The Avalon Sunoco Gas Station is closed. The repair crew is relocating to the end of Avalon Blvd. The 220′ X 110′ parcel is owned by Sun Oil. Not certain of their plans for the site.
Henny’s Restaurant is closing, too. The liquor license was sold to the owner of the Shelter Haven project (corner of 96th and Third Avenue). Best guess is that Henny’s will be torn down and replaced with retail shops on the lower level, with residential condos above. The Shelter Haven parcel has been vacant for many years- so it will be a step forward to see it improved.
The restaurant addition next to Fred’s Liquor Store is still in limbo. We were looking forward to another quality eating establishment along 96th Street- maybe next year.
             
Prices and Percentages
I follow a segment of the Florida market, and have watched values drop 20% from the height in 2005.  The property that I own was purchased in 2001, and even with the decline, has increased in value an average of 10% per year- so still a good investment. Plus, the intangible benefit of personal use.
We have experienced a similar trend at the Jersey Shore. The peak of our market was late 2004 through 2005. Values have dropped an average of 20% from the peak- with exceptions for unique locations. New construction remains the most popular real estate in our market, and has maintained a stronger position- down just 10%.
Future? I am confident in my Florida location because it’s located in a “name brand” community. I feel the same about my year round home here on the island. Both are popular areas and will continue to attract interested buyers who want to own in beautiful locations!