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GONE! MULTI-PROPERTY REAL ESTATE AUCTION-Property #2

THIS PROPERTY HAS SOLD PRIOR TO THE AUCTION!


PROPERTY 2.  Commercial – Brick Retail/Office Building, 100% Occupied, 1870 Sq. Ft. Building Area, Two Tenants, Zoning B-4, Annual Rent $11,760, Tenants Pay Utilities, Great Corner Location.

LIVE OFF-SITE AUCTION
Began: 02/23/13 at 10:00 AM CST
Property Location:

101 S. Bridge Street, Smithville, MO 64089


Auction Location: Platte Valley Bank, 1603 U.S. 169, Smithville, MO 64089
INSPECTION
Began: 02/10/13 at 2:00 PM CST
Ended: 02/10/13 at 4:00 PM CST
Location: 101 S. Bridge Street, Smithville, MO 64089

INSPECTION
Began: 02/17/13 at 2:00 PM CST
Ended: 02/17/13 at 4:00 PM CST
Location: 101 S. Bridge Street, Smithville, MO 64089


1,871 SQ. FT. RETAIL/OFFICE BUILDING

This 1,871 square foot, one-story brick commercial building, originally built as a bank, is 100% occupied, has two tenants and is located in the heart of Smithville’s downtown business district.  The north end of the building fronting Main St. is retail and leased for $600/month and the south end fronting Bridge St. is leased for office at $380/month with the tenants paying their own utilities.

 

Building Type: Retail/Office

Building Area: 1,871 sq. ft.

Land Area: 20,000 sq. ft.

Zoning: B-4 (Central Business District)

Construction: Brick, frame

Roof: Flat

Foundation: Concrete slab

Year Built: 1900 est.

Parking: On-street

HVAC: Furnace with central air, wall unit

Interior Finish: carpet, linoleum, painted plaster and drywall

Utilities: Separate gas and elec., 1 water

2012 Taxes: $2,303.41

Annual Lease: $11,760

AUCTION TERMS AND CONDITIONS:

 

REGISTRATION:

Registration will begin one hour before the auction. All bidders must provide name, address, phone number and a valid driver’s license. By registering, all bidders acknowledge having read and agree to be bound by the Auction Terms and Conditions.

 

DOWN PAYMENT:

The successful bidder(s) shall be required to make a 5% down payment of the total purchase price at the auction site immediately following the close of bidding.  Cash, cashier’s check or personal or business check will be accepted for the down payment.

 

FINANCING:

Financing is not a contingency of sale in this offering. Therefore, it is strongly recommended that potential bidders ensure in advance that they are able to obtain the necessary financing to close the transaction.

 

CONTRACT SIGNING:

The successful bidder(s) shall execute a purchase agreement at the auction site immediately following the close of bidding. All final bid prices are subject to Seller approval, unless announced otherwise. 

 

CLOSING:

Buyer(s) shall close within 30 days of the auction date. Possession will be delivered at closing subject to any remaining rights of the current tenant(s).

 

EVIDENCE OF TITLE

Seller shall furnish at seller’s expense an Owner’s Policy of Title Insurance in the amount of the total purchase price and shall execute a general warranty deed conveying the real estate to the buyer(s).

 

REAL ESTATE TAXES & ASSESSMENTS:

2013 taxes are to be prorated as of the closing date.

 

EASEMENTS AND LEASES:

Sale of said property is subject to any and all easements of record and any and all leases.

 

AGENCY:

Cates Auction & Realty Co., Inc. and its representatives are Exclusive Agents of the Seller.

 

BUYER’S PREMIUM:

A buyer’s premium of ten percent (10%) shall be added to the high bid and included in the total purchase price to be paid by the successful bidder(s).

 

BROKER PARTICIPATION:

A commission will be paid to any properly licensed Broker who registers a successful buyer according to the appropriate Broker Participation Agreement. This form is available from the Auction Company and must be completed and returned no later than 48 hours prior to the auction.

 

DISCLAIMERS AND ABSENCE OF WARRANTIES

The information in the auction advertising was obtained from sources believed to be accurate, but is subject to verification by all parties relying on it.  All sketches and dimensions are approximate.  No liability for its accuracy, errors or omissions is assumed by the Seller or the auction company. All bidders are responsible for conducting their own inspections, investigations, inquiries and due diligence concerning the property. The property is being offered on an “AS IS”, “WHERE IS” basis and no warranty or representations, expressed or implied, is made by the Seller or the auction company. All announcements made by the Auctioneer during the auction take precedence over any previously printed material or any other oral statements made. All information contained in the advertising and all related materials are subject to the terms and conditions outlined in the purchase agreement. Advertising may contain pictures of wildlife and other items that are for illustrative purposes only. The Auctioneer reserves the right to bid on behalf of the Seller up to, but not beyond the Seller’s reserve (if applicable). The Property is available for and subject to sale prior to auction.

Video: Multi-Property Real Estate Auction

U.S. 169 toward downtown Smithville, right on County Rd. DD/Main St. to Bridge St. and address.

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