Downtown Dayton Duo Heads to Auction

Two office properties in Downtown Dayton will hit the auction block next month. CBRE Auction Services is selling the mid-rise class C office towers at 333 W. 1st St. and 349 W. 1st St., at an online auction, together with a 340-space attached parking garage. The minimum bid is $350,000.

Two downtown Dayton office buildings will hit the auction block next month. CBRE Auction Services is selling the mid-rise, Class C buildings at 333 W. 1st St. and 349 W. 1st St., together with a 340-space attached parking garage. The minimum bid for the online auction is $350,000.

The larger of the buildings, 333 W. 1st St., rises seven stories and offers about 210,000 square feet of space. Its 24,600-square-foot neighbor at 349 W. 1st St. is three stories tall. Both buildings were completed in 1956.

According to real estate website PropertyShark,Titan Loan Investment Fund L.P. paid $4 million for the buildings in November 2007. PropertyShark also reported that the current market value of 333 W. 1st St. is $1.6 million, and 349 W. 1st St. is valued at $275,000.

The auction is scheduled for 1 p.m. to 3 p.m. on Wednesday, March 25.The opening bid is set at $100,000.

Photo credit: CBRE