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City of Portsmouth offers four land parcels for development opportunity

PORTSMOUTH, Va., May 13, 2022 (GLOBE NEWSWIRE) -- The City of Portsmouth, VA is currently offering four large mixed-used real estate properties for sale to the public on GovDeals. GovDeals is the leading online auction platform for government agencies and educational institutions to sell their surplus real estate and real property to more than 4.7 million qualified buyers worldwide. The properties, all located in Portsmouth, are currently uninhabited and located within minutes of popular attractions.

The City of Portsmouth is requiring all potential buyers to pay a refundable bid deposit of $10,000 before placing any bids. The deposit only needs to be paid once and must be paid prior to June 14th to participate in the auctions.

The available properties are all located within miles of each other in Portsmouth neighboring the Historic Bide-a-Wee Golf Course, Tidewater Community College, and Rivers Casino Portsmouth Entertainment District, currently under construction.

Each property is within minutes of the Victory Boulevard exit off Interstates 264 and 64 and State Route 58, allowing for a quick commute to the fifteen (15) military installations located in the Hampton Roads region. Many businesses, residences and local schools can also be found in the area. The locations of the properties include:

  • 58.3-acre Mixed use commercial land, located at 3471 Elliot Avenue
  • 30.49-acre mixed used commercial land, located at 0 McClean Street
  • 6.75 acres of residential land, located at 3001 Greenwood Drive
  • 18.87 acres of residential land, located at 0 Greenwood Drive

“These properties are a wonderful opportunity for investors or developers looking for prime real estate in an established area to add to the community and enhance the lives of Portsmouth residents,” says Jim Stuart, Supervisor of Client Relationships for GovDeals.

To bid on any of the Portsmouth properties, all interested parties must first create a GovDeals bidder account. New bidder registration can be completed at GovDeals.com/Register.

About GovDeals

GovDeals is the world’s leading marketplace for surplus government and educational assets, ranging from heavy equipment and transportation assets to industrial machinery and real estate properties. GovDeals specializes in surplus disposition technology, partnering with government agencies and related entities to sell "as is, where is" surplus equipment and materials in a transparent fashion. Sellers can directly launch and manage their listings in just days with more control and lower fees than traditional auction solutions. GovDeals is powered by one of the most experienced and trusted companies in the surplus industry: Liquidity Services (LQDT) , which has supported millions of customers across the globe. GovDeals buyers have direct access to all the surplus assets across Liquidity Services’ network of marketplaces in one centralized location.

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Contact:

Angela Jones, GovDeals
(334)-301-7823
ajones@govdeals.com

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Source: GovDeals, Inc.

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