The property is under contract prior to auction. We will keep all marketing sites updated with changes. John Rogers.
This is a great opportunity for an investor to rehab and create upto 8 commerical units within this 10,342 square foot property. The property being auctioned is a two (2) parcel property with store frontage for 3 separate retail shops. Currently Ben & Joys Restaurant is located in the anchor corner of the property. This space has housed a local restaurant for over 55 years. The current owner has operated here for over 25 years and now is ready to hang up the aprin.
THe second and third floors have not been used as residential space for several years yet are designed as such.
The reserve bid is $39,000 and yet the property has auditor value of over $100,000 in current condition....which is just the value of the restaurant.
Lot Size: 10,342 square feet with 5-8 total commercial units available
Annual Taxes: $ 2,442
UPDATE: Property under contract prior to auction. We will keep marketing sites updated with changes.
Sells to the highest bidder equal to or over a posted reserve of $39,000. 10% down by cash or check which will become your non refundable deposit. The real estate is sold As Is with no contingencies. All inspections must be done prior to Auction. Close within 30 days. A 10% buyer's premium will be added to the winning high bid to obtain the final contract selling price. NO tax proration. Buyer pays all closing costs. General warranty deed given at closing with no liens or back taxes.
Deposit and Closing:
Closing must be within 30 days of the live auction contract and all documents and contracts to be signed immediately following the live auction event.
Realtor showings and cooperation are encouraged. For full compensation instructions, see Realtor Registration form attachment. Please call Auctioneer to schedule all showings.