubt our County Tax Assessor?
    It does look like a nice building from the outside, but I wonder what the value will be in another 7 years.
  4. jesse82nc

    jesse82nc Well-Known Member

    It's been vacant for what, 8 years? It must at the least be a bit dated inside. All of the equipment in there is at least 10 years old and has not been used in the past 8. It's not terribly big, I just don't see half a million in that building. And I don't think that area supports $200k an acre.
    Auxie likes this.
  5. WadeCorbett

    WadeCorbett Well-Known Member

    It's worth mentioning that the two, 1 acre parcels adjacent to this property sold in 2012 for $210,000. The adjacent, smaller building sold for $600,000 in 2016.
    lgb0250 likes this.
  6. youwish2bme

    youwish2bme Well-Known Member

    I think it's funny that so many people think they know what the owner values the property at. It's obvious that the Owner of the property sees it as an investment that he/she is not willing to let go of at a price that is not what they want. If the property owner is not worried about a $1M asset I'm sure those posting can't see the opportunity available...

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