Company Website:
http://www.zetabid.com/
LOS ANGELES -- (Business Wire)
Heritage Zetabid Realty & Auction Services, a division of Heritage
Global Inc., announces the sale at public auction of 501-515 Eastern
Blvd located in Essex MD. The retail/office building consists of 67,370
square feet of gross leasable area and is 78% occupied. The property
features 175 parking spaces on a 2.4 acre lot with 365 feet of frontage
on Eastern Blvd. The center consists of two stories with 26,326 square
feet of frontage retail and 40,544 square feet of lower level space
currently improved as a church facility.
The online auction is scheduled for August 19th and 20th,
2015 and conducted at www.zetabid.com.
The starting bid is just $2,499,999 ($37/SF) and was last appraised 12
months ago at $4,000,000. Rents are deemed to be below market with
proforma rental gross income potential of $495,000. The property has not
been professionally managed in recent years so significant rental growth
is possible for a professional investor.
“This represents an outstanding opportunity for a developer/investor to
achieve double digit cash flow returns. In an investment real estate
environment with heavy competition and low yields, this is the perfect
chance for a strong operator to improve the rental income stream with
professional management,” says Michael Davin Managing Director of
Heritage Zetabid Realty & Auction Services.
Buyers must register in advance to obtain diligence information. As
always broker cooperation is invited with a 2% fee available to
qualified brokers representing their client. Two preview inspection
dates will be scheduled in the next few weeks and posted on the auction
website at www.zetabid.com.
About Heritage Zetabid Realty & Auction Services (www.zetabid.com)
Heritage Zetabid Realty & Auction Services is a division of Heritage
Global Inc. (OTCQB: HGBL, CSE: HGP), a leader in distressed and
surplus corporate and financial asset valuations and transactions.
Zetabid conducts real estate auctions of estate homes and commercial
real estate. Zetabid principals have sold a billion dollars’ worth of
real estate including over 3,000 homes, numerous office, industrial ,
retail, multi-family and resort properties. Zetabid was initially
founded by the Tribune Company (Los Angeles Times Media Group), DoveBid
and CataList Homes.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150730006017/en/
Contacts:
Michael Davin, 424-888-6068
mdavin@zetabid.com
or
JCIR
Jennifer
Neuman, Joseph Jaffoni
HGBL@jcir.com
or 212-835-8500
Source: Heritage Global Inc.
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