Dubbed as the first bank-owned online real estate auction in this New Mexico town, FRE.com looks for a buyer for the Hillside Plaza, a multi-tenant retail center
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Alamogordo, NM – Located along the busy Tenth Street corridor in downtown Alamogordo sits an investment opportunity summoning buyers with its unique selling method – an online auction. As the first ever online auction of property in this small New Mexico town, Hillside Plaza is currently owned by a bank that is very motivated to sell it as evident by the minimum bid.
“It may seem a bit over the top to conduct an online auction for a property located in a small town such as Alamogordo, but there are plenty of buyers out there, nationally and internationally, who are looking for any good real estate deal”, states LFC’s Director of Operations Ryan Devin. “Why limit the pool of potential buyers to just those within a small radius? At the end of the day the bank wants a buyer, whether they are from Alamogordo, New Mexico or Florida, or even Canada – it’s a matter of concluding the auction with a successful sale. ”
As an alternative choice to a traditional real estate sale, online auctions can be particularly effective for sellers wanting to dispose of their property but are not willing to chase the market. An auction creates a trading platform that brings the buyer and seller together in such a way that fair market value is realized
The bank-owned building is approximately 32,000 square feet and on over 1.63 acres of land. It carries a C-3 business zoning and is partially occupied with some leases in place through 2014. It is centrally located and has great street frontage and accessibility. The minimum bid is $350,000 with all bids to be submitted by February 9th.
Alamogordo is located in the southern portion of New Mexico, approximately 70 miles from Las Cruces.
As with all of auctions on the Freedom Realty Exchange website, property research, due diligence and even bidding are conducted completely online, removing the inconvenience and unwanted pressure that comes with a traditional outcry auction. Interested buyers can access property documents and auction details by visiting FRE.com/115R2.
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The Freedom Realty Exchange®
The Freedom Realty Exchange is owned and managed by LFC Internet Marketing, Inc., a member of the LFC Group of Companies. For more than 30 years, the LFC Group of Companies has successfully auction marketed thousands of commercial, industrial, land and residential properties, with sales in excess of $5 billion; and for the last seven years, we have conducted real estate auctions exclusively online. We have successfully served numerous Fortune 500 companies, real estate developers, investors, financial institutions, government agencies and real estate brokerages, providing a complete suite of real estate disposition strategies and auction marketing programs for commercial and residential property and mortgage notes.
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