New Jersey Farm, Land, Banks and more Commercial Properties to be Auctioned July 15

Westfield, NJ – June 18, 2010 – (RealEstateRama) — Seven commercial properties throughout the New Jersey, including four former bank branches, will hit the auction block simultaneously on July 15.

Max Spann Real Estate & Auction Co., an industry-leading national auctioneer, will auction the properties at 1 p.m. at the Days Inn Bridgewater Conference Center Somerville Area, 1260 US Route 22 East, Bridgewater N.J.

In addition to the four banks, a 28-acre Hunterdon County Farm, a multi-use, multi-tenant building in Hunterdon County and an undeveloped tract of land in Sussex County will be auctioned.

“This is a tremendous opportunity for investors and business people to find a property that suits their needs and potentially purchase it for below market value,” said Max Spann Jr, president for Max Spann. “It’s not everyday that we have a 3,400 square foot bank branch and a 47-acre tract of land available in the same auction, the bank sites are being sold “Absolute”, meaning they are guaranteed to sell even if they go for a dollar.”

The following properties are to be auctioned:

A former bank branch located at 28-30 S. Main Street in Medford. The 3,476 square foot, two-story building contains a basement, commercial space on the first floor and apartments on the second floor. It comes with six parking spaces and is located within a designated Historic Village commercial zone.

A 15,120 square foot building located at 200 E. State Street in Trenton. The property contains two drive-throughs and approximately 11 parking spaces. The two-story masonry building is conveniently situated in Trenton’s Central Business District.

A 4,249 square foot former bank branch located at 591 Union Ave. in Hillside. The property features a canopy with five drive throughs, approximately 31 parking spaces and is situated on a 1.45 acre lot. The property is easily accessible from a number of major roadways. It is located on the Garden State Parkway exit and entrance roadway and offers convenient access to Route 78, Route 22 and Springfield Ave.

A 3,394 square foot building at 685 Chancellor Ave. in Irvington. The property contains the one-story masonry building and approximately 17 parking spaces. It is located near Routes 124, 24, 78 and the Garden State Parkway.

A 28-acre property at 63 Manners Road in Ringoes. The property can be used as a farm, nursery, garden center, horse farm or similar use. With nine greenhouses and a five-acre sales yard with underground irrigation, it is suitable for a variety of commercial uses. A deep well pumps water at an incredible 60 gallons per minute. A large Morton Pole Barn offers plenty of storage space and the caretaker’s apartment and office offers comfort. Located in one of the prettiest areas of Hunterdon County, the farm boasts 1,200 feet of road frontage and the potential for subdivision.

A multi-tenant building suitable for light industry at 75 North Street in Bloomsbury. The 29,550 square foot building contains office and warehouse space. The building offers serious income potential and comes with a tenant. The property has convenient access to the Route 78-Route 173 interchange.

A 47.28-acre plot of land on Lenape Road in Andover. C-1 zoning at the site allows for professional offices, medical offices, research labs, farm stands and more. C-1 zoning also includes R-2 residential zoning and there is potential for subdivision. The property is near Routes 206, 46 and 80. It is one-half mile to the planned Lackawanna commuter rail station along Roseville Road.

Previews of each property are available from noon to 2 p.m. on June 23 and June 30.

For more information about the auction, call 888-299-1438 for the property information package. Preview the property at one of the open houses, attend the auction and submit your bid. Online bidding will also be made available at www.maxspann.com.

Max Spann has begun working with banks up and down the East Coast, selling off their real estate assets. More consignment sales are scheduled for the months ahead.

For more information about this and future auctions, visit maxspann.com, become a Max Spann fan on Facebook.com/MaxSpann and follow the auctioneer on Twitter.com/MaxSpann.