“With split C-2 and M-1 zoning, the property could be developed for a variety of commercial and even residential uses; however, given the location it’s better suited for a purely commercial development,” said Christos Celmayster of Hayes Commercial Group. He and Francois DeJohn, also of Hayes Commercial, are representing the city in the sale.
The minimum bid is $500,000, and sealed bids can be delivered to the Hayes Commercial Group office until 5:00 PM on July 18 or submitted at the bid reading. Bids will be opened and read publicly at the City Purchasing Office at 10:00 AM on July 19, at which time citizens showing adequate proof of funds and in possession of a cashiers check deposit of $25,000 may “overbid” the sealed bids.
Prospective buyers are advised to consult the full terms of the auction pursuant to Municipal Code Chapter 4.28. Contact the listing agents for complete details and to receive the bid package:
Christos Celmayster, 805-898-4388, Email
Francois DeJohn, 805-898-4365, Email
Offering Type: Sealed bid auction (Municipal Code Chapter 4.28)
Auction Date: July 19, 2012
Property Type: Commercial land
Address: 20 S. Milpas St, Santa Barbara
Size: 10,890 sf
Minimum bid: $500,000
Bid Package: Available; contact brokers
Seller: City of Santa Barbara
Brokers: Francois DeJohn and Christos Celmayster, Hayes Commercial Group