Elite Auctions to Conduct Ordered Liquidation Sale of Two Prime Land Parcels in Paso Robles August 18

PASO ROBLES, Calif., July 28 /PRNewswire/ -- Elite Auctions (www.auctionca.com) announces the ordered liquidation sale of two land parcels in Paso Robles, Calif., on August 18 at 12 noon, according to Mike Grigg, auctioneer.

"The properties are part of a partially completed six-lot, mixed-use, commercial and residential development known as 'The Highlands'," said Grigg. "Prominent tenant building signage is available, as well as excellent freeway access and close proximity to residential, retail and schools. The traffic counts are approximately 30,000 cars per day."

Located at 205 Oak Hill Road in Paso Robles, the first parcel is a 1.83 acre mixed-use residential property with a current appraisal of $925,000. This vacant parcel has approval for development of a 28-unit residential condominium project. Suggested opening bid on this property is $500,000. The second parcel is a 16,586 square-foot commercial parcel and has a current appraisal of $500,000. This parcel has approval for development of a 5,000 square-foot commercial / office building. Suggested opening bid for this property is $250,000.

Both properties are designated RC/MU under the city's zoning ordinance and general plan. This designation allows for a wide array of general retail and service commercial uses, as well as financial services, professional offices, and personal service uses.

"These properties are located just off Highway 101 and Niblick in a busy regional shopping district with McDonald's, Taco Bell, Albertsons, Walmart, Kohl's, Staples and Lowe's nearby," noted Grigg.

Broker participation is encouraged. Properties can be viewed at any time prior to the auction. All prospective bidders are encouraged to do their due diligence and inspect the properties prior to the auction date. The auction is open to the public. For more information on registering to bid in this auction, complete bidder information packet, photos, and brochure visit www.auctionca.com or call 661-325-6500.

SOURCE Elite Auctions