tal complex and associated res-
taurant site known for decades as
the Villanova community will be
put up for sale next month with an
Internet-only auction.
will be sold via a one-day Internet-
based auction by the Max Spann
Real Estate and Auction Company
beginning Wednesday, June 19,
at 1 p.m. and concluding at the
same time on the next day,
Thursday, June 20. The entire
auction will be conducted online
and there will previews to provide
potential buyers with a tour held
on May 29, June 7 and June 14.
apartment units and the large
restaurant facility currently home
to the Station 7 Bar and Grill. For
decades, the site housed the old
Villanova bar and for years hosted
the 707 Bar and Grill. The new
ownership opened Station 7 on
the site last fall. The 27 year-
round cottages, eight additional a-
partments and the restaurant were
all completely renovated in recent
years.
pancy rate of 98 percent and there
is space on the site for the con-
struction of additional units. Ac-
cording to analysis, the annual net
operating income for the entire
property is in excess of $300,000
and its close proximity to all West
Ocean City has to offer and
Ocean City and the beaches and
Boardwalk less than a mile away
add to the property's value.
rare opportunity," said Max Spann,
Jr., president of the auction firm of
the same name. "It's a proven in-
come producer, in immaculate
condition and a little more than a
stone's throw away from one of
the world's most beloved board-
walks. A complex like this one
doesn't become available very of-
ten."
auction on the same two days in
June will be a retail pad along the
ever-growing Route 50 commer-
cial corridor in West Ocean City.
The retail pad is located immedi-
ately adjacent to the Applebee's
and Chick-Fil-A restaurants along
the north side of Route 50 just
across the bridge from Ocean
City.
age complete with rental rolls,
leases and income and expense
reports is available by calling 888-
299-1438, or by visiting www.max-
spann.com.
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410-723-4665
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