Thanks for another great post...for those just starting to research the company, I've copied a previous post with the Polk County website. Go to property search and put Distribution Management Services as the owner, you'll see all the lots in question and their appriased value.
I've done some research on the housing market in FL. While the overall outlook is not great, it seems that the market is stronger for homes valued in the range of those that would be built on these sites.
I'm sold and will continue to add at these levels.
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www.polkpa.org has a wealth of information. A little summary of what I found (I am not in real estate and this is “back of the envelope” thinking at best)
Most of the lots in questions are assessed at $30-$40k (and have DMGS listed as the owner). The LOI indicates that the sale would include building struts, rights-of-way, easements, permits, entitlements, fixed assets, contracts, licenses, approvals. Which could easily warrant $50k per lot.
Homes in the same tax district as these lots seem to be in the $170K-$200K range and the last sale is generally a bit higher than the assessed value (which falls in line with the proposed sale for DMGS).
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