Salisbury Mall up for auction online
An online real estate auction house has scheduled bidding to start on the Salisbury Mall Sept. 23.
Auction.com, which bills itself as the “Nation’s Online Real Estate Marketplace,” has put the starting bid on the 27-year-old mall at $1.5 million.
The Salisbury Mall has been facing an uncertain future of late with the recent closing of one of its original anchors, JC Penney, and the pending move of its biggest anchor, Belk, to Interstate 85 this fall.
Auction.com’s listing for the mall put its occupancy at 63.19 percent, as of July 31. JC Penney closed Aug. 3.
Bidding on the mall is scheduled to start online Sept. 23 and end Sept. 25.
A bid deposit amount of $25,000 is required.
Nadmar Realty Group of Great Neck, N.Y., is the mall’s current owner. The company, which is a privately owned real estate investment and management firm, bought Salisbury Mall for $2.5 million in February 2012.
The mall had gone into foreclosure in 2010.
Auction.com’s listing puts the mall’s net operating income at $1.18 million.
Located at 1935 Jake Alexander Blvd., the mall was built in 1986 and has 316,964 square feet of retail space.
The Post could not reach Nadmar Realty Group Saturday night. Its website says the company has more than 5 million square feet of commercial real estate in the United States.
Contact Mark Wineka at 704-797-4263.