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REAL ESTATE AUCTION
200 Missionary Ridge Drive Hoover, AL 35242 Tuesday, December 17 @ 12Noon(CST) PROPERTY DESCRIPTION: 64,000+/- SF 4-Story Office Building built in 1983 on 10+/- acres. $1.7MM Interior renovation was completed in 2014. Building features a combination of open floor-plan areas; meeting/conference rooms on each floor; private offices, large training room; canteen area on the lower level that opens to a covered patio area; 2 elevators; free-standing 1,600 SF storage/warehouse building; shipping/receiving area on ground level with dock height and grade level access; A total of 305 surface parking spaces, yielding an above market parking ratio of 4.76/1,000 SF; three 3rd floor exterior terraces provide stunning views. Subject is strategically located in Unincorporated Shelby County (NO City of Birmingham occupational taxes and NO municipal property taxes) with the highest concentration of amenities within a 1 mile radius of any location in the greater Birmingham area. Shelby County Parcel ID 01-9-31-0-001-048-000; Lot 2 according to the Survey of The Meadows Business Center First Sector, as recorded in Map Book 8, Page 115 A and B, in the Probate Office of Shelby County, Alabama. Tax Appraised @ $7.1MM ~ Minimum Opening Bid $900,000 Buy Now Price: $1.95MM INSPECTION TOURS: Tuesday, December 10th & Monday, December 16th 12:00pm to 4:00pm(CST) both days. All office systems and furnishings will be sold in separate online-only auction beginning 12/6/19 and ending 12/18/19 at BidNowLLC.com. ONLINE BIDDING NOTES: Bid Increment: online bidding increment for this auction is $500. Max Bid: When you place a bid during Pre-Bidding, you can place a "Max Bid" and the automated bidding software will bid for you in $500 increments up to your maximum. You will be notified by email if your maximum is out-bid by another bidder. Knox Realty & BCK Auctions Bryan Knox, CAI, GPPA - Auctioneer (AL #1587) Auction Manager - Tim Lile, CAI
Simulcast Bidding: Pre-bidding will close 30 minutes prior to auction time convert to live, real-time simulcast bidding.
in conjunction with Colliers International
Lot Size: 64,000+/- SF on 10+/- Acres
Property Map
Basic Terms:
Property sells AS-IS with no contingencies for financing, inspection or otherwise. All desired inspections must be conducted prior to auction. 10% Buyer’s Premium in effect. Buyer shall be responsible for ALL closing costs. NOTE: The terms outlined here represent a basic summary of some of the terms and conditions set forth in that certain Real Estate Auction Sales Contract accessible by CLICKING HERE and should not be relied upon in and of themselves. The Contract is incorporated herein by reference for all purposes as though fully set forth in writing. If you shoose to submit a bid (whether online or in person), your conduct in doing so will affirm that you have (1) carefully reviewed and understand the terms and conditions in the Contract, (2) reviewed and considered the Seller's other Disclosure Documents which can be obtained by executing the Confidentiality Agreement accessible by CLICKING HERE, to the extent you've deemed it necessary or prudent before placing your bid and (3) agreed to be bound by the complete terms and conditions as set forth in the Contract and to execute such other documents as the Seller may request in evidence of the foregoing. In the event of a conflict between the terms and conditions set forth in the basic summary and any of those set forth in the Contract, the terms and conditions set forth in the Contract will govern and prevail.
BUY-NOW TERMS: Buy Now purchase shall be subject to all terms of auction and executed on same Real Estate Auction Sales Contract. Buy-Now contract must be completed with required deposit in place no less than 48 hours prior to auction. Buy-Now option shall be removed if bid level reaches 80% ($1.56MM) of Buy-Now price.
Deposit and Closing:
Successful bidder(s) will be required to place a non-refundable deposit equal to 10% of the total contract price immediately at the conclusion of auction. Close on or before January 17, 2019 through The Title Group Incorporated serving as Closing Agent.
Realtor Participation:
1% Co-op fee available to licensed Broker representing a properly registered successful bidder who closes on the transaction. Registration Form available by CLICKING HERE.