Outer Banks, NC Boat Slips Hit the Auction Block Again - This Time Selling Regardless of Price

VIRGINIA BEACH, Va., Sept. 29, 2011 /PRNewswire/ -- Bring a cashier's check for $3,000 and bid to buy the boat slip of your choosing – 60', 50', 40' or 25' at the Shallowbag Bay Club Marina in Manteo.

Thirty-five (35) slips hit the auction block and will be offered individually, by high bidder's choice, on Friday, October 7 at 4 p.m.  These slips will sell regardless of price.

The Ship's Store operation will also be offered up at a separate auction on the same day at 4:30 p.m.  This includes the gas and diesel fuel distribution pumps, a retail store, Harbormaster's office and communications tower.  There's upside potential if the new owner brings back the water taxi service that shuttles boaters and vacationers from Shallowbag Bay to the charming historic town of Manteo for shopping and dining.

This is not the first time Tranzon Fox has auctioned these same boat slips!  The Marina operation, including over 60 unsold boat slips, went up on the auction block in October of 2005.  It was sold for $2.3 million to the Vinings Group out of Atlanta and Philadelphia, who, at the time, owned other marinas on the East Coast.  The economic downturn hit and the first auction buyers defaulted.  This time, the lender has hired Tranzon to sell the assets piecemeal to individual buyers, rather than as a whole, giving Outer Banks fishermen and boaters the opportunity to name their price for the slips.

Shallowbag Bay Club consists of waterfront condominiums and boat slips on the Roanoke Sound.  Condo and boat slip owners have full use of the swimming pool, exercise room, club house and showers, and there is a restaurant on-site, too.

The auction is being conducted by Tranzon Fox (NCAF 4953).  For complete details about the auction, go to www.tranzon.com and search "Shallowbag," or call Linda Terry at (804) 354-9090, or [email protected].

Tranzon Fox is a member company of Tranzon, L.L.C., and is a full-service auction and real estate disposition company. Tranzon has completed over $1.6 billion of real estate auction sales since its founding in 2000. For more information about this auction or to learn more about Tranzon, visit www.tranzon.com.

SOURCE Tranzon Fox