A vacant retail building on Brown Deer Road in Milwaukee that was sold to a group of real estate investors in September for $4.9 million is being sold in an online auction, with an opening bid amount set at $450,000.
The 61,902-square-foot building at 8120 W. Brown Deer Road, housed a Pick ‘n Save supermarket until 2014. The building has been vacant since then.
It was purchased by a group of out-of-state investors listed as Brown Deer Road Investors LLC from Grainville Investors LLC in September, according to state records. Grainville Investors LLC is registered to Timothy Carey, a principal of Madison-based Carey Group Real Estate Services.
The 7.2 acre property and 12-year-old building is assessed by the city of Milwaukee for $4.5 million.
The starting bid for the property is $450,000 on www.ten-x.com. The two-day online auction begins Dec. 12.
