Income-producing buildings and land set for February auction

MILLERS CREEK, N.C., Jan. 25, 2019 /PRNewswire/ -- The buildings currently occupied by a bank branch, a post office, an auto repair shop and other businesses will be sold in an upcoming online auction. The buildings on 3.53 acres are being marketed by Iron Horse Auction.

The property is selling by order of the trustee for the U.S. Bankruptcy Court, Western District of North Carolina. Online bidding will open at www.ironhorseauction.com at 8 a.m. Tuesday, Feb. 5, and continue until noon Tuesday, Feb. 12.

"This a remarkable auction in that it includes a diverse group of income-producing properties," said Will Lilly, who is managing the auction for Iron Horse. "The bank branch, the post office and the auto repair shop are all stand-alone buildings that are currently occupied and generating income. The shopping center has a pawn shop, a thrift store, a coffee shop and a pharmacy, occupying all but one of the spaces," he said.

Financial details and lease information will be provided to prospective bidders by request.

The property is located at The Crossroads in Millers Creek, North Carolina. Auction personnel will be available at 2958 NC-16, Millers Creek, NC 28651, from 10 a.m. to 2 p.m. Tuesday, Feb. 5, and from 10 a.m. to noon Tuesday, Feb. 12, to accommodate inspections and provide detailed information.

The inspection center will also serve as a Bid Center where auction personnel will be available to provide detailed information and assist bidders with the bid process beginning at 10 a.m. Tuesday, Feb. 12 and continuing until the close of the auction.

"The buyer will have several options. One is to simply enjoy the income off the property, which has been historically stable. Another possibility is to subdivide one or more of the buildings and sell them individually. Finally, there could be potential for building something entirely new or expanding the shopping center," said Lilly.

Individuals seeking additional information may visit ironhorseauction.com or call 910-997-2248.

For more information:
Carl Carter, 205-910-1952

SOURCE Iron Horse Auction Company

Related Links

http://www.ironhorseauction.com

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