The Feb. 14 auction of Building 3 at Saco Island has been cancelled, according to Tranzon, LLC, the auction company .

SACO — An auction of Building 3 at Saco Island scheduled for Feb. 14 has been cancelled.

Auctioneer Tranzon, LLC sent notices of the cancellation by email just after 5 p.m. on Friday.

It is the second time in two months an auction of the property has been halted. The 4.39 acre commercial and residential property, a former manufacturing mill, had earlier been set for auction Dec. 12, but that was postponed.

Friday’s notice merely said the auction had been cancelled and that those who had expressed interest would be notified if it is rescheduled.

Tranzon, LLC had billed the property as, “an incredible opportunity to buy an income-producing multi-use building that includes a successful restaurant, 22 loft-style apartments and ready-for-completion office space.” Auctioneers noted its proximity to the Saco River and the Amtrak Downeaster train station.

The building is home to the popular Run of the Mill Public House and Brewery.

Built in 1835, the property is assessed at $2.2 million, according to Tranzon. The company noted the taxes for 2020 are $42,647.

The property is owned by The ROTM Lofts LLC of Topsham, which purchased it in December 2017 for $1.6 million from Saco Island West LLC, which bought it in 2007 for $4.8 million, according to municipal property information included with the auction packet.

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