As of Thursday, May 11, 2017
DALLAS — Four Dallas industrial sites off Monmouth Cutoff Road have returned to the auction block with prices significantly reduced from a previous sale.
Auctioneer Realty Marketing Northwest is offering the properties, ranging in size from three acres to 19 acres, in its spring auction, with sealed bids due by May 24.
“The seller has reduced prices by up to 55 percent from the last auction, with the added incentive of providing short-term financing with a 25 percent down payment, so that these remaining industrial properties can be sold by the end of June,” said John Rosenthal, the president and principal broker at Realty Marketing Northwest.
The following are the properties up for auction:
• Three-acre parcel with frontage on Southeast Godsey Road next to the American Gas & Technology site (former Tyco Building). Published Reserve: $70,000 (previous price, $150,000).
• Four-acre parcel at the corner of Southeast Godsey and Monmouth Cutoff road next the American Gas & Technology site. Published Reserve: $100,000 (previous price, $195,000)
• 13.75-acre site with frontage on Southeast Holman Avenue, with a rail spur on the northern boundary. Published Reserve: $250,000 (previous price, $500,000).
• 19.2-acre site with frontage on Southeast Godsey Road. Published Reserve: $275,000 (previous price, $395,000).
Rosenthal said the properties are those leftover from an industrial land auction in 2015.
After that process was unsuccessful, the owner continued to list the properties for sale, but hasn’t been able to move them.
Rosenthal said the owner decided to take them to auction again this spring.
“I recommended the prices come down and we’ve had three times as much interest,” he said.
For more information or a catalogue, call 1-800-845-3524.