Broker reports ‘nibbles’ on 11th Street property sale
by Denise Ellen Rizzo
Nov 07, 2013 | 3197 views | 0 0 comments | 11 11 recommendations | email to a friend | print
The RAS car wash is one of the business on a block of property for sale on 11th Street.  Glenn Moore/Tracy Press
The RAS car wash is one of the business on a block of property for sale on 11th Street. Glenn Moore/Tracy Press
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Two potential buyers have expressed interest in purchasing a block of 11th Street adjacent to a newly constructed McDonald’s restaurant, according to real estate broker Byron Alvarez.

“We’ve got nibbles,” Alvarez said. “Some door-knocking interest.”

The 1.27-acre property comprises seven lots from 108 to 128 E. 11th St. Johnny’s Diner & Creamery drive-in, Peaches & Cream Skin Care and Retreat, and RAS Car Wash all occupy that land.

Property owner Albert and Celeste Navarra Family Partnership LP put the property up for sale July 23 for $2.4 million.

Alvarez said he has received two letters of intent since the block went up for sale. He said letters of intent are the first step a potential buyer takes to express an interest in buying property.

The Oct. 22 opening of a McDonald’s restaurant at 236 E. 11th St., just a block to the east, is fueling interest in the property.

“This is a good price,” Alvarez said. “With all the development on 11th Street, it’s certainly not going down in value.”

• Contact Denise Ellen Rizzo at 830-4225 or drizzo@tracypress.com.

 
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