National Commercial Auctioneers to Conduct Bank Owned Real Estate Auctions of Properties in St. Louis on July 11

TULSA, Okla., June 22, 2011 /PRNewswire/ -- National Commercial Auctioneers [www.natcomauctions.com] announces a real estate auction to sell bank owned properties in St. Louis, Mo., on July 11, 2011, according to Stephen Karbelk, CAI, AARE, CEO & Founder.

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

The first property is a mixed-used retail and residential building on the corner of Bingham and Morganford in St. Louis. The 2,322 sq. ft. building contains a 1,328 sq. ft. restaurant with dining area, bar and full kitchen on the first floor, a 908 sq. ft. apartment on the second and an unfinished basement.

"This property was constructed in 1913 with nice high ceilings at 10 ft. and 11 ft. in some rooms," said Karbelk. "Located in a neighborhood commercial district, this would make an excellent investment property or an ideal situation for a restaurant owner who wants to live above their business."

Located at 600 St. Louis Avenue in Valley Park, Mo., the second property is an industrial building constructed in 2007 with 6,000 sq. ft. on 0.4 acres of planned district industrial. The building is currently configured for occupancy by a single tenant with openings between the existing bays, but has three front entrances, three rear entrances and a restroom in each bay which would accommodate multiple tenants.

"The east bay consists of five private offices, a sales area and a restroom," noted Karbelk. "The central and west bay are warehouse areas. The building also comes with 15 striped parking spaces."

Open houses for the Morganford Rd. property are set for June 30 from 10am to 12pm, and on auction day beginning at 10am prior to the 11am auction. Open houses on the Valley Park property are set for  June 30 from 1pm to 3pm, and on auction day at 1pm prior to the 2pm auction.

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