National Commercial Auctioneers to Conduct Bank Owned Real Estate Auctions of Properties in Minneapolis Area on July 26

TULSA, Okla., July 6, 2011 /PRNewswire/ -- National Commercial Auctioneers [www.natcomauctions.com] announces a real estate auction to sell bank owned properties in the Minneapolis, Minn., metro area, on July 26, 2011, according to Paul McCartan, Broker/Auctioneer.

"These properties are selling at absolute auction," explained McCartan. "That means they will sell to the highest bidder on auction day."

Located at 4401 County Road 42 in Savage, Minn., the first property is a one-story retail office space built in 2000  with 6,958 sq. ft. on 1.02 acres with frontage and signage on County Road 42 as well as a large bituminous parking lot with approximately 45 spaces. The security system and wet sprinkler system convey with the property.

"This is a quality construction in a highly visible and rapidly growing area," said McCartan. "There are multiple tenant options available with this property's three retail spaces and common area."

The second property up for bids is a bank-owned single tenant restaurant on 0.10 acre lot with 6,555 sq. ft. and a seating capacity of 111 people. Built in 1911, the property was substantially renovated in 2008, including upgrades to the electrical and plumbing, installation of a preventative sprinkler system and replacement of the HVAC units. The property includes frontage on Chestnut Street North and 3rd Street East.

These auctions are being conducted in cooperation with Grafe Auction & Realty. Broker participation is offered and encouraged. For more details on how to receive property information packages and inspect properties, visit www.natcomauctions.com or call toll free at (877) 895-7077.  

National Commercial Auctioneers is a nationwide auction company that specializes in commercial sales for banks, special servicers, receivers, Trustee's and bankruptcy courts.

SOURCE National Commercial Auctioneers