The City of Santa Barbara will sell the property located at 20 S. Milpas Street in a sealed bid auction on July 19, 2012. The 10,890 square foot parcel, which served as the parking lot for the erstwhile post office next door, is across the street from the busy Milpas Shopping Center (Trader Joe’s) and adjacent to Highway 101.

“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, christos@hayescommercial.com
Francois DeJohn, 805-898-4365, fran@hayescommercial.com