auctions today

[Smiling JOe]

I heard that the Grayton Oasis property auctioned today for $515,000 with only the original builder and one other person bidding. They stole that property for that price, even with the 10% buyers' premium. That is less than $200/sf for a commercial property in the Grayton area. :shock:

It once last listed at $1.48M (mls 414652)

 

[Indigo Jill]

Thanks for the info, SJ! I wish I had more cash. I can't believe that price..lucky b%$&*(ds!

 

[fisher]

I heard that the Grayton Oasis property auctioned today for $515,000 with only the original builder and one other person bidding. They stole that property for that price, even with the 10% buyers' premium. That is less than $200/sf for a commercial property in the Grayton area. :shock:

It once last listed at $1.48M (mls 414652)

It's only a good deal if the buyer can find a business or businesses to rent the vacant space for $5,000 or more per month. That space has been vacant for quite some time and the former tenants did not appear to be very successful.

 

[Smiling JOe]

It's only a good deal if the buyer can find a business or businesses to rent the vacant space for $5,000 or more per month. That space has been vacant for quite some time and the former tenants did not appear to be very successful.

The former occupant/owner was trying to run a bakery and restaurant out of the building. If you know about restaurant marketing, you know the first three words are location, location, location.

I understand the other bidder was a doctor who was looking to move her practice. That location would be perfect for a doctor's office.

 

[GoodWitch58]

did the doctor get it? I think that's my doctor:clap_1:

 

[tistheseason]

where was Dr. Skunky????????????????

 

[Kurt]

Would be great for any professional office.

 

[Smiling JOe]

did the doctor get it? I think that's my doctor:clap_1:

No, she had done her homework and knew what numbers worked for her business, and more importantly, knew what numbers didn't work. She set her max price and stuck with it.

 

[Sandcastle]

Thanks SJ. I was curious about that property. I believe that it was once listed for $2.5 million. Isn?t the selling price about the same as the asking price for vacant lots in the area?

 

[Smiling JOe]

Thanks SJ. I was curious about that property. I believe that it was once listed for $2.5 million. Isn?t the selling price about the same as the asking price for vacant lots in the area?

Sorry about that. In the first post I made, which I can no longer edit, I transversed two numbers in the MLS #. The correct MLS number for the last time it was listed was 414562.

In April '05, the property first came on the market, listed at $2.5 M. The sellers went through three different agents before the auction, changing the price from $2.5M > $1.9M > $1.48M, before trying to lease it at $6450 per month.

The property is roughly .4 acres though I believe some of the back side may be wet (not sure), and yes, if you find a commercial or mixed use lot in the area of that size, you will have to pay around $400K-$500K to purchase it. As I said, the buyer stole it at that price.