A building in Saco will be going under the hammer next month as an investment property.
Once a mill and now home to a large restaurant and brew pub, The Run of the Mill Public House & Brewery, the building also includes an apartment complex with 22 units. There are expected to be no changes in the tenants as a result of the auction.
Print shops can be used to create mailers and other printed materials to distribute to those who might be interested in such auctions.
Tranzon LLC., based in Portland, is the auctioneer for the property. The building was constructed in 1835 and is four stories tall. In addition to be restaurant and apartments there is additional space which is vacant and could be converted into office space.
The ROTM Lofts LLC currently owns the property and purchased it for $1.6m in December 2017. For tax purposes it is assessed at $2.2m. It was previously sold during the real estate boom for $4.8m in 2007.
Senior partner at The Boulos Co., a real estate brokerage based in Portland, Greg Boulos, auctions are often used to generate a higher sale price when there is a large demand for real estate and so may not be the last means of resort for selling a property.
The auction is scheduled to begin on December 12 at 9:30 am.
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