COMMERCIAL REAL ESTATE AUCTION
11/20/2008ABSOLUTE FORECLOSURE AUCTIONMILLTOWN PLAZA
11/20/2008
70 Cemetery Rd.
Milford, OH 45150
Ordered sold by Clermont County Court of Common Pleas – case # 2007CVE645
MILLTOWN PLAZA
Located in the City of Milford, Ohio, just 1.5 miles off I-275, this strip center sits on 2.71 acres of land at the intersection of US 50 (aka Lila Ave) and Cemetery Rd., directly across US 50 from the Milford Shopping Center. This subject center contains approximately 26,000 sf of office/retail area divided into numerous storefronts. The main anchor is LaRosas Pizzeria. There is also approximately 74,000 sf of parking for the center. The property is zoned B3 by the City of Milford. According to the lender, the four current tenants are paying approximately $7,600.00 per month with an amount of square footage still available to lease.
This exceptional property is located in a high traffic area (17,540 cars per day according to the latest ODOT survey) with great visibility. Surrounding properties, within 1 mile, include City of Milford Administrative Offices, Milford Shopping Center, Milford Fire Department, Castrucci Chevrolet, Kerry Chrysler/Dodge/Jeep, Kroger, McDonalds, O’Reilly Auto Parts, Advance Auto Parts, Walgreen Pharmacy, CVS Pharmacy, Park 50 Technecenter, Milford Commerce Park, and Rivers Edge commercial development which includes Target, Wal-Mart, Showcase Cinemas, Homewood Suites, plus numerous eateries and medium to small businesses.
The property is denoted on the Clermont County Auditor Website as PID #210727.086. The 2008 reappraisal tax value shows the property value as $1,365,000, but this strip center SELLS TO THE HIGHEST BIDDER BY COURT ORDER.
Property information packets are available below in PDF or by calling 513-724-1133.
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