Ybor fish market , empty lot expected to fetch top dollar

 

2005 in an area where street parking is scarce, the s. agliano & sons fish co. is one of ybor city's only seventh ave storfronts to come with a vacant land, making it prime real estate.

The agliano family announced plans to close the business and sell the property Tuesday, but suitors had been making offers for quite some time.

Now the offers are rolling in. interested buyers' plan include opening a restaurant, building condominiums and erecting a hotel behind the existing building.

Real estate experts say the two pieces of property together could sell for $1 million or more, although the property appraised much lower. But what kind of business will take the fish market's place?. And how could it change the atmosphere in historic district struggling to shed its party reputation?

Vince Pardo, president of the ybor city development corp., said several hotel chains have offered to buy the property over the past three years. Some wanted to build a hotel abutting the fish market building and use the storefront as an entrance.

All new construction in ybor city's historic district has to be approved by the barrio latino commision, which strives to make sure changes fit ybor's character. Tearing down historic buildings is prohibited.

Thats another reason, pardo said that the aglianos' vacant land is so attractive to developers.

Rick wolfe, the broker representing the family, said his clients decided against an asking price because they feared it could value the property too low. Instead, they will entertain offers.

The family also hasn't decided whether to sell as a package the 3,104 square-foot building at 1821 e. seventh ave and the 26,600 -square-foot property behind it.

One potential buyer, wolf said, is someone involved with the nearby italian club who wants to use the vacant land as parking for the social club.

Another interested buyer, he said is a prominent ybor city restaurateur who might want to open another restaurant. One developer has discussed a mixed-use project of retail and residential.

"right now, we can't say what the highest and best use of the property is, said wolf & associates inc. as the seller's representative, wolfe said he will discuss options with ybor city development groups before the aglianos accept an offer.

Stephanie agliano whose mother took over the business last year after her husband died, serves on the boards of the ybor city chamber of commerce and the ybor city development corp.

while the closing of the landmark market is particularly sad for her, the open storefront should be viewed as an opportunity for the ybor city.

"you have to step back and say, gee what doe we need to fill in the blank? "agliano said.

The agliano building is wet zoned, which means it could become a bar. Some worry that another bar or restaurant would hinder the city's efforts to diversify ybor's business and attract an older clientele.

The hillsborough county property appraiser values the building at $164,038, though its appraisals traditionally are much lower than market value.

Bob zegota, of grubb & ellis commercial real estate, has been involved in other ybor sales and said land along seventh ave is selling for about $15 to $20 a square foot, which would bring the value of the two properties to just less than $600,000. Zegota said he wouldn't be surprised, though, if the agliano property sells for much more.

The vacant land behind the building could be worth more than the building itself, zegota said. Its prime propety."

COPYRIGHT 1998-2015 J&V SERVICES INC. ALL RIGHTS RESERVED

NO REPRODUCTION OR PUBLICATION WITH OUT WRITTEN PERMISSION NEITHER J&V SERVICES NOR ANY AFFILATE OR SUBSIDARY THER OF WILL BE RESPONSIBLE FOR THIRD PARTY MATERIAL