Two Commercial Buildings with River Front Access in Lowellville
These 2 commercial buildings, both are riverfront properties, have a combined gross area of 11,500 sq. ft. and are located on E. Water Street in Lowellville, just south of the Washington St. Bridge, are being sold at public auction with online only bidding on the listing brokers website, ending on Wed., June 8th, 2022 at 6:30pm. Both of these buildings are in need of complete remodeling including roof repair, interior wiring plumbing, floor, wall and ceiling refinishing. The property at 123 E. Water Street has a 2nd floor suite the was used as living quarters. There must have been a meat store in this building at one time as there is a large meat smoking compartment in the building. The good news is that, according to the seller, these 2 properties are located in an "Opportunity Zone" and are both subject to 10 years of tax abatement if certain conditions are met. Bidders are advised to check with Lowellville City Government office to confirm "Opportunity Zone" qualifications. The bidding starts at only $1000 and sells in its present "AS-IS" condition with internet only bidding. The Lowellville Zoning Inspector has issued a "notice of violation" on both properties, and the buyer of this property will have to bring the buildings up to code or demolish them. The seller will provide a document stating that there is no asbestos in the buildings. This is a great investment opportunity, and the buildings are located just a few hundred yards south of the "Canoe Launch' pad leading into the Mahoning River. Payment in full or $5,000 minimum down payment within 24 hours of auction closing by cash, certified check or wire transfer. Balance at closing within 45 days.
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