Auction: Landmark Island House Restaurant, Deep Water Marina, Bait & Tackle Shop to be Sold at Auction: Last Listed for $1,950,000 - Suggested Opening Bid $875,000

VIRGINIA BEACH, Va., July 13 /PRNewswire/ -- Retirement auction, family says SELL! Located on Virginia's Eastern Shore, this operating landmark restaurant, deep water marina, and legendary bait & tackle shop will be sold at auction on-site at 12 noon on August 21, 2010. Last Listed for $1,950,000, the suggested opening bid has been set at $875,000.

The Island House Restaurant & Marina has been in business for over 35 years overlooking the Wachapreague waterfront and the barrier islands of Virginia's Eastern Shore. Designed after the Paramore Island Life Savings Station, the 225 seat restaurant provides million dollar views for lunch, dinner, wedding receptions, banquets, and parties. The recently completed cozy island style bar with light fare menu and outside deck compliments the famous restaurant. Captain Zed's Bait and Tackle shop provides top of the line fishing and marine products, fuel, boat ramp access, slip and boat rentals. The building complex of over 8000 Square feet, land, docks, slips, furniture, and equipment and all businesses are all included in the auction.

If you have been searching for an income-producing property, don't miss this singular opportunity to buy 3 businesses in 1 location.  Information may be obtained by downloading a package of information at www.tranzon.com.

Tranzon Fox, with offices in Virginia (VAAF 423), North Carolina, Maryland, and the DC Metro area, is a member Company of Tranzon, L.L.C., and is a full-service auction and real estate disposition company.  Tranzon has completed over $1 billion of real estate auction sales since its founding in 2000. For more information about this auction or to learn more about Tranzon visit www.tranzon.com.

SOURCE Tranzon Fox