SIPPICAN WEEK - Spring Street commercial property sold for $450,000 at auction
By Matthew Bernat |
Jul 23, 2015
MARION - Two commercial properties in the
Marionsold at auction Wednesday for $450,000 to a yet to be identified buyer.
The lots are
located at 173 and 177 Spring St. and were sold together as a 1.35-acre parcel.
Formerly home to a hardware store, café and ice cream shop throughout its
history, the site is adjacent to the Sippican Café.
people, including five registered bidders, curious developers and one
Selectman, attended the 11 a.m. auction at the corner of Spring Street and
president of JJ Manning Auctioneers, started the bidding at $400,000 after
touting the site as being a "high traffic, high visibility property close to
Harbor...It's gorgeous down here."
Previously owned by
John Sweeney, the property was last assessed at $496,000. It's most recent
listing price was $799,000.
The winning bid was
the auction's sole bid, made by Marion Attorney David Titus on behalf of an
Cumberland Farms and Dunkin' Donuts, the parcel is also near a newly proposed
gas station and retail development on Route 6.
The lot is zoned
general business and includes 205 feet of frontage.
In order to
participate in the auction, bidders needed a 10 percent deposit of which
$25,000 must have been cash, certified or bank check.