The owner of a Longwood auto body shop has paid $1.15 million for two industrial buildings about five miles from his business and is torn between moving his body shop to the site or using it as an investment property given tenant interest.
Alexey Kryuchkov bought the 2.29-acre property at 150 Hope St. from Earnest Properties, whose principal is Bryan Earnest of Sanford. The property is located on the east side of Mingo Trail, south of SR 434 and west of Florida Central Parkway in Longwood.
Earnest is the owner of sheet metal fabrication concern Earnest Products, which was located at the site for many years and last year moved operations to Sanford.
Kryuchkov bought the property, which contains 42,000 square feet of warehouse space, through AK American Investments LLC, property records show.
Kryuchkov said he initially planned to move his Longwood-headquartered Winter Springs Collision Repair business down the road to the site.
But he then began receiving expressions of interest for the industrial space, which he plans to break into roughly 1,750-square-foot spaces and above, and also considered the roughly $200,000 it would take to move his collision business to the new site. Given those factors, Kryuchkov said he began leaning toward "keeping it as an investment property."
A lot of people "are looking at the property as tenants to rent it out," Kryuchkov said. He declined to discuss potential tenants by name.
Kryuchkov said he still hasn't finalized his plans, given he just bought the parcel Nov. 2, and it is three times the size of his auto collision business, which could use space.
He bought the site, which was built in 1972, for below its asking price of $1.385 million.
Right now, 15,000 square feet, or roughly three-quarters of one building, is leased to Zsolt Granite Corp., a kitchen remodeling concern. A storage business occupies about 5,000 square feet of the other building.
Wilson McDowell of Cite Partners represented the seller in the transaction. Kryuchkov did not have any representation as the buyer.
Before the latest sale, the property sold for $800,000 in 2000.