Auction Detail - Chris Colson Auction & Realty

Auction Details

Proven Trust

Proven Experience

Proven Results

Auction Dates

Starts: Sat, Oct 4, 2014 5:00AM

Ends: Sat, Oct 4, 2014 5:00PM

Description

ABSOLUTE AUCTION

+/- 20 PRIME COMMERCIAL/RESIDENTIAL ACRES

OFFERED IN TWO TRACTS * SEPARATE OR COMBINED

EXCELLENT BENTON, KY. LOCATION!

ATTENTION DEVELOPERS & INVESTORS

SELLS TO THE HIGH BIDDER REGARDLESS OF AMOUNT!

OUTSTANDING DEVELOPMENT POTENTIAL
+/- $170,000.00 IN SEWER & WATER UTILITY INSTALLATION PRESENT
+/- 2,600 FEET OF VALUABLE ST. HWY ROAD FRONTAGE
+/- 3,100 LINEAR FEET OF GRAVEL ROADS INSTALLED
OUTSTANDING TRAFFIC COUNT WITH HIGH TRAFFIC VISIBILITY
+/- ½ MILE FROM KENTUCKY INTERSTATE PURCHASE PARKWAY
NO ZONING IN PLACE ON SUBJECT PROPERTY
JUST MINUTES FROM MURRAY, KY.

WHEN: Saturday, October 4th @ 10:00 AM

WHERE: Property has road frontage on two sides, US-Hwy 641 in the front and Ky.-Hwy 1311/Slickback Rd. in the back. No physical address currently in place. Read directions below. Subject property is within walking distance from Cheers Truck Stop & the new Marshall Count Health Department.

Auction held on site rain or shine

DIRECTIONS: Traveling Southwest on the Julian M. Carroll Purchase Parkway (future I-69 corridor) take Exit 41 merging onto US-641 Spur South towards Murray Ky. continuing 0.2 miles. Turn right onto KY-Hwy 58 West/ Mayfield Hwy beside Cheers Truck Stop and continue 200 feet turning left onto KY-1311/Slickback Rd. Continue on Slickback Rd. 0.5 miles past new Marshall County Health Department arriving at property on left. Signs posted. Property has frontage on US-Hwy 641 as well. Entrances are on Slickback Rd.

PROPERTY DESCRIPTION:

Consider this highly desirable acreage with +/- 1,304 feet of Hwy 641 4 lane road frontage consisting of the state’s verbal permission for the installation of a controlled access entrance across from Benton First United Methodist Church. (New owner’s expense) A 25’ set back for a frontage road is available, if needed. There is +/- 1,296 feet of Slickback Rd. frontage also along property with 2 gravel entrances in place with the state’s verbal permission for permitted access. Several gravel roads have been installed containing culverts & ditches. Utilities: Installed utilities include city water with a 10” water main & 3 large fire plugs, city sewers with an 8” main, & 8 sewer hook ups/tap ons in place, 5-2’ diameter man holes & a 6” forced main with new pump station. Other utility amenities include AT&T fiber cable along Slickback Rd., West Ky. Rural Electric transformer on property with under ground service available, & a verbal commitment from Benton to install natural gas on property once sincerity of development is in place. Property is not in the 100 year flood plain.

BUSINESSES IN CLOSE PROXIMITY TO SUBJECT PROPERTY:

New Marshall County Health Dept. Opened mid 2014
Cheers Truck Stop/Convenient Mart
Bass Pro Shop
Strip mall on the corner of Hwy 58 & Hwy 641

BUSINESSES COMING SOON:

New 5 Star on the corner of Hwy 58 & Hwy 641
New Marshall County Middle School 2014/2015
Church off of Hwy 641

CHURCHES:

Benton First United Methodist Church directly across Hwy 641

NO ZONING PRESENT

THERE ARE MANY PERMITTED USES FOR THIS OUTSTANDING PROPERTY

A FEW EXAMPLES ARE MENTIONED BELOW:

RESIDENTIAL EXAMPLES:

Single family dwellings containing +/- 58 – 100’x150’ lot sizes
Two family dwellings
Multi family dwellings
Day care nurseries
Bed & breakfast inns
Churches
Planned unit developments/apartments
Public schools
Public parks & recreation
Public & private utilities
Greenhouse nurseries

COMMERCIAL EXAMPLES:

Automobile sales
Hospitals and medical clinics
Commercial storage
C-Marts
Boat sales
Eating establishments
Veterinary facilities & kennels
Funeral Home
Hotels
Mobile home sales
Places of assembly
Retail/strip mall
Theatre
Trade, business, or art schools

INDUSTRIAL EXAMPLES:

Manufacturing
Fabrication
Processing
Warehouses
Production & distribution

Terms of Auction:

Real Estate: 15% good faith deposit due day of sale. Balance due in 30 days. 10% buyer premium added to final bid and included in the total contract price. Bank letter of credit required if unknown by Auction Co. Bidders are responsible for their own inspections and verifications either before or during day of auction. Announcements day of auction take precedence over any previous marketing either written or oral.

Procedure: Initial procedure determined by auctioneer.

Title: Fee Simple Absolute title delivered.

Deed: Seller will provide a General Warranty Deed.

Purchase Agreement: Successful bidder/s will enter into a purchase agreement contract immediately upon conclusion of the auction.

Possession: Possession given at closing.

Restrictions: Any recorded restrictions (if any) and zoning regulations apply.

Easements: Sale of property is subject to any and all easements of record.

Absence of Warranties & Disclaimer: All information contained herein and all related materials are subject to the Terms and Conditions outlined in the Purchase Agreement. The property is being sold on AS IS, WHERE IS basis, and no warranty or representation, either express or implied, concerning the property is made by the seller or the auction company. Each potential bidder is responsible for conducting his or her own inspections, verifications, investigations, inquiries, and due diligence concerning the property. The information contained herein is subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the sellers or the Auction Company. Conduct of the auction and increments of bidding are at the discretion of the auctioneer. The sellers and selling agents reserve the right to preclude any person from bidding if there is any question regarding the person’s credentials, fitness, etc. All decisions of the auctioneer are final.

ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTSMADE. AUCTION COMPANY OR OWNER IS NOT RESPONSIBLE FOR ACCIDENTS.