Zoned B-1 Business Zone
$249,000 Minimum Bid
Ohio | Indiana | Minnesota | Pennsylvania
Wisconsin | Illinois | Michigan | Idaho
Minimum Bids as low as $10,000
This real estate auction, featuring a development site of approximately 43 acres, sits on the westerly side of Grove City, which is considered one of the faster growing suburbs of the City of Columbus. About 8 miles southwest of the Columbus Central Business District, this development site is located directly across from the Central Crossing School Complex (Central Crossing High School and Holt Crossing Intermediate School) and South-Western Career Academy near the intersection of Holt Road and Big Run South Road.
The zoning on this parcel is split; CPD (Commercial Planned Development) for the frontage and multi-family for the rear portion, affording itself to a unique development opportunity of retail shopping and apartments or condominiums.
Attracting much interest from local homebuilders, developers and real estate investors, the online auction on the Freedom Realty Exchange (FRE.com) delivers a fair and competitive online bidding process which will bring true market value to the property and the seller.
“The inventory levels of similar land is high, but when a seller such as this bank steps up and sets a minimum bid well below market value, it’s hard for buyers to ignore”, states Ryan Devin with the auction company.
As an alternative choice to a traditional real estate sale, online auctions can be particularly effective for financial institutions that want to, or need to, get the inventory off their books quickly and believe that the auction creates a trading platform bringing buyer and seller together in such a way that fair market value is realized. Evident by the minimum bid of $499,000, less than $12,000 per acre, the bank is very motivated to sell.
“We have had a good response from interested parties, mostly local builders and investors, but also some from out of state, who see the upside in purchasing at a discount, waiting until the market turns and then being in a great position to take advantage of it”, states Devin.
As with all of auctions on the Freedom Realty Exchange website, property research, due diligence and 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. Bids must be submitted by April 26th.
About LFC Communications, Inc.
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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Though the weather outside is frightful, this hot deal is delightful for any CRE investor looking for a new opportunity. With the Bid Deadline for a former auto dealership in Columbus, Ohio just 1 week away, we want to fill you in on all the details.
This +/-35,471 SF facility on approximately 8.96 acres is comprised of three buildings:
Like all of our commercial auctions, we post all available documents provided by the seller on our website. This way, you can perform your due diligence from anywhere you get an internet connection.
The Bid Deadline is 8:00 PMEST on December 17th. You can view all of the property details and documents at LFC.com
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About this author: Casey Flynn is the Communications Manager for the LFC Group of Companies. He also coauthors on ResidentialRealEstateAuctions.com and RealEstateNoteAuctions.com
Nation Wide Commercial Property For Sale
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Columbus Ohio Commercial Buildings For Sale
LFC Auction #751-1 | 4000 W. Broad Street, Columbus, OH
Property Details:
Size: 70,942 / 8.96 acres
Location: Columbus, Ohio
Minimum Bid: $599,000
This 35,471 square foot facility is comprised of 3 buildings, a 19,622 SF showroom built in 1971, a 1,449 SF used car building built in 1984 and a 14,400 SF body shop built in 1994. The site consists of approximately 8.96 acres. The entire site is paved with asphalt and the property is zoned “Community Service” (CS) with a variety of uses.
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