SAGINAW, Mich., Sept. 1, 2020 /PRNewswire/ — A public auction has been set by ownership, a limited liability company organized in Michigan to liquidate the asset consisting of a 39,000+ sq. ft. light industrial facility on 3+ acres located in Saginaw, Michigan. Bidders can name their price on this real estate that once was priced to sell at $982,000. With a published reserve price is set at $495,000, the auction will be a unique opportunity to acquire this utilitarian facility at a substantial discount from fair market value.
Once the home base for Miller Mold, a manufacturer of precision forming molds and dies for the plastics industry, “this facility now is vacant and is one of the principle drivers for the date-certain rapid pace of an auction sales format,” said Paul Rogers, lead Auctioneer for RM Capital Realty, LLC. “This building and real estate offers real practical possibilities for any business and or investor seeking a very adaptive/alternative space for continued manufacturing, warehouse, distribution, office and/or flex.” Continued Rogers…… “Auctions are a means of disposing of real estate in a programed environment with date-certainty.” Continued Rogers…… “Rather than to remain unsold on the market with uncertainty as to when a ready-Buyer will surface, the auction drives the market to the property in a scheduled time-frame and setting affording the suitors the opportunity to compete to buy at their own price/value points.”
Bidders will have the opportunity to inspect and evaluate the facility in its entirety in advance of the auction, the precise date and location to be determined but Rogers said the auction will be held in mid-October. Prior to the auction, a comprehensive Bidder Package will be available to prospective bidders that will include all necessary components to include; a survey, environmental assessments, title commitment, survey, the contract that will be used at the auction. Bidders will have time to close, said Rogers.... “Typically, we structure these transactions with a 45-day closing time-frame following the auction wherein the winning bidder will have time to finance the purchase and close the transaction.”
For more information about the auction, inspection dates and the facility, www.3320bayroadauction.com. Auctioneer direct at (989) 479-7757.
RM Capital Realty, LLC is a consortium auction house, brokerage firm, securities investment broker/advisor and consultancy.
SOURCE RM Capital Realty, LLC