33 W First St Dayton Absolute Auction

Absolute Auction! Regardless of Price!

Income Producing

Downtown Dayton Office Tower and Parking Garage

33 W. 1st St. and 21-29 W. 1st St. Montgomery County 45402

Auction Date: Thursday March 29th @ 6pm On Site

Auction Location: Auction will be held onsite and will start promptly at 6pm. Plan on arriving between 5 and 5:15pm for registration. Parking will be available in the parking garage or behind the building. Auction will take place on the 3rd floor of the building. Either go directly from the 3rd floor garage into the 3rd floor of the building or enter into the main entrance on street level and you will be directed to the Auction location.

Directions: From I-75 toward downtown Dayton take exit 53b to East on W. First. Click Here for Google Map

Property Description: Income producing 6 story Dayton CBD office tower. Built in 1969, PID# R72-00309-0046, Zoned Office, land size is .45 Acres, Last purchase price was $2,100,000 in 1995. Current tax appraisal is $1,995,000. Annual taxes are $79,847. Annual assessments are $10,293. Future annual assessments are $5,623. Gross building square footage is 121,192. Total rentable SF is 87,839. Building exterior is concrete and glass. Roof is flat aggregate. Parking garage enters from the 3rd floor. Serviced by 3 certified elevators. Professional security and management on site. 8 current tenants. Anchor tenant is Dayton's oldest and largest law firm which occupy 1.5 total floors.

Click Here for Rent Roll Click Here Parking Garage P&L Statements Click Here for P&L Statements for Building and Garage Click Here for a portfolio of all leases Click here for Montgomery County Tax Card for the building Click here for Montgomery County Tax Card for the parking garage Click Here for 2010 & 2011 P&L for builing only

Description of Parking Garage and Land Lease: 21 West 1st St. Montgomery Co. PID# R72-00309-0042. Zoned for parking garage. .5409 Acres. Tax appraised at $625,610. Annual taxes are $26,967. Future annual special assessments are $2,092. Built in 1925. 6 Stories. Parking for 600. 167,706 Square Feet. 3 retail store fronts. 1 currently leased. You will only be bidding on the ability to use the property based on the current land lease. You are not buying the land. Annual land lease until June 30, 2024 is $20,000 per year paid quarterly plus all taxes, assessments, etc. See land lease for full details. Click Here for a copy of the Land Lease

Building Viewing Times: You may view common areas during regular business hours. Organized tours from the maintenance supervisor will be given on Thursdays March 15 and 22. Tours will start promptly at 6pm and 7pm. Please be on time and meet in the lobby. Final tours will be given on Auction day March 29. Tours will start at 4pm and 5pm.

Current Lease Status for Tenants: Valeria's day spa is in a retail location at 21 W. 1st below parking garage has 2014 lease. mPango Development Studios has lease on month to month in LL of 33 W. 1st. Soin International is month to month. Donet will be leaving in 2013. Corbus is month to month. Alan Scherr Associates has a 2014 lease. United Way of Greater Dayton has a 2015 lease. Coolidge Wall Attorneys have signed a LOI for an additional 10 years. See the rent roll link for more detailed info.

Basic Terms: Sells Regardless of Price to the Highest bidder with no minimums or reserves. In order to bid you must bring a cashier's check made payable to "Home Site Title Agency" in the amount of $50,000 which will become your non refundable deposit if you are the high bidder. The building is sold As Is with no contingencies. All inspections must be done prior to Auction. Close within 30 days. Montgomery Co. short tax proration. General warranty deed given at closing with no liens or back taxes.

How the properties will be sold: This will be a "Multi-Par" Auction where the building will be first offered by itself. The high bid will be held. Then the land lease on the parking garage will be offered and the high bid will be held. At this point both entities will be offered together and that high bid will be held if it exceeds the individual prices. The bidding continues in this fashion and the properties will be sold in the combination that brings the highest price.

Also bid by internet: We will offer live and simulcast bidding during the Auction. The Auction will be broadcast on ProxiBid.com Click Here for a direct link to this Auction on ProxiBid. In order to bid online you must pre-register properly at least 48 hours in advance.

Realtors: Cooperation is encouraged and expected. Please see Realtors Only section of our website for compensation instructions.

Auctioneers: Steve Thompson, CAI and Barry Baker, CCIM, AARE, CAI. Cell: 937-581-3037 Barry@OhioRealEstateAuctions.com

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