ONLINE AUCTION of INCOME-PRODUCING REAL ESTATE
Bidding Ends Thursday, October 8, 2020 @ 11:00am
2003 - 2021 Dryden Road, Moraine, OH 45439
Sells Absolutely to the Highest Bidder Regardless of Price!
PROPERTY DESCRIPTION: Includes 2 Commercial buildings of 11,600 SF and 3,686 SF built in 1955 on 1.941 acres generating an annual NOI of $30,469 with 3 current tenants. Unit 2015 is leased through January 2026; Unit 2003 is leased through October 2021; Unit 2013 is month-to-month with tenant in place since 2015. Annual taxes are $10,227.
PID: J44 26421 0001 Tax Value: $255,210
ENVIRONMENTAL DISCLOSURE: All properties have been equipped with sub-slab monitoring systems in accordance with the Administrative Settlement and Order on Consent (ASAOC) for Remedial Investigation/Feasibility Study (RI/FS). Outside third-parties are responsible for monthly and annual monitoring of environmental conditions. This is a result of the former South Dayton Dump & Landfill site present on adjacent land in the 1930’s - 40’s. Owners of these subject properties have been released of future liabilities. However, the existence of these conditions will require that sales will be on a cash-basis only. Additional details relative to this issue are available upon request and execution of a standard non-disclosure agreement.
PHASE I ENVIRONMENTAL: Seller has obtained a Phase I Environmental Inspection and Report. Said report will be provided to Buyer, thereby limiting future liability for Buyer. Buyer will be responsible for reimbursement to Seller of Phase I costs at closing.
FINANCIALS: Available upon request and execution of Non-Disclosure Agreement.
INSPECTION TOURS: Tours of all properties will be available by appointment ONLY on Tuesday, October 6th between 11:00am & 3:00pm.
ONLINE BIDDING NOTES:
Bid Increment: online bidding increments for this auction is $100.
Max Bid: When you place a bid, you can place a "Max Bid" and the automated bidding software will bid for you in $100 increments up to your maximum. You will be notified by email if your maximum is out-bid by another bidder.
Bid Extensions: If a bid is placed in the last 5 minutes before the scheduled auction end time, bidding will extend for an additional 5 minutes. Bid extensions will continue until a 5 minute period of time elapses after the stated auction end time with no advance in the bidding.
Tim Lile, CAI – Asset Advisor/Auctioneer (937)689-1846; TimLileAuctioneer@gmail.com
Bid NOW @ www.OhioRealEstateAuctions.com
Selling in Cooperation With Mark Fornes Realty
Disclaimer: Information contained herein was obtained from sources deemed reliable. However, neither Ohio Real Estate Auctions, LLC, Auctioneers, nor their agents will be responsible for any errors or omissions regarding information provided by same. Announcements made at the auction will take precedence over written material or any other statements made prior to the auction. Buyers should carefully verify all information and make their own decision as to the accuracy thereof before relying on same
Lot Size: 3,686 SF on 1.941 acres
Annual Taxes: $ 10,227
Sells As-Is with no contingencies for financing, inspection or otherwise. All desired inspections must be completed prior to auction. 10% Buyer's Premium will be added to winning bid(s) to establish final contract selling price(s). Short tax proration. Buyer(s) pays all closing costs. Buyer responsible for reimbursement of costs associated with Phase I Environmental inspection and report.
Deposit and Closing:
Successful bidder(s) required to place a non-refundable deposit equal to the greater of 10% of the final contract selling price(s) or $5,000 per property won by the end of business day of auction. Close on or before October 30, 2020 through M & M Title Company.
See Realtor Registration Form in documents section of this listing for terms and requirements.