Jefferson College is looking to sell 24.33 acres of land it owns in Byrnes Mill.
The college’s Board of Trustees voted 4-0 Feb. 10 to list the land for sale through real estate broker Stephen F. Bahn Commercial Real Estate Services.
The listing price is $625,000, and the broker is to receive a 6 percent commission on the sale.
The property, which the college purchased for $2 million from David Ault in 2006, is in the southeast quadrant of Hwy. 30 and Gravois Road. There are no structures on the property.
President Dena McCaffrey said college officials never developed the property and decided there is no need to keep it.
“I don’t know that there was ever a plan for the property,” McCaffrey said. “The area just hasn’t developed to invest in site work to even consider development.”
Darryl Gehbauer, Jefferson College vice president of finances and administration, said the $625,000 asking price for the property is consistent with the going rate for property in the area.
“This is representative of the current market value,” he said.
Ault, developer of Fox Run Golf Club in Eureka, has maintained a relationship with the college since he sold the Byrnes Mill property to the college, Gehbauer said.
“We (later) got a bequest from David Ault,” he said. “The Jefferson Foundation received a house from him at Fox Run Golf Club.”
The college holds fundraisers and other events at the house on the golf course.
Board members Gary Davis and Margie Passmore did not attend the Feb. 10 meeting.