AmeriBid LLC to Conduct Auction of Mixed Use Development Building in Norfolk's Ghent Neighborhood

NORFOLK, Va., Feb. 12, 2013 (GLOBE NEWSWIRE) -- AmeriBid LLC ( announces the auction of a 2,856+/- square foot retail building located in Ghent Neighborhood. "If Ghent is in the heart of Norfolk, then 1520 Colley Ave. is the heartbeat," says Fernando Palacios, Regional Director of AmeriBid. "The redevelopment potential of this property would be a huge windfall for any investor." The property will be auctioned on-site on Thursday, March 14, 2013 at 1:00 PM EDT at 1520 Colley Ave., Norfolk, VA 23517.

This property is a great opportunity for mixed use development. The current 2,856+/- square foot stucco building is situated on a 0.33+/- acre corner lot. It has 3 streams of revenue with 2 possible commercial businesses and 1 ATM room. There are security cameras on the interior and exterior, 2 bathrooms and an outdoor dining terrace. It is one of the few buildings on Colley Avenue in Ghent with a parking lot featuring 20 spaces and has a weekday traffic count of 15,583. It is in close proximity to Old Dominion University, Sentara Norfolk General Hospital, Net Connector bus stop on Colley Ave., the Tide light rail system and dozens of other restaurants and nightspots. Plans for retail and residential development are included in the Property Information Package, which can be obtained on our website

Brokers representing a buyer will be paid a 3% cooperating broker fee. Properties may be inspected during scheduled preview on February 28th from 12pm-3pm EST. To receive the property information package and complete terms, please visit or call 877-895-7077.

Headquartered in Tulsa, Okla., AmeriBid is the premier global real estate auction leader specializing in the sale of commercial and residential real estate, land properties and other assets for lenders, servicers, receivers, bankruptcy attorneys, estates, private owners, investment companies and local, state and federal government agencies.

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