The family owners of an automotive service property in Downtown Orlando's Parramore neighborhood are pursuing demolition on a portion of it, and considering whether to rent to an existing tenant or test the sale market.
Robert Gentry III built his family's retail business Automotive One Parts Stores, Inc., into a chain of more than 30 stores across Central Florida through the late 1990s before the business was sold, and properties liquidated over the decade that followed.
Gentry III died in March 2016, and his family has now sold all but three of the former store investment properties, son Robert H. Gentry IV told GrowthSpotter on Monday.
The property in question totals 0.63 acres at 1014-1000 W. Central Blvd., on the southwest corner with S. Westmoreland Drive and a block west of Orlando City Soccer Stadium.
A 0.15-acre parcel (no. 1014) has a dilapidated metal shed formerly used by an auto repair business that was damaged by storm winds roughly 10 years ago, Gentry said.
The family applied for a permit to demolish this in mid-July and place a fence around the property, following a mandate by the city of Orlando to do so or bring the building up to code.
The family has a standing request to lease that land to the tenant on its larger 0.48-acre parcel directly east, Creative Automotive Mechanical Service (CAMS), which would use it for storage, Gentry said.
CAMS has a few years remaining on its lease, he added, and holds first right of refusal if the small neighboring parcel draws a purchase offer.
Gentry said his family is inclined to rent the small parcel to CAMS for continuity, but is open to unsolicited purchase offers for the entire 0.63-acre property.
The family is not currently listing the property or working with any commercial real estate broker, he added.