Spina Realty & FRE.com Presents:

 A luxury waterfront estate in Bonita Bay is being auctioned off online. The minimum bid is $3.9 million for the 4-bedroom, 7-bathroom home, with a suggested value of $4.85 million.

The property features a resort-style pool, home theater, gym and private sturdy, situated on over half an acre.

The auction by FRE.com aims to attract a wider range of buyers and expedite the sale for the motivated seller.

• A luxury waterfront estate in Bonita Bay is being auctioned off online, a first for the community.
• The minimum bid is $3.9 million for the four-bedroom, seven-bathroom home, with a suggested value of $4.85 million.
• The property features a resort-style pool, home theater, gym, and private study, situated on over half an acre.
• The auction aims to attract a wider range of buyers and expedite the sale for the motivated seller.

As part of a growing trend, an ultra-luxury waterfront estate in Bonita Bay has been put on the auction block.

The estate has been offered up via an online auction.

The local broker says it's a first for Bonita Bay, the 2,400-acre, golf-oriented, gated community in Bonita Springs that opened for sales in 1985.

FRE Auctions is doing the auction, in partnership with Spina Realty Company, the broker. In a crowded market, they say it's a transparent, efficient and competitive way to buy and sell one-of-a-kind real estate.

"It's a very expensive house, actually," said Corrie Brashars, an auction specialist for FRE, headquartered in California.

A minimum bid of $3.9 million is required, with a suggested value of $4.85 million.

“This approach has worked for some of the most exclusive estates worldwide, and now we’re bringing that same opportunity to Bonita Bay, a community known for its exclusivity and prestige," said Bill Lange, CEO at FRE Auctions.

The estate, located in Bonita Springs, is described as "a showcase of luxury and design." It sits on a more than half-acre lot at the end of a cul-de-sac, with unobstructed waterfront views.

Built by Harwick Homes in 1994, the 7,838-square-foot residence has four bedrooms and seven bathrooms, including two half-baths. It has a home theater, gym and private study.

One of its most unique offerings: A resort-style pool that includes waterfalls and a swim-up bar ― and has been featured in Naples Illustrated Magazine.

"The pool is almost like a water park," Brashars said. "I mean you are living in your own little theme park. It's all covered."

The auction and the marketing and advertising that goes with it are a way to get the property in front of more eyes and drum up more interest, not just in Florida, but beyond.

"A property like this is very difficult to value because it's so unique. It's got all these attributes," Lange said.

He added: "Some people would find a private theme park of interest. Others would say, 'What is this?'"

At the minimum price, the property would be an "absolute steal," Lange said.

"Somebody is potentially going to get a super, super deal, which is the whole idea of the auction," he said.

The property has been on the market for more than 18 months. It has 16,000 square feet of combined indoor/outdoor living space.

"The local broker who has the listing had it at $5 million, and he had interest in it, but the seller is highly motivated. They've moved out of the area now," Lange said.

Since word has gotten out about the auction, he said, the website for it has taken "lots and lots of hits," driven by the opening bid price.

"That has lit it up," Lange said, with thousands of visits.

At least one offer fell through before the owners decided to auction off the property, he said, but he didn't know the specifics, as it "wasn't on his watch."

"For whatever reasons, it didn't sell. And we've got a seller that is saying 'sell it,' and we're going to sell it," Lange said.

The auction involves staggered marketing, including paid advertising and social media, which are working very well, with unique features to showcase, especially the pool, said Matt Collaco, with LFC Communications Inc., who is involved in the publicity effort.

"It really seems to be well received," he said of the property.

Bids are due by 5 p.m. May 1. A deposit of $1,000 is required to bid.

Interested buyers can place their bid now, or "one minute before the bid deadline," Lange said.

"We do reserve auctions, so it has to do both with price and terms," he said.

For example, a cash buyer, who can close faster, is seen as more favorable than one who needs or wants financing, which could drag out a closing.

Private tours can be scheduled, with the final open houses planned for April 27, from 1 to 4 p.m.

Broker Christopher Spina, owner of Spina Realty Company, said the residence is "more than just a place to live."

“Bonita Bay is one of Southwest Florida’s most desirable private communities, and opportunities like this almost never come to market ― especially not at auction," he said. "We’re seeing significant interest from buyers who recognize just how rare this offering is.”