Six commercial out-parcels of vacant land around the Lowe’s store off U.S. 17 in Stafford County will be sold in an absolute auction Feb. 20.
The parcels, recently appraised at $3.6 million, will sell as a whole, with declarant rights. John Dixon & Associates, a real estate and marketing firm headquartered in Marietta, Ga., will conduct the sale as part of a two-day auction of real estate in a number of states.
“It’s been a long time since we had a property of this value selling with no reserve," Dixon, president of the auction company, said of the Stafford property in a news release. "It’s possible someone could get a real bargain, though I expect we’ll see serious competition for these.”
The tracts, totaling 18.8 acres, are located on Banks Ford Parkway at U.S. 17, bordering the Lowe’s Home Improvement store at Cherry Grove at Celebrate Virginia North. They were among the nine parcels owned by Silver Cos. principals and other investors that were sold at auction in 2014 as part of a process that would allow Stafford and Celebrate Virginia North’s bondholders to receive real estate tax payments and assessments that were more than two years delinquent.
Most of the properties offered in the two-day, multi-seller auction are located in North Carolina, South Carolina, Georgia and Florida, with some also in Alabama, Kentucky, Tennessee, Mississippi and Texas. Dixon said the auction includes scores of subdivision lots recently placed on the market.
“We had a good many home sites that had been held as investments and haven’t been on the market quite a while. With the demand for homes continuing to be strong, we should see some bidding by builders and developers,” he said.
The auction will begin at 2 p.m. each day, Feb. 20-21, at the Mansour Conference Center, in Marietta. The bidding will be streamed via the Internet, and remote bidders will be able to enter bids in real time by prior arrangement. Individuals seeking additional information may visit johndixon.com or call 770/425-1141.