Go to Bid4Assets website and enter auction id 635587 to view details of this online auction.Minimum bid amount50,000Auction Starts: 05-22-14 12:45 PM ETAuction Closes: 05-28-14 06:00 PM ETAsset DescriptionReading, PA- Huge 72,834 sq ft commercial building with great redevelopment potential213 S. 11th St., Reading, PA 196021051 Spruce St., Reading, PA 1960272,834 sq ft industrial building: 4 story plus basement - 1.06 acres.Warranty deed- No liens or back taxesLarge commercial property with great potential close to Downtown Reading PennsylvaniaBrick building with high ceilings and enormous redevelopment potential.Built 1930- Great location in a residential area.213 S. 11th St.: 72,834 sq ft building on 0.68 acres1051 Spruce St.: lot of 0.38 acres across the road from the building, ideal for parking and associated uses.The property is a solid brick building, it needs a rehab. The building is mostly open floor plan and is suitable for a variety of uses including conversion into apartments / loft type apartments, offices, manufacturing, warehouse, storage and distribution.This is a unique opportunity for the savvy business owner, developer or investor to own a large building in the center of a city at a discounted price in a great location.Features:High CeilingsOpen Floor PlanAttractive Brick BuildingLarge basement.Potential for conversion into apartments / lofts in a residential area Location:Downtown Reading is undergoing a significant revitalization and this property is in the center of it all. Just two blocks from the Sovereign Center & Santander Arena. According to Trulia.com the median sales price in 19602 increased 15% compared to prices a year ago.Price Comps/ similar properties for sale:1237 Muhlenberg St, Reading, PA 19602 33,000 sq ft Industrial/ warehouse $220,0001230 Spruce St., Reading, PA 19602 33,000 sq ft Industrial/ warehouse $295,000Low Real Estate Taxes: $2,998.58 (2013) PROPERTY IS SOLD AS IS, WHERE IS- Clear title - No back taxes - Warranty DeedWinning bidder must contact the seller within 24 Hours after the close of the auction with full details of the buyer.Buyer will also be responsible for $500 deed prep and doc fee as well as 8 % premium.10% non-refundable deposit, auction premium and $500 deed preparation and doc fee are due within 48 hours of auction close.Final Payment to be made within 3 weeks of the Auction close.All bidders to do their due diligence. No statement anywhere, whether express or implied, shall be deemed a warranty or representation by the Seller regarding these assets. All buyers are deemed to have relied entirely on their own information, judgments and inspections of the property in making the decision to purchase the property.
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