Credit: REALTY MARKETING/NORTHWEST/for the Itemizer-Observer
Five industrial properties originally offered in the spring are back on auction this month.
As of Wednesday, November 4, 2015
DALLAS — The unsold properties off Monmouth Cutoff Road in Dallas included in an industrial land auction held last spring are once again slated for auction this month.
Auction firm Realty Marketing/Northwest is hoping the second time all properties sell, but to make sure that is the case, the firm is making a few changes from its first offering of the properties.
The prices have been reduced on all but one of the properties, but the firm also noticed a different trend.
Realty Marketing/Northwest President John Rosenthal said many parcels in the 107-acre sale in the spring were offered in large tracts. About half of them sold, including the largest, a 52-acre property off Godsey Road, Rosenthal said.
With the rest of the pieces, Rosenthal said potential buyers were interested, but not biting for a specific reason.
“That’s what we learned in the spring, nobody wanted large tracts,” Rosenthal said.
In response, one of the properties previously offered in a 26-acre chunk has been subdivided into 3-acres, 4-acres and 19-acre tracts.
Rosenthal said if the property is sold in that fashion, the owners will have to apply to the city of Dallas to have it subdivided.
Two residential properties near Clay Street just outside Dallas city limits of also are up for auction. One is a 2-acre home site (Property No. 110) and the second is a 2.17-acre site (Property No. 111) both are listed at $47,500.
Sealed bids on the properties in both auctions are due by Nov. 18.
Industrial property for sale:
• Property No. 112 — about 4 acres, minimum bid of $195,000. At the corner of Southeast Godsey and Monmouth Cutoff roads adjacent to the former Tyco building.
• Property No. 113 — about 3 acres, minimum bid of $150,000. Has frontage on Southeast Godsey Road and adjacent to the former Tyco building.
• Property No. 114 — about 19 acres, minimum bid of $500,000. Has frontage along Southeast Godsey Road.
• Property No. 115 — about 6 acres, minimum bid of $225,000. An irregular-shaped site including a 6,500-square foot shop building.
• Property No. 116 — 13.75 acres, minimum bid of $395,000. Frontage on Southeast Holman Avenue.
For more information about the auction and properties, go to www.rmnw-auctions.com or call 1-800-845-3524.