Monday, March 2, 2009 11:51 AM By Dana Wilson
The Columbus Dispatch DELAWARE, Ohio -- The Delaware Hotel, which closed last fall, will be auctioned at a sheriff's sale scheduled for March 18 at 10 a.m.
The four-story hotel at 351 S. Sandusky St. was condemned in September after city inspectors found safety- and health-code violations.
Violations included inoperable smoke alarms or alarms without batteries in roughly 95 percent of rooms; vacant rooms containing food scraps; improper electrical connections on air-conditioning units; exposed wiring and uncapped electrical boxes; and bathroom water leaks and mold.
The minimum bid for the hotel and roughly 5.4 acres of land is $860,000. The appraised value is about $1.3 million, according to liquidator and auctioneer Gryphon USA, of Lewis Center.
Prospective buyers can tour the property March 11 and March 16 from 1:30 p.m. to 3:30 p.m.
"While the property needs some corrective actions before the business can re-open, any experienced operator can accomplish what needs to happen quickly and re-start the business into a profitable venture," Gryphon President Richard F. Kruse said in a news release.
Richard F. Kruse is the President of Columbus, Ohio based Gryphon USA, Ltd. (www.gryphonusa.com). The Gryphon Organization includes Gryphon Asset Management providing receivership and consulting services in the distressed marketplace, United Country Ohio Realty & Auction Group (www.ucohiorealty.com & www.ucohioauctions.com) providing real estate brokerage and auction services throughout Ohio and OnlineAuctionUSA.com (www.onlineauctionusa.com) providing commercial asset liquidations from the Midwest to East Coast.
United Country Ohio Realty & Auction Career Opportunities Available. Call 614-885-0020 x 17
Those are some serious issues! Is this being sold with the assumption that the buyer is going to tear it down?