Rare Slice Of Delaware River Waterfront Property On Auction Block

PHILADELPHIA (CBS) - Got about $4-million to spare? If so you can own a part of the Delaware River Waterfront.

The one-and-a-half acre parcel's address is 1143 North Delaware Avenue, the former site of Club Maui, whose only remnant is a few patches of aqua floor tile.

Now it's going under the hammer, with a minimum offer of a mere $3.6-million. Sealed bids are due Wednesday.

Tranzon Alderfer is handling the auction, and President Sandy Alderfer says the CMX-3 zoning opens it up to a number of uses:

"Household living, group living, single room residences, services, medical, dental, health -- it's a combination of retail and residential."

Asked what he'd do with the property if he were the lucky bidder, Alderfer had a simple answer:

"Make it pay."

In:
• Delaware River
• Philadelphia