1-877-BID-OHIO (243-6446) 

Specializing in the sale of
Real Estate at Public Auction

Zanesville Absolute Auction Income Producing Commercial Property

Main Aerial showing boundaries

More Information

What an investment opportunity! 2 buildings and 2 parcels, river frontage and woods will all sell as one package. Building one is addressed as 1124 Wayne Ave. This building was constructed in 1995 and has approx 6,000 sq ft and basically a very fancy barn. Currently leased for $1,200 per month plus utilities. The second building located right next door is addressed as 1128 Wayne Ave. Constructed in 1998 and consists of approx 8,000 sq ft. Currently has retail and residential tenants. (100% occupied) Total acreage is 4.2 Acres which includes river frontage on the Muskingum River and about 2 acres of woods.

Description of Units

The Homestead Village (Barn)

Built in 1995, 18 year old 6,000 sq. ft. timber-frame “Barn” with 800 sq.ft. covered porch.

After operating as a successful furniture store for 18 years, owner closed business to sell property.

Currently leased for $1,200 per month with possible rate increases in 6 months.

Built in 1998, 16 year old 8,000 sq. ft. complex divided into 8 units with 1800 sq.ft. covered porches.

Unit 1:

Currently used as a 1,240 sq. ft. restaurant. All contents are owned by tenant.

Leased for $550 per month.

Lease to expire or renew on Sept. 31, 2013

Unit 2:

Currently used as a 900 sq. ft. country craft store. All contents  are owned by tenant.

Leased for $450 per month.

Lease to expire or renew on Sept. 31, 2013

Unit 3:

Currently used as a 360 sq. ft. barber shop. All fixtures are owned by landlord.

Leased for $300 per month per barber.

Lease to expire or renew on Dec. 31, 2012.

Can be rented to two full time and one part time barber or stylist.

Unit 4:

Currently used as a 1,500 sq. ft. clothing store. All contents are owned by tenant.

Leased for $750 per month.

3 year lease to expire or renew on Feb. 28, 2015

Unit 5:

Currently used as a 1,040 sq. ft. office. All contents are owned by tenant.

Leased for $400 per month.

Lease to expire or renew on Feb. 28, 2013

Unit 6:

Currently used as a 900 sq. ft. storage unit. All contents owned by tenant.

Leased for $200 per month.

One year lease to expire or renew on Jan. 31, 2013

Unit 7:

Currently used as a 1,000 sq. ft. one bedroom apartment. All fixtures are owned by landlord.

Leased for $700 per month.

Two year lease to expire or renew on Jan. 31, 2013

Unit 8:

Currently used as a 1,000 sq. ft. two bedroom apartment. All fixtures are owned by landlord.

Leased for $700 per month.

Lease to expire or renew on April, 2014

Expenses

Property tax Barn  $1635.80   Village $3190.78  total $4826.58
Property ins. Barn & Village under one policy $2,069.00
Propane - Heat for Barn $880.70
Water - Total complex $159.84
Electric - Barn $369.84 
Electric - Village & Barber shop $470.10
Maintenance  Barn & Village $510.55
 
Total expenses                                                $9,286.61 per year

Lot Size: 4.2 acres with aprox 2 acres of trees

Annual Taxes: $ 4,829.58


Property Map


LEAD AUCTIONEER

Barry Baker
Email Barry

W: 937-581-3037
F: 614-635-3474


DIRECTIONS:

In Zanesville from I-70 take exit 155 toward 60 South. Follow SR 60 South for about 2 miles to the property.


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 "Talon Title" in the amount of $20,000 which will become your non refundable deposit if you are the high bidder. 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 high bid to obtain the final contract selling price. Short tax proration. Buyer pays all closing costs. General warranty deed given at closing with no liens or back taxes.

Deposit and Closing:

Closing will take place through Talon Title within 30 days of the auction.

Realtor Participation:

Realtor showings and cooperation are encouraged. For full compensation instructions, see Realtor Registration form attachment. Please call Auctioneer to schedule all showings.

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