SOLD FOR $396,000

±2,904 SF 2 1/2 STORY BLDG – 3 LOTS W/ 128 FT FRONTAGE – SHREWSBURY AVE – RED BANK

1,452 SF COMMERCIAL SPACE ON 1ST FLOOR -W/ 1,452 SF APARTMENT UPSTAIRS

 CLOSE TO DOWNTOWN RED BANK

$275,000 NOMINAL OPENING BID

REAL ESTATE AUCTION

SOLD FOR $396,000 

RED BANK, NEW JERSEY 

INCOME PRODUCING INVESTMENT PROPERTY 

$275,000 NOMINAL OPENING BID

2 & 1/2 STORY BUILDING -1,452 SQ. FT. COMMERCIAL 1ST FLOOR SPACE W/ 1,452 SQ. FT. 2ND FLOOR APARTMENT W/FULL BASEMENT, 3 CAR GARAGE, LARGE BACKYARD, AND ATTIC.

ZONED MIXED USE- NEIGHBORHOOD BUSINESS.

READY FOR OCCUPANCY AND RENTAL INCOME!

~ BUSINESS RELOCATING – PROPERTY MUST BE SOLD ~

WEDNESDAY OCTOBER 17, 2018 AT 11:00 AM

ON PREMISES: 240 SHREWSBURY AVE. 

RED BANK, NJ 07701

PROPERTY FEATURES: 240 Shrewsbury Ave. is a 2.5 story building, currently being operated as a funeral home with a covered porch, foyer, 5 rooms and 2 bathrooms on the 1st floor and the 2nd floor proprietors apartment has a large eat-in kitchen with high end finishings such as; granite counter tops, spacious cabinets, tile floor, and stainless steel appliances, 3 bedrooms, 1 full bath, small deck, w/ back stairs. The property has a full height attic and basement w/ outdoor exit. The first-floor commercial space is approx. 1,450 sq. ft. and the 2nd floor apartment space is approx. 1,450 sq. ft. for a total of ± 2,900 sq. ft. of livable area. The property consists of 3 lots, circular driveway, with mature landscaping, quiet private wooded area and a freestanding 3 car garage. The property is 128 ft by 177 ft. with 128 ft. frontage on Shrewsbury Ave.

UTILITIES: CITY WATER & SEWER, GAS FORCED HOT AIR HEAT, AND CENTRAL AIR THROUGHOUT

TAX INFORMATION: 2018 TAXES – TOTAL: $17,950 FOR BLOCK 78, LOTS 12, 13 & 14

FULL TAX INFO AND PROPERTY ASSESSMENTS, TAX MAP, SURVEY, AND PROPERTY CARDS LOCATED UNDER “DOCUMENTS”.

TERMS: Bidding: Registration and deposit verification required to bid. ALL PROSPECTIVE BIDDERS MUST REGISTER WITH THE AUCTION COMPANY ON AUCTION DAY, PRIOR TO THE START OF THE AUCTION. An initial deposit of $25,000.00 in cash, certified check or bank check and signed contract are required at close of bidding. (See documents for sample contract.) HIGH BID PRICE & CONTRACT IS SUBJECT TO ACCEPTANCE BY THE SELLER.The balance of the 10% deposit/down payment may be made in personal, business check, or wire transfer within 48 hours after the auction or within 48 hours from acceptance by the seller. A 10% BUYER’S PREMIUM WILL APPLY. PROPERTY WILL BE OFFERED WITH A NOMINAL OPENING BID OF $275,000.00. PROPERTY IS SOLD “AS IS” FREE & CLEAR OF ALL LIENS, CLEAR INSURABLE TITLE GUARANTEED. 

OPEN HOUSE AND PROPERTY INSPECTION: SUNDAY OCTOBER 7, 2018 FROM 12-3 PM AND OCTOBER 14, 2018 FROM 12-3 PM, & FROM 9:00 AM MORNING OF SALE WEDNESDAY OCTOBER 17, 2018, AND BY APPOINTMENT.

AUCTIONEER’S NOTE: BUSINESS IS RELOCATING, OPPORTUNITY TO PURCHASE BUSINESS AND RESIDENTIAL INCOME PROPERTY AT AUCTION. PLEASE CALL AUCTIONEERS OFFICE FOR FURTHER INFORMATION AND A BIDDING PACKET. 

REALTORS ARE PROTECTED AND PARTICIPATION IS ENCOURAGED.

CHECK “DOCUMENTS” TAB ABOVE FOR REALTOR TERMS, BROKER/CLIENT REGISTRATION FORM & SAMPLE CONTRACT.

A.P. NATOLI & PETER COSTANZO AUCTIONEERS & REALTORS

NJ R.E. LIC. 8900421 Peter Costanzo Auctioneers, Inc.

R.E. Lic. 8910502 Peter Costanzo

Bidding: Registration and deposit verification required to bid. ALL PROSPECTIVE BIDDERS MUST REGISTER WITH THE AUCTION COMPANY ON AUCTION DAY, PRIOR TO THE START OF THE AUCTION. An initial deposit of $25,000.00 in cash, certified check or bank check and signed contract are required at close of bidding. ( See documents for sample contract.) HIGH BID PRICE & CONTRACT IS SUBJECT TO ACCEPTANCE BY THE SELLER. The balance of the 10% deposit/down payment may be made in personal, business check, or wire transfer within 48 hours after the auction or with 48 hours from acceptance by the seller. A 10% BUYER’S PREMIUM WILL APPLY. PROPERTY WILL BE OFFERED WITH A NOMINAL OPENING BID OF $275,000.00. PROPERTY IS SOLD “AS IS” FREE & CLEAR OF ALL LIENS, CLEAR INSURABLE TITLE GUARANTEED.