Q2 Coastal Commercial Auction Success
During the 2nd Quarter of 2017, JJManning Auctioneers continued
to build upon their long history of success selling commercial properties in
coastal Massachusetts with the following sales:
On March 16th, a former 5-pump gas station located on
.65+/- acres at the intersection of Routes 6A & 134 in East Dennis, MA drew
5 bidders to a Mortgagee's Foreclosure auction wherein this property, tax
assessed at $532,800, was sold for $555,000.
The sale closed quickly and the station was successfully reopened for
business before the end of June to capture the traffic passing this busy site
on route to Sesuit Harbor and other popular Cape Cod destinations.
On June 1st, a Mortgagee's Foreclosure auction for the 29,952+/-
sf. 3-story historic "O'Shea Building" attracted 9 bidders each with a $50,000
certified deposit in hand to compete for this partially gutted vacant landmark
built in 1906. The redevelopment
property, tax assessed by the City of Peabody at $972,900, was sold for $1.47
Million in heated bidding with the buyer being responsible for an additional
$26,000+/- in municipal liens on top of their bid.
On June 21st, a gas/service station known as "Bay Village
Auto" on .65+/- acres at the Buzzards Bay Rotary in the Bourne, MA. This Growth Incentive Zone gateway property
sold turn-key on behalf of the retiring owner caught the attention of 5 bidders
whose lively competition drove the sales price to $990,000 with the successful
local buyer providing a $25,000 certified deposit that was increased to a full
10% within 3 days.
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