DAPHNE, AL--(Marketwire - Nov 13, 2012) - On November 29, 463 acres of land in Bay Minette, Alabama and a multi-tenant commercial building in Summerdale will sell at a real estate auction. The 463-acre site will be divided into five tracts, with 242 acres selling absolute with no minimums and no reserves. J. P. King Auction Company will conduct the event.
With tract sizes ranging from 60 to 125 acres, three of which will sell absolute, the Bay Minette property has frontage on Highway 31 and backs up to the CSX railroad. The property is located next to the certified South Alabama Megasite and only a few minutes from the proposed Beach Express toll road that will carry traffic to I-65.
"The South Alabama Megasite is a really nice property that the county and state put together to draw an automotive plant or other industrial investor," said Jim Logan, the property's owner. "It could make a great commercial or industrial development site, but it can also be a good hunting tract until things develop."
The property was recently named one of the Top Ten Best Auto Assembly Sites by Southern Business & Development, and it is located 45 minutes from the new Mobile Airbus Facility.
Being offered at the same auction event, Live Oaks Suites is an eight-unit commercial building sitting on Highway 59 in Summerdale. With five of the eight units occupied with transferrable leases, the 11,000 square-foot building includes a lighted parking lot and several units that feature a conference room and a lobby with a fireplace.
"The building has good access on a busy highway; it's been a great income-producing property for us," Logan said. "There are a lot of possibilities there, and it has space that can be used for offices or retail."
"In the long term, the acreage will be an ideal location for a larger commercial or industrial site as growth and development continue to come to Baldwin County. In the meantime, it's an investment that can be used as a recreational property. This auction presents an opportunity to make an investment now at a great price," said Craig King, president and CEO of J. P. King Auction Company.
The auction will take place on Thursday, November 29, with registration beginning at 10 a.m. at the Hilton Garden Inn on N. Main Street in Daphne. Property previews will be available on Monday, November 26. For additional information, individuals may contact J. P. King at 800.558.5464 or visit the company's website at www.jpking.com.
About J. P. King: J. P. King Auction Company specializes in high-value properties such as luxury homes, condominiums, land and ranches. The company has marketed properties in all 50 states and six countries with recent sales in Colorado, Wyoming, Georgia, Florida and Washington.