This is a prime redevelopment property and indeed a rare opportunity
Huntsville, AL (PRWEB) May 22, 2008
The former Ramada Inn in Huntsville is set to go on the auction block June 5, at 12p.m., according to Bryan Knox of Amerisouth Auctions.
"This is a prime redevelopment property and indeed a rare opportunity," said Knox.
Located at 3502 South Memorial Parkway, the property features 4.96 acres with 392 feet of frontage, plus improvements. "This property has convenient access to I-565 with daily traffic counts of 94,000," Knox said. "Additionally, there is an incredible amount of new commercial construction in close proximity and tracts this large are not often available on the Parkway."
"Most recently, this property was occupied by Operation Restoration, housing families displaced by hurricane Katrina," Knox explained. "However, the need for temporary housing has subsided, so that the property is now available again for development."
The former hotel and restaurant has 38,072 square feet of two-story externally entered hotel rooms, 12,790 square feet of improvements in the former restaurant with office and meeting area on second level, plus 17,129 square feet of two story internally entered hotel rooms, and a pool area is situated in the courtyard.
The auction will be conducted at The Radisson Suite Hotel located at 6000 Memorial Parkway SW, Huntsville, Alabama 35802. Registration will begin at 11a.m.and the auction will start at 12 p.m.
Broker participation is encouraged. For more information, call (256) 353-7525 or visit http://www.amerisouthauctions.com.
Amerisouth Auctions, Inc. provides full real estate auction services and is based in Decatur, Alabama.